nChain Dominates the Blockchain Patent Race in Q4 2023 Amidst Industry-Wide Slump

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Feb 06, 2024, 08:22 ET

ZUG, Switzerland, Feb. 6, 2024 /PRNewswire/ -- nChain, a global leader in Web3 and Blockchain solutions, has been recognized as the leading company for blockchain-related patent filings in Q4 2023, as highlighted in the latest report from Global Data. This achievement comes during a time when the technology sector saw a significant decline in blockchain-related patent filing.

Global Data's report 'Technology: Patent Trends Q4 2023, reveals a 48% decrease in blockchain-related patent filings in Q4 2023, decreasing from 2,955 in Q3 2023 to just 1,523. Despite the overall decline, nChain demonstrated its continued commitment to innovation by filing 77 blockchain patents from October to December 2023. This figure represents a slight decrease from the 114 applications filed in Q3 2023 but still puts nChain in Global Data's top spot and well ahead of the second-place Bank of America, which filed 39 applications in Q4.

The report also highlights its focus on the geographical landscape of blockchain patent filings. The United States had the most filings, making up 58% of the total in Q4, a significant increase from 27% in Q3. China and UK followed with 8% and 2% of the filings, respectively.

Robert Alizon, Chief IP Officer at nChain said, "Our main goal is to support entrepreneurs on the BSV Blockchain in building profitable enterprises while extending our reach to developers across different blockchain platforms through a forthcoming licensing model. This approach not only signifies our commitment to nurturing the BSV community but also ensures that all participants, regardless of the blockchain technology they employ, fulfil their obligations by obtaining a license from nChain. Our leading position in the Global Data report reflects our ongoing commitment to innovation and excellence in a rapidly evolving market."

nChain has a heavyweight R&D team dedicated to turning its vast IP library into workable applications. The company was recognized in the LexisNexis Innovation Momentum 2023: The Global Top 100 report of companies advancing innovative solutions to today's challenges and laying the IP foundations for further breakthroughs.  Last year, Ayre Group announced an investment of up to CHF500 million (€516 million/£443 million) in nChain, including an IP licensing deal for Ayre Ventures portfolio companies.

Calvin Ayre, Founder of Ayre Group said, "Our commitment to nChain and its groundbreaking work in blockchain technology reflects our belief in the transformative power of nChain's IP. We are excited to support nChain as it leads the way to shaping the infrastructure of this new internet."

nChain's position as a leader in the field remains strong. The company's significant patent activity, along with strategic investments, sets the stage for continued leadership and innovation in the field of blockchain technology.

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About nChain

nChain is a leading global blockchain technology company, offering software solutions, consulting services and IP licensing for clients in various industries looking to benefit from the security, transparency, and scalability of the blockchain. Founded in 2015, with offices in Lichtenstein, Switzerland, the UK and Slovenia, nChain employs more than 260 staff and has a patent portfolio of over 3,900 patents and applications, of which over 1,090 have been granted. nChain is the developer of the Bitcoin SV Node software, Teranode, Lite Client and more.

About Ayre Group

Ayre Group are a global investment group that fund ground-breaking businesses and technologies. They invest in building ventures in real estate, blockchain technology, media, publishing, health & wellness, and travel & leisure. Ayre Group build and support technology and businesses that break down barriers to entry, democratize opportunity, and positively enhance people's lives.

SOURCE nChain