Blockchain technology is finding
more applications every day. As the many benefits of blockchain
technology are increasingly recognized, efforts to protect new
innovations and improvements to blockchain technology have led to a
surge in patent filings. Many of those patent filings may never be
granted. When it comes to blockchain technology, successfully
navigating the patent application process means understanding
recent legal developments concerning patentable subject matter.
Earlier this year, the Economist reported that hundreds of blockchain-related
patents are said to be in the pipeline, with financial firms among
the most prolific filers. In the United States alone, the number of
blockchain-related patent applications filed each year has gone
from around 80 in 2014, to well over 200 in 2015. Many more are
likely to have been filed, but are still lurking below the surface,
awaiting publication.
