• Skip to primary navigation
  • Skip to main content
  • Skip to footer
  • Home
  • About Us
  • Contact Us

Blockchain Consultants

Blockchain Transformations Done Here

  • Pricing Page
  • Block Examples
  • Landing Page

Banking

Crypto and blockchain: What the Brazilian market can expect for 2021

January 22, 2021 by Blockchain Consultants

2020 will be remembered as one of the most difficult years for contemporary societies: Countries and entire populations have faced lockdowns and economic crises, financial markets still suffer from the severe impacts of the economic recession, and more than 2 million lives have been taken by COVID-19.

Despite this, other sectors have been impacted in other ways during the severe global health crisis — which still seems far from over, even though vaccines are beginning to be distributed in wealthy countries. Economies have radically digitalized, hedge assets have attracted mistrust, and the crypto market has had one of its most important years since 2009, the year of Bitcoin’s (BTC) launch.

In fact, the crypto and blockchain markets have stood out in the face of a crisis that has spared almost no sector. Cryptocurrency funds are among the most profitable of the year, Bitcoin and the biggest altcoins reach new historic highs, large institutions and investors in the financial markets have allocated investments in Bitcoin, and blockchain technology has broken down barriers in the financial sector and in the production chains of the most varied of sectors.

Faced with a year of profound changes, what is to be expected for the future? Cointelegraph Brasil invited some of the country’s top crypto and blockchain experts to chart the next steps for the market.

Institutional investment

Institutional investment was highlighted in 2020, finally reaching the cryptosphere, and it promises another year of growth in 2021.

According to Rodrigo Borges, founding member of the Oxford Blockchain Foundation, large Bitcoin contributions by institutional investors — which have even bought more BTC than the production capacity of miners — will intensify in 2021: “Regarding Bitcoin, I imagine that there will be an increase in demand for institutional investors, enabling the emergence of new products with exposure to Bitcoin,” analyzed Borges. He also sees “2021 as a year of consolidation and strong development in the sector.”

As for Tatiana Revoredo, MIT blockchain expert and Cointelegraph Brasil columnist, the custody of cryptocurrencies by traditional financial institutions and the adoption of stablecoins will be key in the new year:

“In the financial sector, we will see applications for custody of crypto assets being launched in Brazil, with the possible participation of the traditional market. And if the regulatory authorities allow it, stablecoins will have an expressive role in the Brazilian market, with the turnover being able to quadruple in size.”

Crypto markets

Crypto markets experienced a year of extreme optimism — or greed, as demonstrated by the Crypto Fear & Greed Index. Bitcoin reached a dramatic bottom close at $3,800 in March, and it beat its 2017 historic high of $20,000 on Dec. 16. In Brazil, the currency set a new historical record in November when it reached $106,000 Brazillian reals.

Cointelegraph Markets reporter Marcel Pechman highlighted the behavior of the market despite the setbacks suffered during the year. He recalled: “The Bitcoin and Ethereum markets developed in 2020 as never before imagined, both in terms of trading volume, price and the contribution of renowned investors like Paul Tudor Jones and Stanley Druckenmiller.”

Pechman said that despite the crypto market suffering some setbacks, the impact of those setbacks on market performance was not so significant: “We had, for example, the US Department of Justice suing BitMEX — at the time, the largest derivatives exchange — and KuCoin’s $280 million hack, and none of those affected the market.”

Pechman also recalled that the 2020 DeFi race led to expensive transaction costs on the Ethereum network but did not impact market sentiment.

OriginalMy CEO Edilson Osório agreed with the promising future of the DeFi sector, but he cautioned against fraud:

“This is an experimental and very promising market, but it must be given extra attention because of malicious groups applying scams and fraud in general. As it is a very new market, platforms may have problems with hacks, and due to the great centralization that exists (even with many platforms presenting themselves as decentralized), there is still a risk of exit scams.”

About 2020’s innovations, and the digitalization imposed by the COVID-19 crisis, Pechman also said that it will go even deeper in 2021:

“Successive innovations, which include Taproot, Schnorr and Lightning Network in Bitcoin, in addition to the launch of Ethereum 2.0 phase 0, pave the way for the next wave, with increasingly larger, scalable applications, and interconnected with traditional finance. The final proof? Fidelity offers loans covered in cryptocurrencies.”

