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Tech Crackdown Hasn’t Halted Chinese Firms’ Blockchain R&D Progress

Chinese language firms are nonetheless topping the blockchain patents charts – regardless of Beijing’s current crackdown on crypto and a few of the nation’s largest tech corporations.

In an ironic twist, a few of the corporations which have fallen afoul of a current crackdown on gaming, fintech, leisure and chat app operators function prominently within the newest international blockchain patents index, as compiled by the mental property trade media outlet IPR Every day and the incoPat Innovation Index Analysis Heart.

However regardless of Beijing’s obvious mistrust of the Center Kingdom’s largest tech corporations, it stays dedicated to profitable the worldwide blockchain know-how race – and has lent “coverage help” to firms dedicated to creating blockchain-related “company funding.”

Because of this, the Alibaba fintech subsidiary and WeChat Pay operator Ant Group now ranks first on the annual high 100 listing, the place it stands head and shoulders above its home and international opponents on this planet of blockchain analysis and growth. The agency has registered a complete of 1,252 blockchain approved patents greater than “the sum of the second to fifth-placed firms” on the listing.

The Alibaba mom firm additionally registered 249 of its personal patents, rating fourth on the listing.

This progress is all of the extra exceptional contemplating what a torrid yr Ant Group has suffered by the hands of Chinese language regulators. Its preliminary public providing (IPO) was scuppered on the eleventh hour by Beijing earlier than its founder Jack Ma disappeared from the general public eye with out a hint. A number of months later, a newly subdued and crestfallen Ma returned to the scene, however seems to have grow to be a shadow of his former self.

Extra not too long ago, the agency has fallen foul of knowledge and monopoly rules that Beijing has used to select on the energy base of main tech corporations.

Alibaba’s largest rival has additionally skilled exponential progress on the blockchain patents entrance, regardless of very related obstacles: Tencent final month tumbled out of the world’s high 10 firms, Funding Week reported – with spooked shareholders within the West caught in a sell-off of Chinese language tech shares.

However the agency’s Tencent Know-how arm noticed the quickest progress charge on the index previously yr, rating second to Ant with 391 approved blockchain-related patents. 

The media outlet China Information remarked that China’s blockchain trade “has developed quickly and is in a number one place in blockchain patents.”

America’s IBM was third with 297 approved patents. The Financial institution of America was ninth on the listing with 74 patents and the one different non-Chinese language agency within the high 10 was South Korea’s Coinplug (within the fifth spot) with 114.

In complete, over half of the highest 100 firms on the listing have been Chinese language and 1 / 4 have been American. 5 South Korean and 5 Japanese firms additionally made the listing, together with 4 German corporations. Different international locations have been unable to muster greater than a single firm on the listing.
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