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Demand Gap for Blockchain Talent Requires Top Rated Education

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If you are a Blockchain enthusiast, you must be aware about its talent scarcity. In this article, we will explore what are the top-rated educational ways that can help in bridging the gap for Blockchain talent. So let’s get started.

Table of Contents 

  • The Growing Shortage of Blockchain Talent 
  • Blockchain Job Market is Booming 
  • Role of Education in Bridging the Gap
  • Conclusion: Career Building Opportunities with Blockchain Council

The Growing Shortage of Blockchain Talent 

Technology that was once considered to be overhyped is now recognized as a promising innovative technology. Since its introduction into the mainstream with other emerging technologies such as AI, IoT, and others, Blockchain developers and technocrats have found it revolutionary. Although the technology is maturing at a rapid rate, the growing shortage of blockchain professionals is a well-documented concern all around the world.

At present, there has been an unparalleled demand for blockchain developers. Major tech giants, including Google, Microsoft, IBM, and other well-known enterprises and even startups, have started leveraging Blockchain technology, but they are struggling to find sufficient talent. 

Blockchain Job Market is Booming 

The salaries of Blockchain professionals are going off the charts. This is because of the fact that demand is highly outweighing the supply. Currently, Blockchain talents are in demand in the BFSI sector and almost in all sectors of the economy, including government institutions, federal agencies, healthcare, manufacturing, automobile, art and music supply chain, gaming, and much more.

Due to continuous efforts by Blockchain developers and experts, today, Blockchain is a matured technology that offers futuristic career opportunities to all enthusiasts. Compared to other IT professionals such as Machine Learning Experts, AI Developers, Data Scientists, Blockchain Professionals salaries stand out exceptionally well. 

According to job recruitment firm Hired.com, the average blockchain developer salary ranges from $150,000 to $175,000 per year in the US’s hi-tech regions, such as Silicon Valley whereas, Glassdoor reports that the average base salary of a blockchain developer in the US is $91,715/yr. 

Role of Education in Bridging the Gap

Initially, the market for blockchain talent was hampered by a lack of knowledge of the technology and limited resources accessible to professionals. However, this aspect has changed over the last couple of years. Companies that were struggling to find adequate talent have started their own educational programs. In order to cope up with the talent scarcity, online programs, university courses, and workshops are popping up at an exciting rate.

Let’s explore some of the best educational ways.

  • Truffle Suite and Hyperledger Fabric Document 

To educate learners about Blockchain technologies, there are online platforms such as Truffle suite and Hyperledger Fabric. Truffle Suite is an open-source framework that provides an in-depth, in-depth understanding of blockchain platforms, libraries, tools, etc. Similarly, Hyperledger Fabric Documentation offers online documentation that provides numerous tutorials at beginner’s level, covering architecture reference, operational guide, and much more, enabling learners to learn and progress.

  • Blockchain Council Certifications 

Backed by the extensive practical-based sessions, Blockchain Council offers Online training and certifications to aspiring students to render the desired competence to have a successful career in the Blockchain/crypto domain. It imparts most in-demand Blockchain certifications in various Blockchain technologies, including Bitcoin, Ethereum, Hyperledger, Quorum, and Corda. 

  •  In-house and Self-Paced Blockchain Training

Companies are currently looking to integrate blockchain-focused solutions, and for this, they are providing in-house training to build up the skill sets required for their organization. Such training helps employees address specific business needs and provide Blockchain-focused solutions for business growth. 

  • Self-paced training sessions have also started getting public attention because they are convenient, cost-effective, allow better focus, and of course, enhance the learning experience. There are many organizations that are offering Blockchain self-paced training to help the learner understand all the ins and outs of blockchain technology, including smart contract, Blockchain mining, its security and privacy, use-cases across various domains, and much more. 

To explore more about self-paced Blockchain training, checkout Blockchain Council. 

  • Blockchain-Based Communities and Webinars 

For a great initial experience, Blockchain communities and webinars can prove to be beneficial. These can help in providing effective platforms for communication and can even open vast opportunities for earning money. Apart from these, such platforms can facilitate communal support and engagement. For instance, the Blockchain Council Community is delivering education all around the world. Similarly, Cointelegraph, Blockchain News can keep you updated about the Blockchain and Crypto domain. 

