The Chinese holding company Ping An overtakes Tencent in the blockchain patent race

According to a new report, the Chinese holding conglomerate Ping An Group filed the most blockchain patents in 2020.

Intellectual Asset Management magazine published a report on the ranking of the world’s leading blockchain patent holders. Based on data from the Derwent World Patents Index, the rankings show that Ping An filed 1,215 blockchain patent families in 2020, more than Tencent and Ant Group combined.

Ping An owns a total of 1,749 blockchain patent families and has significantly increased its number of patent applications in 2020 from just 291 in 2019. Based in Shenzhen, Ping An operates a financial and insurance conglomerate that provides a wide range of services including banking. Asset management and trusts. The company has solidified its presence in the industry and Ping An Bank launched a blockchain-focused boutique in 2018.

Ping An has overtaken Tencent by the total number of historically filed patent families, with Tencent having a total of 1,666 patent family applications. Ant Group, which filed 586 patents last year, remains the largest blockchain patent holder with a total of 2,298.

Source: Intellectual Asset Management

The global tech giant IBM is the only American company mentioned in the report that ranks fourth with a total of 647 blockchain patents as of 2019. Although Chinese companies lead the world in number of patents, IBM’s blockchain patents have the highest citation rates in the industry. The company also owns some of the earliest intellectual rights in the blockchain space, the report said.

Source: Intellectual Asset Management

According to the report, the number of annual global blockchain patent applications has steadily declined over the past three years, falling from 12,300 in 2018 to 11,299 in 2019. In 2020, a total of 9,415 blockchain-related patent families were filed.