With the announcement of Chinese President Xi Jinping in 2019, the initiatives for blockchain technology have increased even more, and China definitely exhibits a relentless competition in technology. China’s blockchain war, which was once thought to go head-to-head with the US, shows that now there is only one place.
Patent applications related to blockchain made by Chinese companies have outstripped not only the USA but all the countries of the world. It is seen that the total blockchain patent applications made by the China-based Alibaba / Alipay companies are 1505, the applications made by Tencent are 724, and the applications made by Ping An Group are 561.
Overwhelming Advantage in Blockchain
While going to the top 3 China-based companies on blockchain patent applications in 2019, it was a surprise that the 4th firm, including Craig Wright, was nChain. While NChain is in fourth place with a total of 402 patent applications, WeBank, a Chinese company, is just behind it. While another Chinese company ReeChain is in the sixth rank, it is seen that a company from the USA ranks only in seventh. Technology giant IBM’s only 240 blockchain patent applications reveal how certain China’s victory is.
Ethereum co-founder Vitalik Buterin, on the other hand, stressed that the number of blockchain patents did not matter after this data appeared and that those who ventured in this direction did not really understand blockchain technology and added a critical direction.