Conclusion: Career Building Opportunities with Blockchain Council

As Blockchain is maturing, there’s an extensive professional network to help you become a successful Blockchain Professional. Enrolling in Blockchain Council, a globally recognized online platform, can help you gain in-depth knowledge of functional and technical aspects of Blockchain technology. Blockchain Council Certifications will not only prove to be your competitive advantage; instead, it will help you gain confidence in the quick hire. 

Blockchain Council has proved to be successful in creating a successful future for millions of people all around the world. If you want to give your career a head start, this is a one-stop solution.

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

Demand Gap for Blockchain Talent Requires Top Rated Education

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Tesla buys BTC, Mastercard supports crypto, DOGE founder speaks out: Hodler’s Digest, Feb. 7–13

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Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

Bitcoin hits all-time highs as Tesla invests $1.5 billion

The past week is going to go down as one of the best in Bitcoin’s history. It all began when an SEC filing revealed Tesla has invested $1.5 billion in BTC and planned to start accepting crypto as a payment method.

BTC’s price immediately leaped to record highs on the news, surging by 20% in 24 hours. The announcement came weeks after Elon Musk added #bitcoin to his bio and revealed he supported the cryptocurrency.

Tesla’s Bitcoin exposure represents about 7.7% of its gross cash position, and the news has sparked hopes that other major corporations will follow suit. Galaxy Digital’s Michael Novogratz predicted that “every company in America” will emulate the electric vehicle maker by allocating part of its balance sheets to BTC.

But some treasury experts have been left scratching their heads over the change in Tesla’s investment strategy, with critics describing the move as “unusual” and “risky.” JPMorgan also piled in and said the purchase might not trigger a ton of similar investments.

Mastercard announces support for crypto on its network in big week for adoption

Tesla was just the tip of the iceberg, with a flurry of announcements proving that Bitcoin is now firmly in the mainstream.

Mastercard unveiled plans to start supporting crypto this year, paving the way for almost 1 billion people to spend digital assets at more than 30 million merchants. The company said the move was about giving its customers choice.

Elsewhere, PayPal revealed that its crypto service is going to be rolled out in the U.K., making it the first international market since a successful launch in the U.S. last fall.

Twitter, home to crypto-friendly CEO Jack Dorsey, confirmed it is looking into how it might pay employees who wish to be compensated in Bitcoin. Chief financial officer Ned Segal added that the social network is exploring whether it needs to have BTC on its balance sheet.

There was more to come. BNY Mellon, America’s oldest bank, announced that it will offer crypto custody services for institutional clients. Its chief executive, Roman Regelman, told the WSJ: “Digital assets are becoming part of the mainstream.” Other major banks, such as JPMorgan, now believe they’ll eventually have to get involved in BTC.

Speculation is now growing that Apple will be one of the next companies to embrace Bitcoin. The cherry on top of the cake came when the crypto-focused fintech platform BitPay revealed that card owners can now pay for goods and services using Apple Pay.

Key Bitcoin price metric signals traders are positioned for $50,000 

BTC surged beyond $43,000 without breaking a sweat on Monday, besting last month’s all-time high of $42,000. As the week progressed, Bitcoin managed to hit $48,900.

Many high-profile analysts openly predicted last year that $50,000 was a realistic price target for 2021. Just six weeks into the year, BTC has come tantalizingly close to this level.

Despite Bitcoin’s value trebling in the space of just three months, several crypto traders believe that the scene remains exceedingly bullish… and those looking for a local top might end up being disappointed.

One analyst, Cheds, told Cointelegraph: “In my view, bulls are still in complete control, and every day, we get more news of institutional adoption and demand and that, more than anything, will be the driving force.”

Another, CryptoWendyO, described $50,000 as “inevitable,” adding that a Bitcoin tweet from Musk could send BTC to $54,000.

Ethereum hits a new all-time high as CME futures go live

ETH broke $1,800 this week, setting new records several times along the way. All of this came as Ether futures made their long-awaited debut on CME.