On the domestic markets, Osório is betting on the tokenization market in Brazil, which is already used by the country’s largest crypto exchange, Mercado Bitcoin. According to him, 2021 will be a year for “maturing the security tokens market.”

“Existing protocols are beginning to be well regarded by regulators, since most of them provide for greater participation and visibility on the part of the regulator itself and allow the mitigation of various risks inherent in this market. In this race, there is a great chance that Brazil will gain prominence because the local regulator has established a regulatory sandbox and the first projects are already beginning to mobilize to have their applications running in a more legally secure environment,” – noted Osório.

Another player at the Brazilian crypto markets, João Paulo Mayall — head of operations at QR Asset Management — is also optimistic about the tokenization market in 2021. He highlighted the role of regulators in the sector’s expansion in the South American country: “I believe that the future is the tokenization of assets, debentures, court bonds, government debts. Brazil is very advanced in its banking system and we will have many surprises in this sector, so I am very optimistic. Tokenization is a billion-dollar market, but it lacks the infrastructure. Innovation came in front of the regulators, but I think they are open to listening and working on it. I think [the regulation] will happen next year, even before March 2021.”

Finally, blockchain expert Tatiana Revoredo argued that crypto adoption in Brazil, which saw its currency melt in 2020, will intensify, with Bitcoin once again asserting itself as an economic-protection asset. She believes that the crypto markets will see “an increase in the interest of Brazilians, with consequent increase in the Brazilian market, with a prominent role for Bitcoin being adopted as a protective asset.”

CBDCs and national governments

The digitization of economies has placed the discussion of central bank digital currencies, or CBDCs, at the center of debates by financial authorities around the world. One of the countries that has definitely entered this race is China, which is already conducting real tests of the digital yuan in the country. Its main geopolitical rival, the U.S., announced that for the time being, it does not intend to digitize the dollar, but it is already seeing internal pressure from not following the Chinese leadership in the sector.

The Central Bank of Brazil has also commented on the transformation of the Brazillian real into a digital currency a few times, although there are no concrete plans for that in the short term.

Osório believes the European Union will join the hype soon, further accelerating the global race for CBDCs: “Although China appears to be leading the CBDC race, other countries are also beginning to move in this direction. Among them, Estonia, which recently started an internal consultation for the launch of its currency in the digital version. In particular, I believe that in Europe a more comprehensive and organized movement should take place in this sense, given the incentives promoted by the European Union.”

Many experts try to predict the impacts of CBDCs on economies — one of the main concerns of economic regulators. Governments, which largely study the adoption of blockchain in their public processes, should also enter the debate on privacy and the digitization of money.

According to Tatiana Revoredo, “in the government sector, the forecast is for the growth of [blockchain] applications in document registration and health applications, as well as a greater concern, by the citizens, regarding the relationship between privacy and CBDC.” She also claims that payments processors should closely monitor this innovation:

“Those who should be more attentive to these movements are the means of payment, such as PayPal and their peers. They will have to look deeply into their business models as soon as governments start issuing their currencies digitally. ”

Blockchain adoption

Governments have also viewed blockchain technology through a positive lens. In Brazil and Latin America, several state entities already use the technology to certify documents, including customs and notary offices. Big companies are also adopting blockchain to certify production, with use cases that are only expected to grow going forward.

Borges said that the acceleration of blockchain adoption by large companies and governments can positively impact crypto assets:

“Within the scope of blockchain technology, I see the development of interesting solutions, with the increasing involvement of traditional players, especially in the financial and agribusiness sectors, which may result in increased liquidity for certain assets.”

Revoredo agreed and highlighted the advancement of technology in the agricultural sector: “There has been a significant advance in agribusiness, with use in the identification of devices (drones, for example), integration with IoT and artificial intelligence to provide greater reliability and certify quality of agricultural production.”

Osório defended the growth of the blockchain market in 2020 and its prospects for the near future: “When we look at advances in blockchain with applications beyond digital currency, we see a growing market in the area of ​​decentralized digital identity, including with the approach of governments. We have seen movements in governments in the US and Japan, interested in modernizing their digital governance models. And the pandemic has certainly helped to accelerate and advance discussions on the issue around the world, as it understands that the digitization of analog and traditional services is a necessity.”

The end of 2020 was a milestone that closed out one of the most dramatic years in the history of contemporary societies, but it also revealed ways to combat global economic and health crises.

