Chinese tech titans Tencent and Alibaba recorded the highest quantity of blockchain patents last year.
Tencent and its affiliates listed 718 applications, Alibaba Group - 470 of more than 5800 (20% of the whole number of applications).
Only 3% from 5800 was approved during the same year.
Researchers have recorded the growing interest of foreign companies in obtaining blockchain patents in China. So, in the first quarter of 2020, applications for 212 patents were received from 35 companies, including Mastercard, Sony, Intel, Microsoft, Oracle, Nokia, and others.
These two corporations are accompanied by Chinese organizations WeBank, Ruize Technology, and Ant Financial. Overall, of the 20 surveyed firms that registered patent requests, 63% were Chinese. They are supported by companies from the United States.