The number of blockchain patents that IBM owns has surged by as much as 300% in a little less than a year. With other major corporations getting seriously involved in the industry, this goes on to show that the interest in the field is steadily increasing.
IBM Dominates Blockchain Patent Ownership
Multinational information technology company International Business Machines (IBM), is leading the blockchain patent ownership across the US, data shows.
Apparently, the company owns around 108 blockchain-related patents, which marks an increase of more than 300% compared to last year. Other recognizable names include Bank of America with 53 patents, MasterCard with 43 patents, Intel with 35 patents, and so forth.
The multinational computing giant recently added to its stack a new application on March 5th. According to the documents published with the United States Patent and Trademark Office, IBM now aims to target network security using blockchain-based technology.
Per the application:
Low security may allow open access to the event logs while high security may significantly restrict access to the event logs. Protecting the monitored system from hackers gaining access to alter the event logs may require a new type of security configuration.
IBM’s Foray Into Blockchain Technology
To say that IBM is stepping into the field of blockchain-based technology is an understatement. The company has been spending substantial resources for quite some time now.
Last August, Bitcoinist reported that the company is spending an estimated $160M on blockchain projects every year. In 2018, IBM was chosen by the Government of Australia as a central technology partner for the upcoming 5 years. The deal was worth $740 million and it covers technology services which include IBM’s blockchain technologies and automation solutions.