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Chinese universities pursue blockchain patents

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Several leading public universities in China are redoubling their efforts to patent some of the blockchain applications that they have developed.

New data released February 23 and 16 by the Chinese Intellectual Property Office (SIPO) highlight efforts by institutions such as Zhejiang University, Shenzhen University and the Chinese Academy of Sciences to obtain patents. These efforts are a tangible sign of the growing interest – and investment in resources – of Chinese government-funded academic institutions in the area of ​​blockchain research and development.

These changes also come at a time when more and more businesses in China are looking for ways to patent blockchain-related inventions, an effort consistent with the Chinese government's program to advance FinTech applications. As reported by CoinDesk before, major financial institutions, namely the Bank of China, have already weighed on issues such as scaling up the blockchain.

According to documents released by SIPO, Zhejiang University wants to patent a blockchain system based on the cloud that facilitates cross-border payment transactions. The institution further asserts that, instead of transactions transiting through a third party as trustee, the system will record a sender's transaction request on a decentralized blockchain registry consisting of distributed cloud servers.

Meanwhile, the Chinese Academy of Sciences, based in Beijing, is considering a blockchain system capable of "simultaneously supporting public, private and consortium-based blockchains," according to the archives.

By cons, the University of Shenzhen is pursuing a patent related to a specific use case – the intellectual property rights for artists – that uses this technology to mark and trace works. The system would also facilitate some sort of tamper-proof art exchange system if it is fully realized.

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See the complete patent application of Zhejiang University below:

Zhejiang University Patent Application by CoinDesk on Scribd

Image of the University of Zhejiang via Shutterstock

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