More blockchain patents than Tencent

Chinese holding Ping An: More blockchain patents than Tencent

Ant Group still has the most blockchain patents worldwide. IBM’s patents, on the other hand, are mentioned the most.

Chinese holding company Ping An Group has filed the most patents related to blockchain in 2020, according to a new report.

Intellectual Asset Management magazine, which focuses on intellectual property, has published a report Bitcoin Revolution ranking the world’s top blockchain patent holders. Based on data from the Derwent World Patents Index, the ranking shows that Ping An filed 1,215 blockchain patent families last year. That’s more than Tencent and Ant Group filed combined.

With a total of 1,749 blockchain patent families, Ping An has filed many more patents since 2019. At that time, the number was 291. Ping An is based in Shenzhen and is a financial and insurance group that offers a wide range of services, including banking, wealth management and trust services. The company established itself in the industry when Ping An Bank set up a blockchain-focused boutique in 2018.

Ping An has overtaken Tencent in terms of patent families

The Chinese financial giant has filed a total of 1,666 patents in the field. Ant Group filed 586 patents last year, but still remains the largest blockchain patent holder with a total of 2,298.

Global tech giant IBM is the only American company mentioned in the report. It ranks fourth with a total of 647 blockchain patents (as of 2019). Chinese companies may lead the world in the number of patents, but IBM’s blockchain patents are mentioned the most in the industry. The company also has some of the oldest intellectual rights in the blockchain space, the report said.

According to the report, the number of annual blockchain patent applications worldwide has steadily declined over the past three years, falling from 12,300 in 2018 to 11,299 in 2019, with a total of 9,415 blockchain-related patents filed in 2020, the data shows.