According to a recent report, it seems that the number of blockchain developers in China is still too low compared to other countries, revealing the shortage of talents in the industry, compared to the number of blockchain patents granted.
Despite President Xi Jinping’s statement where he wants China to become the leading country in blockchain technology, the figures reported do not reflect the preparation of its inhabitants.
Specifically, we have 5,290 blockchain developers in the country in 2019, compared to 3,780 in 2018. Definitely a figure that states a growing interest in technology but still relatively low compared to India in particular.
In this regard, the report describes the immature situation in China as follows:
“A majority (56.7%) of developers in China have only 0-3 years of work experience. This suggests that China’s developer community is less experienced than international peers (42% have 3-10 years of experience). They are also heavily focused on fields such as web development, computer vision, neuro-learning protocols and voice recognition.”
Not only that, the presence of blockchain talents in China does not reflect the amount of blockchain patents granted to the country’s innovative start-ups.
In fact, it seems that in recent years, the Chinese blockchain patent race has exceeded three times the applications presented in the U.S.. In general, there are more blockchain patents filed in China than anywhere else in the world: Chinese companies account for 68% of total global blockchain patent applications.
In a ranking referred to the first half of 2019 regarding blockchain inventions, among the eleven countries that represented the top 100 companies globally, China is number one with 67% of patent applications.
Only Alibaba Group, China’s e-commerce giant, is at the top of the list with 322 patents, while the second is another Chinese company PingAn with 274 patents and the third Nchain with 241 patents.
Patent numbers suggest that the new potential leader in the blockchain is certainly China compared to its US rivals.
In fact, these are two different approaches of the two countries.
Recently, Anthony Pompliano, founder of Morgan Creek, pointed out that if on one hand China is encouraging the country to develop in the blockchain field, on the other hand the initial American institutional action of wanting to ignore this disruptive technology in its embryonic stages, has turned into a progressive limitation to its application on the territory.