Blockchain technology has helped societies fight corruption, adopt more transparent processes and even contributed to the certification of medicines and vaccines during the most serious health crisis of the last 100 years, in addition to helping companies to improve procedures, products and services.

Meanwhile, Bitcoin has strengthened as an economic protection and investment product, has attracted institutional investment giants, and — together with other crypto technologies — has even laid the foundation for central banks around the world to start implementing their own digital currencies.

We still do not know the depth of the revolution we are experiencing with the digitalization of societies and the weakening of national currencies around the world, but by the end of 2021, we will certainly know many of the answers to the questions that still plague us at the beginning of this new year.

Crypto and blockchain: What the Brazilian market can expect for 2021

Source

Filed Under: blockchain, blockchain technology Tagged With: Adoption, altcoins, america, artificial intelligence, Bank, Banking, Banks, Bitcoin, BITMEX, blockchain, blockchain expert, Bonds, brazil, btc, Business, CBDC, Central Bank, ceo, China, Companies, COVID-19, crypto, crypto exchange, Cryptocurrencies, cryptocurrency, Currencies, Currency, Custody, decentralized, DeFi, department of justice, derivatives, Digital, digital currencies, digital currency, Environment, ethereum, Ethereum 2.0, Europe, european union, exchange, finance, Financial sector, fraud, Go, government, hack, hacks, head, health, index, Infrastructure, innovations, investment, Investments, iot, Japan, latin america, leadership, lightning network, Market, Market Sentiment, Markets, MIT, money, other, Oxford, payments, PayPal, Privacy, Regulation, scams, security, Stablecoins, Study, Technology, Tokens, Trading, u.s., us, world, Yuan

Kickstart Your Career in Blockchain Space: List of Best Specialization Courses in 2021

January 22, 2021 by Blockchain Consultants

Kickstart Your Career in Blockchain Space List of Best Blockchain Specialization Courses in 2021

2020 has been a year of Blockchain. The high package salaries of such professionals indicate that this technology is no more a new buzzword. Tech giants and enterprises have started adopting technology, and for that, they are hiring skilled professionals. The major reason why jobs in this domain are paid so highly is because this space is young, and people with any experience in the space are rarely few.

If you are looking for the most-demanding certifications in this space, you have landed on the right page. This article includes the details of the most popular, top-rated specialization courses ideal for beginners and professionals looking forward to pursuing a professional career in this domain.

Best Specialization Courses to Become a Blockchain Professional in 2021

With any further delay, let’s enlist the best specialization courses that will help you acquire a futuristic career in 2021.

This is another comprehensive online course and training program to become a Certified Professional in law domain. This particular training is primarily directed to guide an individual in creating solutions that can influence all the aspects of the law and deals with the assimilation of knowledge on how technology can be leveraged to speed up and streamline the process of tracing digital documents for evidence and automate the agreement process using smart contracts. You’ll be benefitted from:
complete fundamentals of DLT

  • its advantages in law
  • its use-cases such as Chain of Custody, Litigation, and Settlements, and much more.

As technology poses incredible benefits to HR professionals in talent management, verifying the accreditation of potential hires, safeguarding employee health records, and performance evaluation, this certification is in huge demand. Tech giants and organizations are looking for skilled HR professionals who understand this technology profoundly. 

This is another comprehensive and hands-on course to learn this technology in the HR domain. The course provides a complete overview of this technology, technology’s impact on human resources, and its varying use-cases. It educates learners to gain an accurate picture of the employees’ overall performance and business, in general, using this futuristic technology. The best thing about this specialization course is that it covers almost every vital concept needed to become a pro in this particular sector. 

This is a globally acknowledged certification that helps learners to gain an in-depth understanding of the Blockchain for KYC Procedure and implement skills to optimize KYC Procedure. After completing this course, you will be able to implement Blockchain’s understanding to speed up and simplify the process of digital identity verification, cross-border payments and to identify frauds in banking and other financial sectors. Acquiring this certification in your resume of the LinkedIn profile will help you showcase your skills and experience.

Informative and well-structured, the course is ideal for all those whose interest revolves around digital marketing. 

This is a unique training and certification specially designed to demonstrate how this technology can revolutionize digital marketing. This course covers all its fundamentals such as blocks, wallets, and addresses, public and private keys, Merkle Tree, and hashing, cryptography and algorithms, and much more. Moreover, it teaches how digital marketing will benefit from this technology and its various use-cases. The course will render expertise on eliminating digital marketing middlemen, eliminating online ad fraud, building trust, and transparency while giving customers full control of their information with the use of DLT.