It’s also been a very lucrative few days in the altcoin markets. Cardano has surged 71% over the past seven days, and Polkadot is up 49%, with Binance Coin crushing the competition after clocking gains of 103% in the space of a week. Even XRP managed to break $0.60 once again, which has the Sword of Damocles hanging over its head.

BNB’s gains are undoubtedly linked to the record levels of traffic coming to the Binance exchange, with the platform suffering an outage on Thursday as it went down for maintenance.

The total value locked in decentralized finance also managed to crack $40 billion this week. However, much of this surge is likely down to the soaring value of Ether rather than a dramatic explosion in activity.

Founder of Dogecoin sold everything in 2015 for “a used Honda Civic”

Not everyone is rolling around in $100 bills as a result of the crypto bull run. Dogecoin founder Billy Markus has revealed that he sold off his DOGE stash in 2015 for an amount equivalent to a used Honda Civic.

All of that means that he missed out on the Dogecoin mania that has helped the joke cryptocurrency gain 900% since late January, fueled by tweets from Elon Musk.

Writing on Reddit, Markus said that he can’t comprehend the prospect of DOGE ever reaching $1, writing: “That would make the ‘market cap’ larger than actual companies that provide services to millions, such as Boeing, Starbucks, American Express, IBM.”

Musk recently revealed that he had bought some DOGE for his nine-month-old son so he can be a “toddler hodler,” but there are fears that his days of tweeting about crypto could be numbered. Legal advisors have warned the billionaire that his social media activity and public statements could come under scrutiny from the SEC.

Winners and Losers

At the end of the week, Bitcoin is at $47,592.20, Ether at $1,836.68 and XRP at $0.60. The total market cap is at $1,477,578,548,979.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Avalanche, BitTorrent and The Graph. There’s just one altcoin loser in the top 100 this week: Ampleforth.

For more info on crypto prices, make sure to read Cointelegraph’s market analysis. 

Most Memorable Quotations

“Cryptocurrency has become a worldwide transaction of which you cannot even identify who owns what. The technology is so strong that I don’t see the kind of regulation that we can do. Bitcoin has made our currency almost useless or valueless.”

Sani Musa, Nigerian senator

“Elon Musk has exposed Tesla to immense mark-to-market risk.”

Peter Garnry, Saxo Bank head of equity strategy

“I see the promise of these new technologies, but I also see the reality: cryptocurrencies have been used to launder the profits of online drug traffickers; they’ve been a tool to finance terrorism.”

Janet Yellen, U.S. Treasury Secretary

“New account registrations are still open, not sure for how long. Also seeing ATH on this. Better get an account soon.”

Changpeng Zhao, Binance CEO

“It would not be surprising — given the focus on the chief executive’s tweets, Bitcoin pricing and recent dramatic market moves — for the SEC to ask questions about the facts and circumstances here.”

Doug Davison, former SEC enforcement official

“Digital assets are becoming a more important part of the payments world. We are here to enable customers, merchants and businesses to move digital value — traditional or crypto — however they want. It should be your choice, it’s your money.”

Mastercard

“Bought some Dogecoin for lil X, so he can be a toddler hodler.”

Elon Musk, Tesla CEO

“The main issue with the idea that mainstream corporate treasurers will follow the example of Tesla is the volatility of Bitcoin.”

JPMorgan

“We’ve done a lot of the upfront thinking to consider how we might pay employees should they ask to be paid in Bitcoin, how we might pay a vendor should they ask to be paid in Bitcoin, and whether we need to have Bitcoin on our balance sheet.”

Ned Segal, Twitter chief financial officer

“Markets are going up heavily, but we’ll be seeing some downwards momentum as well. Nothing goes up in a straight line.”

Michaël van de Poppe, Cointelegraph Markets analyst

“I wouldn’t be surprised to see there being almost some sort of a race now — you have Elon Musk, you have Michael Saylor, Jack Dorsey. You’re gonna see a lot of other visionary leaders in disruptive companies actually realizing that it’s really moved from ‘why’ to ‘why not.’”

Michael Sonnenshein, Grayscale CEO

“The target for consolidation is near $52k, where I’m expecting a bit of a correction but the measured move overall should take us towards $63,000.”

filbfilb, Cointelegraph Markets analyst

“Any wallet that won’t give you your private keys should be avoided at all costs.”

