Blockchain technology-related patent applications surged in South Korea last year, and appear to be rising further this year in wake of the coronavirus pandemic.
Per the Korean Intellectual Property Office (KIPO), a total of 1,301 blockchain patents were registered in the country last year, a rise of 50 times on the paltry 24 registered in 2015.
Media outlet Joongang Ilbo added that industry players believe blockchain provides “excellent” levels of security – and says that industries across the board in the country are “increasing” their adoption, “particularly due to the COVID-19 crisis.”
Blockchain business consultant Lee Jong-cheol told Our that the government has been actively pushing untact technology of late.
Untact is a portmanteau term that is being used in South Korea to describe industry 4.0 advances that help do away with unnecessary face-to-face contact.