The Chinese IT giant Alibaba filed the highest number of patents related to blockchain-based solutions. US-based IBM and Mastercard follow its Chinese counterpart, but some believe that the main goal of blockchain-related patents is to create positive image.

Major financial and technology companies in China and the United States topped the global rating on blockchain-based solution development. According to the consulting company iPR Daily, Chinese IT-giant Alibaba filed 90 patent applications for solutions related to the blockchain technology. The second place is occupied by the US IT developer and equipment manufacturer IBM with 89 patent applications. The payment operator Mastercard with 80 patent applications stands on the third place.

Bank of America took the fourth place in the rating, filing 53 patent applications for blockchain-based solutions. The fifth place is held by the People's Bank of China (PBoC), which plays the role of the central bank in the country. It filed 44 patent applications relating mainly to the launch of a digital currency issued by central bank.

iPR Daily explored applications submitted to both national patent services in China, the United States, Europe, China and South Korea, and to the International Patent System and the World Intellectual Property Organization.

Yet, some believe that all these patents are "meaningless." Last week, the former top manager of Bank of America, Michael Wuehler, whose name is invoked in 8 patent applications of the bank, expressed the opinion that all applications for blockchain solution filed by Bank of America are aimed only at creating the illusion that the bank is engaged in advanced technical developments, and at forming the image of a technology company.

“My name is on 8 of the 50 Blockchain patents filed by BofA and from my perspective they are meaningless other than making for press releases and public perception of innovation.”