This Digital Marketing Professional training will prove your USP and act as a catalyst to accelerate your career growth.

Through this outstanding course, you will be able to learn how DLT has the power to bring about a major breakthrough in the healthcare industry, especially in terms of Health Information Exchange, by improving data integrity, regulatory compliance, and privacy. The course details various problem statements such as Drug Counterfeiting, Clinical Trials, and Healthcare Records Management, focusing on technology fundamentals and its various use-cases in the healthcare domain. The course will help you learn about healthcare business needs, technology’s role in healthcare, and how to build DLT-based healthcare systems.

Although anyone can avail this certification, this is best suited for system administrators, architects, developers, network security architects, cybersecurity experts, and IT professionals.

This certification aims at imparting a complete understanding of Blockchain’s inherent security features and associated risk, in-depth knowledge of best security practices for DLT infrastructure, exploration of known cyber-attacks, ability to differentiate between various cyber-attacks and threats, and teaching how to transfer or mitigate security risk.

This program will solidify your basics and advance your knowledge in the featured topics and make you capable enough to handle relevant complex issues. This course enables you to implement your skills in any applications and build your own Blockchain enterprise with acquired knowledge. 

We all know that DLT has its implications in the supply chain domain for a long time. At present, the demand for DLT-based supply chain experts is surging. Such experts implement the understanding of Blockchain to increase revenues and decrease costs while improving overall quality.

This certification will offer you an in-depth understanding of the mechanism for blockchain technology functioning that will help you integrate this technology with supply chain management. By the end of the course, you will be able to create solutions that can impact all the facets of the Supply Chain.

This training is primarily directed to guide an individual in creating solutions that can influence all aspects of finance and deals with the assimilation of knowledge on how this technology can be leveraged to speed up and streamline the procedure of cross border payments and to reduce the cost undoubtedly.

Here are the key things you will learn in this program:

  • Overview of financial management and challenges in the financial system 
  • Understand the core concepts of technology and its ecosystem
  • Role of this technology in Financial System 
  • Vendor Perspective about Blockchain and its advantages in finance services
  • Use-cases including cross border payments, syndicate lending, digital identity verification, and trade finance 

Concluding Lines 

The Blockchain Specialization courses mentioned above are crafted by Industry Experts to make the scholars efficient in handling the different verticals of blockchain technologies. The best part about these courses is that they require no prior knowledge. After completing, learners will be proficient enough to engage with business executives and offer practical solutions for their specific needs. 

Blockchain Council gives you an opportunity to learn from top experts around the world, and courses are uniquely curated for professionals by premiers of multifarious industries. These are self-paced training ranging from 4 hours to 6 hours that require your attentiveness. It is as easy as it sounds.

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council. 

Kickstart Your Career in Blockchain Space: List of Best Specialization Courses in 2021

Source

Filed Under: blockchain, blockchain technology Tagged With: article, Banking, blockchain, blockchain info, blockchain updates, blockchain-technology, Business, Career, Compliance, cryptography, Custody, cybersecurity, data, Deals, developers, Digital, DLT, Enterprise, exchange, finance, fraud, health, healthcare, hiring, information, Infrastructure, Jobs, KYC, Law, linkedin, marketing, other, payments, Privacy, security, smart contracts, Space, supply chain, tech, Technology, world

PayPal’s crypto integration means Bitcoin could triple its user base

October 22, 2020 by Blockchain Consultants

Bitcoin (BTC) price has again punched through the $13,000 mark after yesterday’s PayPal’s announcement sparked a powerful rally which drove the price to a new 2020 high. 

Currently sitting near $13,100, Bitcoin price has rallied nearly 10% since the announcement and BTC is now close to overtaking PayPal as the 21st biggest asset by market capitalization.

PayPal’s crypto announcement comes two weeks after Square, another payments giant, announced its own foray into Bitcoin by investing roughly 1% of its assets into Bitcoin.

According to Lanre Jonathan Ige, a researcher at Amun AG, the continuing trend of large sized investments will be material in bringing institutional interest to Bitcoin. Ige said:

“Corporations are often trend-following and we can expect a number of other corporations to follow the lead of Square and Microstrategy, as the returns of the assets continue to impress.”

