Evaluating blockchain technology and related policies in China and the USA

Abstract

Abstract Blockchain has been regarded as an emerging global technological phenomenon. This study uses the patent analysis method to compare the development of blockchain technology in China and the USA. An overview of blockchain policies in China and the USA is presented. Our analyses suggest that policies related to the blockchain stimulate the number of blockchain patent applications and create regional innovation in China. The innovation capability of Chinese enterprises has been more affected by these policies than that of the USA, which is reflected in the fact that Chinese enterprises have become key players in China and actively carry out patent layout in the USA. Although the developmental trend of blockchain technology in China and the USA is almost identical, the USA attaches more importance to safety technology, whereas China pays more attention to the application technology based on the differences in policies.