The Booming Patent Landscape
In 2017, the United States witnessed a technological renaissance likened to the gold rush, albeit this time with digital gold. Patent applications related to Blockchain technology and digital currencies submitted to the US Patent and Trademark Office (USPTO) skyrocketed, almost doubling compared to the prior year. Imagine a party where the guest list grew from 204 in 2016 to a whopping 390 in just the first half of 2017. That’s a 90% increase, and it doesn’t seem like the confetti is about to settle anytime soon!
Keywords Driving Innovation
But what’s fueling this frenzy? An analysis of the patents reveals that innovation is thriving on some hot topics: terms like “distributed ledger,” “Bitcoin,” “Blockchain,” and “Ethereum” are not just buzzwords; they’re the building blocks of a burgeoning industry. It’s like a treasure map, leading researchers and developers into the depths of Blockchain R&D!
Cross-Sector Appeal
Interestingly, the interest in Blockchain isn’t confined to the tech-savvy. Both public and private sectors are diving headfirst into this new frontier. Patent applications have emerged, targeting various functionalities such as:
- Bitcoin mining derivatives
- Blockchain-based shareholder voting
- In-car cryptocurrency payment systems
Gone are the days when only tech companies cared about cryptocurrency; now, it’s the corporate and government circles scrambling to stake their claim.
A Five-Year Perspective
Taking a step back to examine a five-year trend (2012-2016) reveals a meteoric rise in Blockchain and virtual currency patent applications. From a mere 71 applications in 2012, the number leapt to 469 by 2016. If this were a velocity test, Blockchain would surely ace it!
Patent Approvals on the Rise
And it’s not just applications piling up; patent approvals are also gaining ground. The USPTO approved 70 applications in 2013, a number that effectively doubled by 2016, hitting 152. Among the highlights of this impressive list was the “SETLcoin” digital currency patent filed by Goldman Sachs, along with AT&T’s innovative Bitcoin-powered subscriber server. Talk about heavyweights entering the ring!
Conclusion: A Bright Future Ahead
All these indicators suggest an exciting trend in Blockchain technology and cryptocurrencies that can only be described as upward and onward! The sheer volume of patents filed and approved points to a bright future of innovation, illustrating that trust and adoption of this new technology is not just a fad but a factor of stability and growth in multiple sectors.
