Who is Leading the Blockchain Patents Race?

As the price of bitcoin among different digital currencies goes down; and regulatory bodies and organizations begin discussing the potential crackdowns, blockchain gets the spotlight.

A powerful technology that essentially includes records called blocks that contains transaction information and cryptographic hash.

Given the number of blockchain patents getting multiplied for the current year, is proof enough that the banks, well-known brands, enormous organizations and government all have put their emphasis on blockchain technology.

Discussing the areas that are hoping to use the blockchain technology includes 59 percent blockchain specific companies which are essentially the new companies, for example, digital currency exchanges.

With a 20 percent share, financial service industry holds a major lump of the blockchain technology patent holder.

The traditional technology firms additionally catch a noteworthy share which is 13 percent while the rest of the 8 percent is held by different sectors.

Purportedly, around 478 proprietors have filed for 1,045 identified blockchain patents in the US as it were.

The winner with the highest number of Blockchain patents?

With 43 blockchain related patents, Goldman Sachs has emerged as a champ. With the Wall Street financial institution ruling the list, it accentuates the thought that blockchain technology can change the worldwide financial framework.

Cost, transparency, and speed are ever-present difficulties in the domestic and in addition the cross-border payment framework. Consequently, banks are quickly swinging to this innovation to diminish the cost, enhance record keeping, increase speed and improve the back-end functions. Various banks worldwide are exploring with this technology to encourage the payments.