Only in 2017 in China appeared almost 40% of the total number of all currently existing blockchain start-ups. Such data is contained in a new document published by the Ministry of Industry and Information Technology of China, CoinDesk reports.
The results of the study were presented on Monday, May 21, as part of an extensive report on the state of the blockchain industry in China. It is noted that at the moment there are 456 start-ups in China, for which the development of blockchain technologies and applications is part of their core business.
At the same time, if in 2016 the number of blockchain companies tripled in comparison with the previous year, in 2017 there was an "exponential growth" - in total, the industry replenished with 178 new start-ups.
A similar trend was observed in the field of equity financing of blockchain start-ups. At the moment, there are 249 initiatives directly aimed at blockchain start-ups, and almost 100 of them were launched in 2017 - more than was registered between 2014 and 2016. It is noteworthy that only in the first quarter of this year 68 initiatives in the field of financing blockchain start-ups were registered.
The document also says that the current law on patents, which was drawn up ten years ago, may be outdated when it comes to protecting intellectual property in the field of block chain technologies.
In particular, the current law protects only those scenarios for the application of technology that are directly described in patent applications, and therefore, most likely, needs to be modified.