IBM triples its blockchain patents in just one year

By July 17, 2019 Bitcoin Business
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International Business Machines (IBM) has continued to be a trailblazer in the blockchain patent race in the U.S, new data has revealed. The multinational tech giant has tripled its blockchain patents in the past year, the data showed. Bank of America, Mastercard and nChain were among the other leading blockchain patents owners in the U.S.

The data was collected by Yuval Halevi, the co-founder of GuerillaBuzz, a cryptocurrency and blockchain PR company. Halevi took to Twitter to share the data which shows IBM being the outright leader in the blockchain patent ownership sector in the U.S.

The New York-based company holds 108 blockchain patents, the data showed. One of the latest patents acquired by the Big Blue was for a platform that will use blockchain technology to verify information shared between mobile devices in real time. According to documents published by the USPTO, IBM will be out to use the platform to transform the artificial intelligence and internet of things industries.

Halevi, who is also the co-founder of Startup Stash, a site that curates tools and resources to help founders build their startups, acknowledged the implication that the heavy investment by IBM has on the blockchain industry. He stated, “When one of the largest companies in the world (366,000 employees) spends so much of their resources on developing a blockchain department, this tells a lot about the market potential.”

IBM has continued to invest in blockchain technology heavily. Its faith in the potential of blockchain was proven recently when despite massive layoffs at the firm, the blockchain division was barely scathed. Additionally, a report by TeqAtlas revealed that IBM is the highest blockchain employer. In March this year alone, the company had over 330 blockchain-related vacancies on its website, twice that of second-placed Oracle.

Bank of America has the second-highest number of blockchain patents in the U.S, the data showed. This is despite the bank’s tech chief recently admitting that she remains bearish when it comes to blockchain technology. But then again, Jamie Dimon bashed cryptos for years, only for JPMorgan Chase to launch its own crypto.

The other leading blockchain patents owners in the U.S are Mastercard, Intel, Alibaba Group, nChain, Walmart, Dell Technologies and Microsoft. The data is proof that nearly all the major tech companies have embraced blockchain technology and are bracing themselves for the blockchain arms race.

While IBM leads in the U.S, it has stiff competition globally. nChain remains a global leader in blockchain patents, with Chinese firms such as Baidu, Alibaba and Tencent also stepping up their game.

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