State of Research in Blockchain in just 13 slides
“What the internet did for communications, blockchain will do for trusted transactions.”
– Ginni Rometty, CEO of IBM
30 years ago, when the internet came into public attention, nobody would have thought that it will become the backbone of modern day communications. Built only for defense and research firms, the Internet quickly changed the way information was traveling and getting stored around the world.
Now we are again at a similar point where the future of financial transactions and public record keeping is going to change. The innovation fueling this change is Blockchain technology.
What is Blockchain Technology?
The blockchain is a way to keep records of transactions, blocks of data, and other records cryptographically in a way that anyone can access but can’t change. In its simplest form, Blockchain technology is a public ledger keeping records of data/transactions distributed over a network instead of a single place, making it impossible for a single entity to modify those records.
In case if you are not familiar, Blockchain is the technology powering all cryptocurrencies like Bitcoin, Ethereum, Ripple, etc. All the transaction records are kept on a cryptographically secure ledger, copies of which are kept on millions of computers (nodes). This decentralized nature of Blockchain is what makes cryptocurrencies secure as it makes it impossible for a hacker to modify that data while still keeping it accessible to everybody.
Applications of Blockchain Technology
Now, apart from fueling cryptocurrencies, which is already reaching a $170 billion market cap, applications of Blockchain are only bound to our imaginations. From shipment to Insurance records, from property ownership data to production industry, almost every industry can benefit from Blockchain.
Other than all of this, Blockchain could really aid to distributed cloud storage, giving users a secure way to store their data online without relying on any “trusted third party”. Just like I mentioned above, applications of blockchain technology are only bound to our imaginations.
Who’s innovating in Blockchain Technology?
Such widespread applications of Blockchain Technology have resulted in a steep rise in startups and companies utilizing Blockchain in their business. According to a report published by CBinsights, in past 3 years, more than 130 Blockchain startups have used ICOs to raise money.
Apart from the growing interest of organizations in Blockchain, the research trend is also not left behind. IBM, being the most active patent filer across the globe is now pointing their research efforts towards Blockchain.
Similarly, financial firms and banks all across the globe are actively researching on Blockchain tech to stay ahead of their peers. This rise in research is what pulled our interest towards Blockchain Technology and we thought to do a patent landscape on blockchain technology.
The analysis revealed a ton of interesting insights like:
- Which companies are leading the Bitcoin research?
- Startups that are making their way up in Blockchain technology?
Here’s a sneak peak of the presentation:
The presentation above has half of the insights from our analysis. If you want full analysis to consider filling the form below:
Below is the list of additional insights you will get by downloading the presentation.
Research Status of Blockchain
- The technological evolution of Blockchain – what does research trend look like?
- Top countries from where the research is originating.
- Which companies hold a maximum number of patents in Blockchain technology?
- Top universities taking part in the research in Blockchain Technology
- Companies having maximum number of patent based on geographies
Challenges and Solutions of Blockchain
- Major challenges that Blockchain technology may face
- Major companies/banks working on solutions to these problems?
- What solutions are they proposing to tackle these challenges?
Funding & Investment Activity in Blockchain
- Major funding entities in Blockchain
- Major funding events and projects
The full report will also help you explore the countries having a high potential for future markets of Blockchain Technology. This could help startups as well as existing companies in business expansion. You can get the full report along with all the above-listed insights from the form below:
Contributors – Priya Vashishth, Sushant Kumar and Shikhar Sahni