IP Review Winter 2019/20

9 and Canada. London’s thriving fintech sector has provided a catalyst for blockchain innovation in the UK and this has resulted in an increase in patent filings originating from UK-based inventors. British scientists and engineers are also sharing their knowledge globally, either as employees of multinational organisations or as partners in international research projects. Claiming an early stake in the future of blockchain As you might expect, large, traditional technology innovators such as IBM and Intel feature amongst the top businesses filing blockchain patent applications. For example, IBM has already over 150 different patent families globally. The list of top filers also features several banks and technology companies, which share a keen interest in data and transactional security. Bank of America, Visa and Mastercard feature in the top 10, as well as the Chinese retail giant Alibaba, which alone has filed 205 blockchain patent families. More surprisingly perhaps, several companies not traditionally associated with technology innovation are also among the top blockchain filers, such as the US supermarket chain Walmart. Blockchain technology is often touted as having the potential to impact a wide variety of businesses, and it is encouraging to see this reflected in the diversity of the top filers of blockchain patent applications. Despite the dominance of large corporates, the fact that blockchain technology is still relatively early-stage means there is an opportunity for smaller, innovative companies to make an impact. Several smaller, specialised blockchain companies, such as CoinPlug and nChain are already filing a large number of blockchain patent applications to establish a significant position in the field. By securing patent protection at an early stage, as an emerging technology is developing quickly, it may be possible to secure control over certain key elements and gain a competitive advantage for years to come. As patent filings increase and dominant players emerge, it may become more difficult for new entrants to break into the market. Therefore, we can expect the number of filings to continue to increase in the next few years as companies try to secure their position in the marketplace. To find out more contact Phil Horler phorler@withersrogers.com Rajan Chauhan rchauhan@withersrogers.com