Alibaba, IBM and Mastercard Now Have The Most Blockchain Patents

Alibaba

The latest blockchain patent ranking was released recently by iPR Daily. The ranking was published on August 31st and in it you can see the clear leaders in Blockchain innovation by patents filed. The top four are the giants: Alibaba, IBM, Master Card and Bank of America. The fifth spot is taken by the People’s Bank of China, China’s Central Bank. The People’s Bank of China filed 44 patent applications related to their ambitions for a Central Bank digital currency in China. The data was consolidated by iPR Daily from across the world with the help of the World Intellectual Property Organization and the International Patent System.

Alibaba leads with 90 filed patents

The first place was taken by Alibaba with 90 filed Blockchain patents with a close second going to IBM with 89 filed Blockchain...


IBM Debuts 'Blockchain World Wire' Payments System Powered by Stellar

Every quarter we are seeing more Fortune 500 companies making headway into the blockchain with patents and beta testing.

IBM is taking its long-in-the-works blockchain-based payment system out of beta, with the launch of a new product called Blockchain World Wire.

Aimed at institutions and harnessing the stellar blockchain network, Big Blue says its new financial rail "can simultaneously clear and settle cross-border payments in near real-time."

Similar to other blockchain-based payment networks such as Ripple, World Wire attempts to do away with banking intermediaries that add complexity and cost to the traditional international payments systems.

According to a document provided by IBM, the product works by substituting the banking intermediaries normally needed for cross-border payments with digital assets sent over a distributed network.

The company says on its website:

"Two financial institutions transacting together agree to use a stable coin, central bank digital currency or other digital asset as the bridge asset between any two fiat currencies. The digital asset facilitates the trade and supplies important settlement instructions."

Effectively, using World Wire APIs plugged into banks' existing systems, fiat currency is exchanged into a digital asset at bank A. It is then transmitted to bank B, where it is converted into a second fiat currency. "All transaction details are...