The situation in China, which has banned cryptocurrencies and their use, is truly paradoxical in the face of blockchain technology.
The latest evidence of this is the data published by the Shanghai daily China Securities Network claiming that China has the highest number of patent applications related to blockchain.
Looking at the specific numbers, there are currently 55,000 blockchain patent applications registered with almost 7,800 companies worldwide. The number of these patents originating in China is about 33,000, which represents about 63% of all applications
China thus confidently ranked first with leading companies such as Alipay, Ping An Property, and Tencent. Specifically, Alipay submitted 7000 applications, Ping An 4000, and Tencent 2000 patent applications.
In terms of development, patent applications related to blockchain technology began to accumulate notably after 2015, with the most significant increase after 2018.