The past few years have seen a tremendous rise in both the popularity of blockchain as a concept as well as the development of blockchain technology. Before 2014 conversation around blockchain was scarce, aside from how it related to cryptocurrency. In fact, over a one-year period (Dec. 2016 – Dec. 2017) Google data shows that the term “blockchain” increased in search popularity by nearly 10X.
The rise of new applications for blockchain technology have also followed a upward trend and, as a result, the number of blockchain patents has increased significantly as well. According to Fortune, the overall number of granted patents and applications is expected to reach 1,245 in 2018, up from 313 just two years ago. With so much focus on this industry, the blockchain intellectual property landscape is likely to become a battleground, with many organizations vying to create similar technology.