Alibaba Owns a Significant Portion of Existing Blockchain Patents according to New Research

China Leads the Way in Blockchain Patent Race

China is making a significant stride in the blockchain technology sector, with the Chinese government showing a sympathetic stance towards it despite its hostility towards cryptocurrency adoption. This is evident in the country's supportive regulatory atmosphere and the growing number of blockchain patents being filed and issued.

In 2017, China led the world in blockchain patent filings and issuances, accounting for 56% of the global total. The Chinese tech giant, Alibaba, was at the forefront of this movement, filing 43 of the 406 blockchain patents issued that year. Alibaba Group Holdings, led by founder Jack Ma, holds over 10% of the world's blockchain patents.

Jack Ma, a staunch supporter of blockchain technology, believes that it has the potential to change the world more than people can imagine. He recently endorsed Distributed Ledger Technology (DLT) and stated that it could help overcome challenges of security, sustainability, and inclusion, and change the world.

Other Chinese tech titans, such as Baidu and Tencent, have also joined the blockchain patent race. However, the focus on Alibaba, China's second most valuable company, is significant due to its patent holdings, which could potentially attract investors or acquirers.

China's President, Xi Jinping, has described blockchain technology as a "new generation of technologies that will substantially reshape the world's economic future." This endorsement from the highest levels of government, combined with the innovative work being done by Chinese blockchain innovators, positions China as a global leader in the blockchain sector.

John Eastwood, of Eiger-Law's Taiwan-based, commented on China's relentless drive towards blockchain development and adoption. He noted that the country's supportive regulatory atmosphere, coupled with its technological prowess, makes it an ideal breeding ground for blockchain innovation.

It is worth mentioning that Chinese blockchain innovators are applying Distributed Ledger Technology in various industries such as postal services, global financial transactions, supply chain management, and healthcare. However, this article does not delve into the specifics of these applications.

In conclusion, China's support for blockchain technology is evident in its sympathetic stance towards it, despite its hostility towards cryptocurrency adoption. The country's regulatory atmosphere is hostile towards cryptocurrency adoption, but supportive of blockchain technology. This, coupled with its technological prowess, positions China as a global leader in the blockchain sector.