A wide array of corporations, including Alphabet Inc.’s Google and Bank of America, are lining up to enter a potentially lucrative club: one that allows them to own patents on blockchain technology.
Blockchain technology is gaining traction amongst mainstream financial service providers as the technology guarantees security, decentralization, cheaper transaction fees and faster ways of sending funds across the globe. Mastercard has also not been left behind in these developments. This is after it was rumored as being one of the payment card providers that refused to support Litecoin (LTC) and its Litepay project.
The blockchain is taking China by storm as companies in the country are lining up left and right to file patents related to the emerging technology — despite the country’s crackdown on ICOs, cryptocurrency mining, and trading.
A new patent filing from Sony highlights how the Japanese tech conglomerate may be using blockchain as part of an education platform.