China-based digital financial institution, WeBank, rose to 3rd place for variety of Blockchain patents filed globally in 2019. Alibaba and Tencent took the primary and second locations respectively.
Based on the report printed on April 24, the digital financial institution has climbed from fifth place to 3rd after submitting practically 632 patents in 2019. 80% of them had been associated to applied sciences like blockchain, AI, cloud computing, and massive information.
Blockchain patent classes
WeBank’s patents have centered on open supply consortium chain infrastructure (48%), middleware (40%), and different options (12%) associated to algorithms, privateness safety, and cross-chain tech.
The patents filed by WeBank present that the banking trade is growing its fintech capabilities, relatively than constructing a guarded fortress round current infrastructures, in response to the report.
In 2019, WeBank introduced a brand new open-source fintech technique that goals to collaborate with builders throughout the globe.
This consists of Federated AI Know-how Enabler, or FATE, FISCO BCOS, which is a consortium chain platform constructed along with FISCO open-source process power staff, and open-source huge information platform suite, WeDataSphere.
Open-source tasks underway
On April 16, Cointelegraph reported that WeBank was exploring the combination of the DAML good contract language for its consortium blockchain, FISCO BCO, which is the chain that can undergird China’s nationwide Blockchain-based Service Community.
The digital financial institution stated that it could assist to ship pioneering blockchain options throughout finance, provide chain, and different sectors worldwide.