Elon Musk, Tesla CEO

“Central banks should ban the trading of it, and force anyone who holds Bitcoin and wants to use it in any transaction, to exchange it for another currency that does not have such a damaging side effect.”

Nick Boles, former British MP

“ETH futures go live on the CME today. This is huge. This is a bridge to institutions. This is a green light from U.S. regulators. ETH is becoming globally accepted commodity money.”

Ryan Sean Adams, Ethereum researcher

“If [Apple] decides to enter into the crypto exchange business, we think the firm could immediately gain market share and disrupt the industry.”

Paul Steves, Royal Bank of Canada Dominion Securities

“We expect to begin accepting bitcoin as a form of payment for our products in the near future.”

Tesla

Prediction of the Week

Bitcoin price poised to hit $63,000, says trader filbfilb

The popular analyst filbfilb has declared that “the game has changed” for Bitcoin — and has revealed what he thinks will come next for the world’s biggest cryptocurrency.

The Cointelegraph Markets contributor has said that he’s anticipating “a bit of a correction” once BTC hits $52,000 but believes “the measured move overall should take us towards $63,000.”

And on the matter of corporate adoption, he wrote: “I really don’t think people understand that S&P 500 companies owning Bitcoin means that by default people’s pensions are exposed to Bitcoin. The % of people invested in Bitcoin has already reached the masses, they just don’t even know it.”

FUD of the Week 

Ethereum-based social media project shuts down as ETH fees approach new highs

An Ethereum-based project has ceased development due to rising gas prices, as the cost of transacting on the blockchain continues to push new highs.

Unite, which aimed to offer social media tokens, said the original idea for the project has been rendered unfeasible by the recent spike in fees, with the average cost of using Ethereum rising by a staggering 35,600% since last January.

The startup intended to allow social media users on sites such as Twitter and Discord to distribute Ethereum ERC-20 tokens to their audience and community. Developers also confirmed that they have decided against building the platform on a layer-two solution.

FTX CEO claims competitor responsible for racist messages delivered to Blockfolio users

Blockfolio’s Signal feed was briefly compromised this week, with some users receiving racist messages within the company’s app.

Now, FTX CEO Sam Bankman-Fried, who acquired Blockfolio for $150 million last August, has shed light on what happened following a security review.

He claimed that the offensive content was produced and published by a competitor exchange that maliciously gained access to someone’s account.

Bankman-Fried didn’t name the culprit but stressed that funds were not jeopardized at any time. He also confirmed that Blockfolio has now fixed the vulnerability that led to this situation.

The executive has been praised for his handling of the situation, and he has apparently added $10 to the trading accounts of affected users, as well as donating to organizations dedicated to fighting racial and societal injustice.

India’s crypto ban is coming, hodlers to be given transition period: Bloomberg

An unnamed senior finance ministry official has claimed that India will soon completely ban crypto assets.

It’s reported that the use of cryptocurrency in all forms will be prohibited under the new law — meaning transacting through foreign exchanges won’t be allowed either.

Crypto exchanges have reacted with dismay to the news. Unocoin co-founder Sathvik Vishwanath said: “If government goes ahead with banning all cryptocurrencies, except the one backed by the state, it will not make sense to continue our business in India. But we’ll have to wait and watch.”

The Indian government has been determined to clamp down on crypto use after the supreme court overturned the RBI’s blanket ban on local banks providing services to businesses dealing with crypto.

Best Cointelegraph Features

Moment of truth? Tesla purchase is the moment Bitcoin has been waiting for

Despite some expected near-term volatility, Tesla’s exploration of the crypto realm will likely help the industry scale up to new heights.

Coincidence? Company stocks rise after they buy Bitcoin as a reserve

The market caps of most companies that bought Bitcoin have increased recently, but is that solely thanks to BTC?

A new trend? Non-crypto CEOs and celebrities embrace Bitcoin on Twitter

Are business leaders signaling the technological future they believe is coming to pass — an international and decentralized one?

