A patent is an exclusive right granted to an inventor in exchange for the disclosure of the invention, offered by a sovereign state or intergovernmental organization. A patent is a form of intellectual property and is granted only for some period of time. Patented technology is protected against it being duplicated for the commercial use of other entities other then its inventor. Being an important part of many businesses, technological and fintech patents are strongly protected. Still, there is room for further development. For example, blockchain patents can help with validating data about the invention and in proving the time of its establishment. Blockchain network for patents, alongside networks for storing other crucial data, such as health information or renting contracts, are an important field of study and are in the process of development.
China’s National Intellectual Property Administration is further streamlining the rules in regard to the guidelines of blockchain patent applications.
China Continues to Streamline Its Blockchain Patent Application Process
Brian Amstrong, the CEO of Coinbase, has patented a system that allows users to transact Bitcoin directly using email.
Coinbase CEO Receives Patent for Transacting Bitcoin via Email
China is winning the US in the numbers of the blockchain-related patents filed between 2014 and 2019, but who are the top patent owners in each country?
US and China Battle for Blockchain Dominance
Major American cryptocurrency exchange Coinbase has been awarded a patent for a system that identifies and flags non-compliant accounts.
Coinbase Secures Patent for System to Identify Non-Compliant Accounts
Chinese companies submitted around 7,600 blockchain patent applications between 2009 and 2018, about three times as many as U.S.-based companies.
With 7,600 Blockchain Patent Applications, Chinese Firms Far Outpace US
Verizon has won a patent in the United States for technology that can create blockchain-based virtual SIM cards.
Verizon Awarded Patent for Blockchain-Based Virtual SIM Cards
A patent for a blockchain-enabled solid state drive was filed by Korean electronics giant Samsung.
Samsung Files Patent for ‘Programmable Blockchain Solid State Drive’