However, the recent news from PayPal is more likely to bring the masses to Bitcoin, rather than Bitcoin to institutions. This is because PayPal may bring a more mainstream audience up to speed with the cryptocurrency as an investment vehicle for now and as a payment method in the future, which has been one of the main focus of the Bitcoin community when it comes to mass adoption.

PayPal should boost Bitcoin’s user base

According to data from glassnode, Bitcoin currently has over 187 million users or “hodlers”. While impressive, crypto analyst Willy Woo noted that this pales in comparison to PayPal’s 487 million users.

Total Bitcoin HODLers. Source: Twitter

By adding Bitcoin, PayPal is bringing the name to a mainstream audience. While it is only possible to buy, sell and hold Bitcoin through PayPal for the time being, the company announced that it would be adding cryptocurrency payment and transfers in 2021. Once this occurs, it could cement Bitcoin’s reputation as a payment and remittance mechanism.

Transacting through PayPal and other centralized platforms could even become one of the ways in which Bitcoin is able to scale to a mainstream user base. Centralized transactions (along with other methods like sidechains and lightning network) could be used to alleviate congestion in Bitcoin’s blockchain, allowing it to be used only for bigger transactions that require more safety, transparency or immutable proof of ownership.

Bitcoin is on the path to outperforming banks

While it seems that payment processing companies and cryptocurrencies are finding more synergy as time passes, the same can not be said for banks and this struggle is reflected in their stock price.

Jon Erlichman, tech correspondent at BNN Bloomberg, noted that assets like Bitcoin, Ether and stocks for payment companies like PayPal and Square were doing quite well this year but since the COVID-19 pandemic, financial stocks have underperformed.

Bitcoin and Ether YTD performance. Source: Digital Assets Data

To date, the prices of Bitcoin and Ether have appreciated by 80.5% and 217%. Meanwhile, PayPal rallied 99% and Square 186%. Banks like JPMorgan and Bank of America, on the other hand, have lost 28% and 32% respectively. Citigroup has seen its stock value drop by 46% and Wells Fargo has decreased by 58%.

As for Bitcoin, it continues to be one of the best performing assets in existence, beating gold and the S&P 500 by a wide margin in 2020.

Macro Assets Current Year Returns. Source: Skew.com

As a growing number of people interact with Bitcoin as an investment vehicle, it is possible that consumers will turn their backs to banks and invest in cryptocurrency.

According to experts, Bitcoin may even benefit from what some call the ‘Robinhood effect’, a phenomenon where retail investors with disposable income purchase an asset via fee-free, gamified investing platforms in order to avoid the rigamarole frequently associated with banks.

If this happens to BTC, the digital asset could see the same type of hyperbolic investing frenzy that occurred as Robinhood investors poured funds into Tesla earlier this year.

PayPal’s crypto integration means Bitcoin could triple its user base

Source

Filed Under: blockchain technology Tagged With: Adoption, america, analyst, Bank, Banking, Banks, Bitcoin, bitcoin adoption, Bitcoin Price, blockchain, btc, Companies, COVID-19, crypto, Cryptocurrencies, cryptocurrency, data, Digital, ether, gold, Investing, investment, Investments, jpmorgan, lightning network, Market, Markets, news, other, payments, PayPal, remittance, Robinhood, Square, Stocks, tech, tesla

Brazil is prepping an IPO for its state-run digital bank

October 20, 2020 by Blockchain Consultants

Brazil’s Minister of Economy, Paulo Guedes, said during an online event this Tuesday that Brazil “is about to” join the Organization for Economic Cooperation and Development (OECD) and that the Brazilian government has plans to launch a public offering of shares (IPO) for the newly-created digital bank of Caixa Econômica Federal.

Caixa Econômica Federal created a digital bank during the pandemic to help the government send financial aid to around 64 million Brazilians. Guedes’ comments came during the Milken Institute Global Conference, during which he said that the Central Bank is working to attract new investors for the country.

One of the minister’s bets is on the digital bank recently created by the state-owned Caixa Econômica Federal, which is part of Guedes’s privatization plans.

During the pandemic, the government spent heavily to combat the economic effects of COVID-19. The largest part of that fiscal support was emergency payments for low-income Brazilians, with Caixa playing a central role in identifying beneficiaries and paying benefits.

The initiative, Guedes assured the audience, generated a digital bank with 64 million users, opening up market opportunities.