Tesla buys BTC, Mastercard supports crypto, DOGE founder speaks out: Hodler’s Digest, Feb. 7–13

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Major Cloud Service Providers Showing Increased Interest in Joining Blockchain Networks

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Major-Cloud-Service-Providers-Showing-Increased-Interest-in-Joining-Blockchain-Networks

The advent of Blockchain has taken the world by storm. At present major cloud providers are considering adopting Blockchain for bringing trust and better collaboration among stakeholders. In this article, we will talk about how Blockchain is revolutionizing the globe and why cloud service providers are showing increasing interest in this technology.

Table of Contents

  • Blockchain: The Invisible Technology Revolutionizing the World
  • Leading Cloud Service providers Joining Blockchain Networks
  • Conclusion: DLT+Cloud Technology= Digital Transformation

Blockchain: The Invisible Technology Revolutionizing the Word

Blockchain is a revolutionary technology that is changing the complete landscape of the finance industry. It’s not an in-your-face innovation you can see and touch; rather, it is an innovation that enables you to trust what happens online.

As technology is becoming more mature, this decentralized distributed ledger technology is shifting from emerging tech into a useful business tool. Due to its high potential to offer transparency and immutability, tech giants and enterprises are showing an increased interest in joining blockchain networks. For bringing trust and better collaboration to multiple entities sharing sensitive business data, top companies have started considering Blockchain as a crucial business tool for digitization. Major cloud service providers such as Google, IBM, Microsoft are also showing increased interest. 

Want to gain an in-depth understanding of Blockchain Technology? Looking for the best Blockchain Certifications? Check out Blockchain Council now!

Leading Cloud Service Providers Joining Blockchain Networks

We noticed that Blockchain is more than a technology now. Let’s explore how top cloud providers are joining blockchain networks and getting advantage of it. 

  • Google Cloud

In Feb 2020, Google Cloud joined Hedera Hashgraph’s governing council. Hedera Hashgraph CEO Mance Harmon mentioned that it would be running its network node on the Google Cloud Platform to ensure the distributed nature of the network. The collaboration of Google with Hedera’s Hashgraph’s governing council indicates that Google appreciates the distributed model. 

According to the recent announcement, Google Cloud has joined the EOS blockchain community to become a network block producer. Google Cloud developer and advocate, Allen Day, mentioned that his company had started the process to become a block producer and noted that Google is interested in distributed ledger technologies like Blockchain. 

In his words, 

“We are seeing active enterprise participation in these sorts of networks, and believe Google Cloud can reduce the friction for companies to run their own Google Cloud-hosted nodes on the network. 

Apart from this, Google cloud claims to offer cloud infrastructure to Block. one as well, that will help them to host their own development efforts.

  • Amazon Web Services

In the month of August, it was announced that China’s first government-backed blockchain initiative had launched an official international website. In order to provide Cloud’s support, it was seen that Google and AWS were listed as top cloud service providers for China’s Blockchain-Based Service Network. The major reason for providing such Cloud services was the idea and vision of BSN. 

  • Microsoft 

What-is-Microsoft-Azure-cloud-servicesIn addition to supporting Cloud services for distributed ledger technology, tech giant Microsoft announced that it is integrating Lition blockchain(which is a commercial blockchain) into its Azure cloud marketplace. Integrating Litecoin with Azure will enable Microsoft Azure’s enterprise clients to develop, test, and deploy Litecoin side chains in just a few seconds. The report mentioned that Microsoft became the first to bring Blockchain to the Cloud, and the company continues to remain at the cutting edge of blockchain adoption.

Conclusion: DLT+Cloud Technology= Digital Transformation

Allen Day, a developer advocate at Google Cloud, believes that distributed ledger technologies like Blockchain play a crucial role in enabling digital transformations. By engaging in blockchain networks, Google Cloud is ramping up its own security operations. Allen Day clarified that Google Cloud would leverage enhanced EOS security protocols and build security to provide in-depth defense across progressive layers. 

Kevin Rose, Sr. Vice President of public blockchain engagement at Block.one also expressed his views about the integration of Blockchain in cloud services. He mentioned that Google Cloud with EOS would profit both the parties and will bring new business models to drive the digital economy. 

Alistair Rennie, general manager of IBM Blockchain, stated that on integration, Blockchain addresses the missing element of trust and transparency (between the participating parties)that cloud technology solely is unable to provide. He considers Blockchain as an innovative technology to enable a greater level of trust and seamless collaboration among numerous stakeholders.

