A number of the top-tier public universities have revealed their plans to move ahead and ramp up efforts to patent blockchain applications developed on campus. According to data published on Feb. 16 it was clear that institutions such as Chinese Academy of Sciences, Shenzhen University and Zhejiang University sought to get patents associated with the tech.
It goes without saying that the efforts are a tangible showcasing of the rising interest as well as the investment of resources from several institutions that are funded by the government of China in the field of blockchain research and development.
A person familiar with the matter opined, “The resolution pulls a long at a time when an increasing number of companies in China are seeking ways to patent blockchain-related inventions, an effort that is in line with the Chinese government’s agenda to push forward with FinTech applications.”
The other thing is also that several huge financial institutions, one of them being the Bank of China have already scrutinized issues such as blockchain scaling and done a proper weighing. SIPO has published many records and one of them is what brings to the limelight the fact that Zhejiang University has plans underway to move ahead and patent a cloud-based blockchain system that will most probably cater for the cross-border payment transactions.
The institution went further to make more claims asserting that the instead of the transactions moving via the third party as the trustee, the system would be recording the request by the sender. That will of course be on the decentralized blockchain ledger which at its basis is constituted by several distributed cloud servers.
In the meantime, the Beijing-based Chinese Academy of Sciences has outlined that in months to come it will be in pursuit of the patent linked to the specific use case. In this specific regard it will be the intellectual property rights for artists.
At its core it utilizes technology as the mechanism to trace or tag works and market observers see the changes sweeping across the globe as progressive ones. And which are a reassurance for a better tomorrow.