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To capture the massive growth of blockchain and DLT patents over the last several years, Let’s Talk Payments has partnered with Carneros Bay to release a complete analysis of the blockchain and cryptocurrencies patents market.
Ever since the anonymous drop of Bitcoin’s whitepaper and open source code in 2009, its underlying distributed ledger technology (DLT) has seen a significant mainstream interest. Ethereum is notably one of the most popular large-scale implementations of Blockchain which are inspired by the Bitcoin whitepaper. The potential benefits of blockchain and DLT weren’t lost on global financial services firms. Banks, consulting companies, and other financial institutions quickly revved up their R&D efforts, created consortiums, and continue to invest in DLT and cryptocurrencies. The result? A massive surge in blockchain patents.
The report references patents identified from a search of patents recorded from January 1, 2008 to August 28, 2017. A preliminary search found over 2,600 related patents, which, when filtered and reviewed by industry experts, identified just over 1,600 relevant patents worthy of attention from industry players.
The report helps identify discernible patterns of patent activity across companies, technologies and regions across the globe. The top patent assignees are a mix of technology, finance and communication-related companies. It highlights the cross-industry reach of cryptocurrency, electronic transactions and distributed ledger technologies. Top filers include technology companies (Coinbase, Coinplug, IBM and others), financial institutions (TD Bank, Bank of America, Fidelity and others), payment providers (Mastercard) and social media sites (Facebook) along with unusual assignees (Arkeytyp IP, Wal-Mart, AT&T). Some of the interesting trends show that filings are shifting away from the US to the rest of the world along with an increased focus on specific use cases and applications as opposed to core technology filings. This type of filing pattern tends to emerge when the core technologies are more mature and defined thus allowing for specific uses cases to be established.
We’re excited to see what other insights you can extract from this report. Contact firstname.lastname@example.org if you’d like to share insights from the report on Let’s Talk Payments or speak with Carneros Bay.