Tracking Crypto Patent Activity

As blockchain technology becomes more mainstream, companies should consider whether they need to patent their innovations. Patenting crypto and blockchain patents can help protect core business technologies from competitors who may be able to copy or steal the innovation. This can provide a competitive edge and allow the company to continue developing innovative solutions. Resource

Patent-worthy solutions to improve scalability, security and usability are expected to be developed as blockchain networks become more popular. The patenting of these innovations can provide an important source of revenue for the company. Patents also provide a deterrent for others who may try to patent the same or similar inventions.

Tracking Crypto Patent Activity: Trends & Global Insights

New cryptocurrency developments may be subject to subject matter eligibility challenges in patent offices or courts. A patent application should include a detailed description of the technical contribution to prevent an examiner from finding the innovation unpatentable. Claims should be drafted to avoid language that places too much emphasis on financial transactions and economics, and instead include a significant amount of expert technical knowledge.

The best inventors in the field of blockchain patents are WRIGHT CRAIG STEVEN (a bitcoin pioneer) with 286 patents, followed by SAVANAH STEPHANE (an information technology consultant and blockchain expert in London) with 258 patents. In addition, the USA has the highest number of blockchain patent registrations, followed by China and other countries that are members of the Patent Cooperation Treaty. These results indicate that the blockchain technology is advancing rapidly by researchers and inventors.