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WeBank Ranks Third For Global Blockchain Patent Filings For 2019

WeBank, ranks third place for the number of Blockchain patents filed globally in 2019. Alibaba and Tencent took the first and second places respectively. WeBank is China’s first digital bank initiated by Tencent.

On April 24. a report was published stating that the bank rose from fifth place to third after filing nearly 632 patents in 2019. 80% of them were related to technologies such as blockchain, AI, cloud computing, and big data.

WeBank’s patents have focused on open source consortium chain infrastructure (48%), middleware (40%), and other solutions (12%) related to algorithms, privacy protection, and cross-chain tech.

According to the report, the patents filed by WeBank shows that the banking industry is increasing its fintech capabilities

Recently, WeBank extended FISCO BCOS capabilities with DAML Smart Contracts:

WeBank is glad to explore more possibilities of @FiscoBcos with @digitalassetcom! With the integration of DAML, developers of FISCO BCOS can make use of more smart contract resources. Know more about blockchain solutions across finance, supply chain, etc.👉 — WeBank (@WeBankCN) April 16, 2020

It will explore the integration of DAML, the open-source smart contract language created by Digital Asset, with the blockchain platform, FISCO BCOS. The integration provides additional smart contract resources for the developers of FISCO BCOS.


Source: Cointelegraph | Image: Unsplash

#technology #WeBank #Tencent #banks #fintech

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