{"id":33758,"date":"2023-01-24T09:37:03","date_gmt":"2023-01-24T09:37:03","guid":{"rendered":"https:\/\/lydian.io\/?p=33758"},"modified":"2023-01-24T09:37:03","modified_gmt":"2023-01-24T09:37:03","slug":"china-accounts-for-84-of-all-blockchain-patent-filings-but-theres-a-catch","status":"publish","type":"post","link":"https:\/\/lydian.io\/china-accounts-for-84-of-all-blockchain-patent-filings-but-theres-a-catch\/","title":{"rendered":"China accounts for 84% of all blockchain patent filings, but there's a catch","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
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Based on the most recent knowledge shared by the nation's authorities official, China accounts for 84% of all blockchain purposes submitted worldwide.<\/p>\n
China has stayed away from the cryptocurrency market. Nevertheless, the Beijing authorities has backed the underlying blockchain know-how. The nation has actively promoted the usage of blockchain know-how through the years and therefore the excessive share of blockchain patents isn't a surprise.<\/p>\n
President Xi Jinping has additionally performed a key function in selling the rising blockchain know-how. In 2019, the President known as on residents, know-how firms and ecosystem stakeholders to actively take part and innovate with the rising know-how as it will play a key function in the way forward for the following industrial revolution. <\/p>\n
As Cointelegraph beforehand reported, Chinese language firms had filed 4,435 blockchain patents inside a 12 months of President Xi Jinping backing the business. Based on one other research, from 2015 to June 2021, China accounted for round 60% of world blockchain patent filings, adopted by the US and South Korea.<\/p>\n
The determine was launched Tuesday by Wang Jianwei, deputy director of the Ministry of Trade and Info Know-how. Nevertheless, the numbers didn't embody a time-frame wherein these patent purposes have been filed.<\/p>\n
Associated: <\/strong>Tencent Receives Patent for Blockchain-Based mostly Lacking Individuals Poster<\/strong><\/p>\n Whereas China has the best variety of blockchain patent filings, the approval charge is considerably low at simply 19% of the whole purposes filed. reported <\/a>South China tomorrow publish.<\/p>\n One other necessary factor to notice right here is that China does not place very a lot emphasis on decentralization, the identical precept on which blockchain know-how relies. This was illustrated by the event of the nation's digital yuan, the place the central financial institution constructed the nationwide digital foreign money on the curated model of a blockchain with full management over the way it works, quite than utilizing the standard distributed community method.<\/p>\n