China has been a hotspot for blockchain patents and development. As Cointelegraph previously reported, the National Intellectual Property Administration of China has awarded 2,191 blockchain patents between 2017 to 2019.
Major multinational companies have also shown immense interest in filing blockchain patents in China. The latest Global Times report suggests that 35 multinationals including Microsoft (NASDAQ:MSFT), Walmart (NYSE:WMT), Mastercard (NYSE:MA), Sony and Intel (NASDAQ:INTC), had applied for a total of 212 blockchain patents by the end of March 2020.