According to Reuters, Guedes says that Caixa’s customer base has led to plans for an IPO for the digital bank, which wacreated “in six months” to pay government benefits:

“We digitalized 64 million people. How much is a bank with 64 million people worth? Low-income people, but people that were (bank-registered) for the very first time, so they are going to be loyal for the rest of their lives.”

According to Brazilian website InfoMoney, Guedes also said that the Central Bank will work to “guarantee” less risks to foreign investors:

“If the private sector abroad wants to pay extra money to have a guarantee […] we can give it to them for a certain price. If they want it, we’ll provide it.”

Guedes also said that Brazil has already fulfilled two thirds of the requirements to be accepted in the Organisation for Economic Co-operation and Development (OECD) and should definitely enter the organization “in one year”.

Among the benchmarks that Brazil must meet to enter the OECD are transparency, regulation, combating corruption and the establishment of acquisition protocols.

Brazil is prepping an IPO for its state-run digital bank

Source

Filed Under: blockchain technology Tagged With: Bank, Banking, Banks, brazil, Central Bank, Conference, COVID-19, Digital, economy, government, IPO, Market, money, payments, Regulation

Paxful To Provide Fiat On-Ramps to Singaporean Crypto Exchange Bityard

October 15, 2020 by Blockchain Consultants

P2P trading platform Paxful recently partnered with cryptocurrency exchange Bityard to provide fiat on-ramp services in Singapore. It will provide users access to more than 300 different payment options.

Kiosk available on Bityard

Paxful’s web-based Virtual Bitcoin called Kiosk will be available immediately to Bityard users. It will be accessible to all new and existing customers of the platform. Paxful’s peer-to-peer trading network can be used to buy Bitcoin with 160 different fiat currencies. With this integration, Paxful will act as a fiat-to-crypto on-ramp for Bityard customers. It provides access to more than 300 different payment methods for cryptocurrency purchases.

Paxful To Provide Fiat On-Ramps to Singaporean Crypto Exchange Bityard

Paxful To Provide Fiat On-Ramps to Singaporean Crypto Exchange Bityard

The feature will help cryptocurrency exchanges in onboarding people who are new to digital currencies by enabling the purchase of supported coins using local currency. The platform will support domestic wire transfers, bank transfers, online wallets, gift cards, etc. The platform will support various fiat currencies like Canadian Dollar (CAD), Euro (EUR), British Pound (GBP), Russian Ruble (RUB), Mexican Peso (MXN), and Argentine Peso (ARS).

Paxful existed in the Venezuela market

Though Bityard has other fiat-to-crypto on-ramps, it provides one of the most diverse ranges of payment methods, even in countries that follow restrictive banking rules. In such countries, people can use gift cards to buy Bitcoins using Paxful. Bityard also comes with an additional capability of allowing users to buy and sell crypto using Tether via a number of currencies like Bitcoin, Ethereum, and Litecoin.

The Virtual Bitcoin Kiosk from Paxful lets users match with sellers instantly if they meet the criteria of the trading needs like payment method and currency. After its launch in 2015, the company has expanded its reach from Bitcoin and now comes with Tether (USDT) support as well. Despite its expansion plans, Paxful recently stopped servicing the Venezuela market, which is the largest in the Latin American region in terms of volumes. The company apparently decided to pull off the market because of US sanctions on Venezuela.

Paxful To Provide Fiat On-Ramps to Singaporean Crypto Exchange Bityard

Source

Filed Under: blockchain, cryptocurrency Tagged With: Bank, Banking, Bitcoin, bitcoins, Bityard, crypto, crypto exchange, cryptocurrency, cryptocurrency exchange, Cryptoexchange, Currencies, Currency, digital currencies, ethereum, exchange, Exchanges, fiat, Litecoin, Market, other, p2p, Paxful, russian, Singapore, Tether, Trading, us, Venezuela

A Comprehensive Guide on Blockchain Patent

October 5, 2020 by Blockchain Consultants

Wondering what makes a patent a Blockchain Patent? You have landed on the right page. This article will provide you with a detailed guide on Blockchain patents, focusing on which country is at the lead and what are the major companies in this domain. So let’s get started. 

Table of Contents 

  • What is Blockchain Patent?
  • Alibaba takes the Lead in Blockchain Patent
  • Other Major companies Dominating the Patent World
  • Concluding Lines 

What is Blockchain Patent?

