Tech giants and payment processors across the globe are jumping on the blockchain technology and developing new solutions and offering a wide range of services. Facebook, Amazon, IBM, Microsoft, etc. are few to name. Facebook has recently announced the launch of its Libra coin while Amazon and Microsoft are developing a blockchain-based cloud platform which can replace the current Software-as-a-service platforms.
To achieve an astonishing mark, companies have also been focusing on continuous development and implementation. They have been filing patent after patent that indicates the company’s bullishness on blockchain technology. When it comes to blockchain innovation and patent filings IBM is leading the pack.
Nobody is unfamiliar with how big the tech giant IBM is betting on the blockchain technology. IBM has recently launched its blockchain-based cross-border payment platform World Wire and signed six international banks to launch their stable coins on its platform. IBM seems to be pretty bullish on blockchain technology and has achieved remarkable results.
Merely in a year, IBM’s blockchain-related patents have grown by 300% leaving Bank of America, Master Card, Visa, Intel, and Microsoft behind. IBM is currently leading the pack in blockchain space and is way ahead of many other companies. With 108 active patents, IBM boasts its bullishness and dedication towards blockchain innovation followed by Bank of America (52), MasterCard (43), and Intel (35). IBM is also leading the race when it comes to hiring professionals who possess blockchain-related skills. According to a report by TeqAtlas, IBM came in first with 335 blockchain-related job openings followed by Oracle with 173 job openings.
IBM is also seeking to be the dominant player in this domain and to achieve this the company has been partnering with other high-profile ventures as well. John Wolpert, Global Product Executive at IBM and Co-Founder of its blockchain development division, tweeted that he had “just bought some Chainlink and was trying to set up an oracle.” Nestle and Carrefour are also partnering with IBM. Don’t’ forget about its World Wire platform which can be a direct rival to SWIFT, a cross border payment channel.
Looking at the current scenario, IBM possesses everything that it needs to become the top player in blockchain space. However, the tech giant may face tough competition of China’s Alibaba. China is currently moving at a faster pace when it comes to developing and implementing blockchain solutions and Alibaba is leading the pack when it comes to blockchain-related patents.