MarketsBlockchain patent applications in China account for 84% of...

Blockchain patent applications in China account for 84% of the global total

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The Ministry of Industry and Information Technology of China claimed MIIT MIIT At a press conference that the country acquires more than 84% of patent applications Blockchain blockchain Globally, despite the Chinese ban on cryptocurrencies.

quick Facts About Blockchain

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However, the Ministry of International Trade and Investment did not cite its source for data on global patent applications in the blockchain Blockchain.

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For his part, Deputy Director of the Information Technology Development Department of the Ministry of Information Technology, Wang Jianwei, explained that Blockchain It is rapidly integrated with economic and governmental affairs.

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China had banned cryptocurrencies, but its technology pillar Blockchain, used by corporations, and government alike. The Chinese Academy of Information and Communications Technology, backed by the Ministry of Communications and Information Technology, said last July that China has more than 1,300 a company Blockchain Starting in March of this year.

Going back to the year 2021China ranked first in the world in terms of patent filings for technology Blockchain with about 33 A thousand patent applications, formed 63.2% of global demand, followed by the United States and South Korea, according to a report by the Patent Research Center PatSnap In February.

However, it has indicated Batsnap To that patent quality Blockchain In China, it is low, and may not exist, as I mentioned that the percentage of 10.5% Only more patents are valid compared to the United States 21.5%.

This, and the cost of registering a patent in China is close to zero, but the positive side of obtaining a patent, or even just registering a patent, is a relatively large matter as it adds advantages to the company’s file.

For his part, the patent attorney, partner in Egger Loose Greater China Eiger Law’s Greater China:

“Many of the applications submitted do not appear to be highly efficient, or innovative, but companies still want to submit them to create an innovative look.”

Source: Crypto Arabia

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