At present, Blockchain is the most emerging technology that is revolutionizing how industries and businesses operate. Blockchain is a growing list of records, known as blocks, which are linked through the cryptography mechanism. Instead of relying on a middleman/third party, it stores, corroborates, and transfers data over a distributed network, thus providing security and reliability in a cost-efficient manner.

In simpler words, Blockchain patents are exclusive rights that are issued by an official authority. Just like other patents, such patents grant its owner the right to exclude others from utilizing the patented technology. 

Patent applications related to Blockchain have been increasingly growing globally. A detailed study and examination of the patent environment for Blockchain shows that their patents are being filed worldwide for all sectors, including financial and non-financial domains. 

Alibaba takes the Lead in Blockchain Patent

China has always been a king with the highest Blockchain patent filings. According to a patent application filed with the State Intellectual Property Office of China (SIPO) in 2018, the bank planned to use a distributed ledger infrastructure to enhance the efficiency of certificate issuance and save users from constantly sending the same report to different entities. 

Blockchain patents are skyrocketing at present, and compared to the year 2019; there have been more Crypto / Blockchain patents issued. Although Chinese companies are listed as “top 10” Blockchain patent lists, they are not pure companies of the Blockchain.

Dr. D’vorah Graeser, founder and CEO of KISSPatent, believes that analyzing such patents is challenging, and therefore, he decided to introduce an innovative way to analyze the current state of the Blockchain patents. 

According to the report from intellectual property consultancy KISSPatent, Alibaba Group is the largest Blockchain patent holder, capturing ten times the number of patents held by IBM. Alibaba has registered more than 200 patents, while IBM filed a little over 100 patents. The above stats indicate that distributed ledger technology and cryptocurrency solution patents are becoming a thing again in 2020. A report notes that more patents related to Blockchain were published within the first semester of 2020 in comparison to 2019, a year when three times more Blockchain patents were published than in 2018.

Other Major companies Dominating Patent World

Other U.S. companies such as Bank of America and Mastercard have also filed multiple patent applications other than Alibaba and IBM, which reached the list of Blockchain-related patents, exceeding the total for the U.S. The study indicated that it is only big corporations that dominate the field of patents. In terms of Blockchain patents held, behind 

IBM and Mastercard are Nchain and Walmart. The new report by Kisspatent reveals that the U.S. has 2,112 patents, followed by 350 patents from the Cayman Islands and 118 Blockchain-related patents from Canada. Japan with 108, South Korea with 87, and China with 

77 patents in total are the remainder of the top six.

Dr. Graeser. mentioned that, “about half of all Blockchain-related patents we analyzed fell into the fintech category.”

The detailed analysis also illustrates that the Fintech domain dominates Blockchain patents. Applications that concentrate on cryptocurrency exchanges and financial transactions with Blockchain are the most dominating category. The other category that is most common is decentralized business solutions implemented over the Blockchain. 

Healthcare, conventional banking services, and general business services are other crucial categories related to Blockchain patents. 

Concluding Lines 

Blockchain is not just a technology; it even acts as an enabler for other futuristic technologies such as Machine Learning, the Internet of Things, Artificial Intelligence, etc. Presently, there are more than hundreds of million users of Blockchain applications, which also include several Blockchain patent apps. Well-established FinTech companies, including Walmart, Mastercard, and others, desire to file patents for Crypto/Blockchain technologies, and with each passing year, tech giants are filing such patents appear to be increasing. Undoubtedly, Blockchain is here to stay, and it will act as a powerful force in the disruption of technology very soon. 

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

A Comprehensive Guide on Blockchain Patent

Source

Filed Under: blockchain, blockchain technology Tagged With: alibaba, alibaba group, america, analysis, Apps, article, artificial intelligence, Bank, Banking, blockchain, blockchain certification, blockchain council, blockchain developer, blockchain expert, Business, Canada, Cayman Islands, ceo, China, Companies, crypto, cryptocurrency, cryptography, data, decentralized, domains, Environment, Exchanges, fintech, founder, IBM, Infrastructure, Internet, internet-of-things, Japan, korea, Ledger, machine learning, mastercard, other, patent, Patents, security, South Korea, Study, tech, Technology, u.s., Walmart

  • Go to page 1
  • Go to page 2
  • Go to page 3
  • Interim pages omitted …
  • Go to page 6
  • Go to Next Page »

Footer

Design Inspiration

Get the latest on minimalism and white space. Simple as that.

Copyright © 2021 · Revolution Pro on Genesis Framework · WordPress · Log in