If you want to gain in-depth knowledge about Blockchain Technology, check out Blockchain Council. 

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

Major Cloud Service Providers Showing Increased Interest in Joining Blockchain Networks

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World’s Top Vehicle Manufacturers is Leveraging Blockchain-Based “Birth Certificates” to Combat Used Car Fraud

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World’s Top Vehicle Manufacturers is Leveraging Blockchain-Based “Birth Certificates” to Combat Used Car Fraud

According to the latest announcement, Mobility Open Blockchain Initiative, a member-led consortium that works to create and promote high industry standards for smart mobility Blockchain adoption, has launched an initiative in order to track the purchase and maintenance of the history of second-hand vehicles.


Mobility Open Blockchain Initiative (MOBI) is aiming to combat used car fraud with Blockchain-powered “birth certificates.” 

Established in 2018, MOBI missioned to accelerate the adoption of Blockchain technology in the automotive domain.

It was reported that the initiative will utilize distributed ledger technology, Blockchain, to track the registration of vehicles and maintenance history using “VID II,” which is MOBI’s second vehicle identification standard. 

Apart from the automotive industry, other use cases for VID include supply chain, autonomous vehicle data exchange, supply chain, etc.

MOBI’s VID II is co-chaired by the world’s top vehicle manufacturers BMW and Ford. Other supporting initiatives are IBM, Quantstamp, Honda, Hitachi America, AutoData Group, Bosc, Quantstamp, among others. 

How will VID II Help?

According to the report published, the initiative will help reduce fraud in the second-hand vehicle markets and maintain traceability.

The report further revealed that on the Blockchain, vehicle registration grants previously disconnected vehicle registration systems between states and countries to connect using a distributed shared ledger. Furthermore, maintenance traceability will offer a tamper-proof history. 

MOBI COO and Co-Founder Tram Vo expressed his opinions regarding this initiative. He stated that he expects this automatic network for frictionless transfer of value in the New Economy Movement to bring millions of opportunities and possibilities to monetize vehicles, services, and infrastructure.

BMW’s Andre Luckow, believes that the reference architecture in the VID II standard is a key building block in reconstructing a frictionless mobility ecosystem.

Cynthia Flanigan, Director, Vehicle Research and Technology, Ford Research and Advanced Engineering, also believes that this research into vehicle identity technology could bring better opportunities in terms of ownership and help clarify the purchasing process in the near future.

It is believed that the VID standards, along with other MOBI standards for Blockchain applications in the mobility ecosystem, will increase mobility services and lessen frictional inefficiencies to a great extent. 

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

World’s Top Vehicle Manufacturers is Leveraging Blockchain-Based “Birth Certificates” to Combat Used Car Fraud

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A Comprehensive Guide on Blockchain Patent

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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

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Blockchain patent filing rose significantly in China after Xi Jinping’s 2019 endorsement

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Recent figures published by Chinese media outlets show that companies in China have filed for over half of all global blockchain patents.

According to a report titled “2020 Blockchain Industry Development”, Chinese companies have applied for 4,435 blockchain patents following Chinese president Xi Jinping’s endorsement of the industry. The study was jointly compiled by Tsinghua University, Peking University, and China Institute of Communications.

During a committee session in October 2019, President Xi called for the country to accelerate its adoption of blockchain technologies as a core for innovation.

According to the study, tech giant Alibaba Group had applied for the highest number of blockchain patents in 2020 at a whopping 200 patents. That is 10x more than the number filed by IBM during the same period.

Major multinational companies have also shown immense interest in filing blockchain patents in China. Cointelegraph reported a study that suggested 35 multinationals including Microsoft, Walmart, Mastercard, Sony, and Intel had applied for a total of 212 blockchain patents as of March 2020.

Back in 2018, the World Intellectual Property Organization, or WIPO, reported that the most patent filings for Blockchain technology came from China.

Data collected by Thomson Reuters from the international patent organization likewise showed that over half of the 406 patents filed in 2017 came from China. The country took the top spot with 225 Blockchain patents, followed by the US with 91, and Australia with 13.

Blockchain patent filing rose significantly in China after Xi Jinping’s 2019 endorsement

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