Multinational Global Companies in China Rush in to Register Patents

China's National Intellectual Property Office said that patent applications related to blockchain development in China are currently in full swing and approved 2,191 blockchain patents between 2017 and 2019. Large multinational companies are also showing keen interest in applying for blockchain patents in China.

Thirty-five multinational companies, including Microsoft, MasterCard, Intel, Sony and Wal-Mart, applied for a total of 212 blockchain patents by the end of March 2020, with MasterCard applying for 46 patents, the largest number among foreign companies.

Most of the patents are reportedly focused on payment methods, payment software and payment security.

For now, there are no reports that MasterCard has started business in China in particular, so their patent application may be a preparation for the international blockchain payment system the company is jointly developing with blockchain firm, R3.

In addition, Nokia applied for 13 blockchain patents in China, 12 cases for Intel and nine cases for Oracle.

Meanwhile, among multinational global companies, large U.S. IT companies such as IBM, Google, Facebook and Amazon have not applied for blockchain patents in China.

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