1. Analysis
September 20, 2022

Blockchain innovation among retail industry companies has dropped off in the last three months

Analysis of patent filings shows a shrinking level of blockchain related applications in the industry over the past three months, compared to last year

By Data Journalism Team

Research and innovation in blockchain in the retail sector has declined in the last year.

The most recent figures show that the number of blockchain related patent applications in the industry stood at 2 in the three months ending July – down from 36 over the same period in 2021.

Figures for patent grants related to blockchain followed a similar pattern to filings – shrinking from 89 in the three months ending July 2021 to 16 in the same period in 2022.

The figures are compiled by GlobalData, who track patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas, and linked to key companies across various industries.

Blockchain is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from.

The figures also provide an insight into the largest innovators in the sector.

EBay Inc was the top blockchain innovator in the retail sector in the latest quarter. The company, which has its headquarters in the United States, filed 1 blockchain related patents in the three months ending July. That was down from 5 over the same period in 2021.

It was followed by the China based JD.com Inc with 1 blockchain patent application.