China is #1 in the World in Filing this Patent
The Chinese government has been draconian in its control over its 1.3 billion residents.
From its ‘Orwellian’ facial recognition system, to the Social Credit System rolling out in 2020, to its strict capital controls, China has poured billions into technological infrastructure and surveillance equipment and systems.
And in case you missed it, I wrote about the root cause of the ‘New Cold War’ brewing in the South China Sea.
Editor’s Note: In our July issue of Asia Insider Report, our premier monthly publication where we spotlight our favorite stocks, we introduced our Asia 360° to a Chinese company that is perfectly positioned to profit from China's growing 'Big Brother' industry.
Get the Asia Insider Report every month by joining Asia 360°.
Despite these encroachments, and despite Bitcoin’s price drops… crypto and blockchain tech in general are growing extremely quickly in China.
They are absolutely leading the world in blockchain-related patents — China filed 225 patents last year, followed by the U.S. with just 91. Contrast that with 2016, when China only filed 59.
The reason? Besides the booming market for blockchain-related software, I believe this is long-term positioning and optimism.
Companies don’t file patents to build fly-by-night products. They need the legal protection because they want to build something long-term, generally speaking, as well as attract investors.
I’ll explain why I believe the Chinese are so bullish on crypto, but for now I think it’s safe to say Chinese companies are attempting to dominate the crypto and blockchain market in the future.