Technology

How Bitcoin Can and Will Disrupt the Financial System

Published

10 years ago

July 9, 2014

Jeff Desjardins

Bitcoin Can and Will Disrupt the Financial System

How Bitcoin Can and Will Disrupt the Financial System

Sponsored by: Newnote Financial (CSE: NEU)

The mainstream adoption of bitcoin has started to snowball and many financial institutions have taken note. In fact, the influence of bitcoin is so strong that a senior Central Bank of Ireland official has gone on record to state that, “virtual and digital currencies can challenge the sovereignty of states.” Equally as impressive, last month Google and Yahoo added the price of Bitcoin to their finance networks.

That said, what we have seen thus far is likely just the tip of the iceberg. Many VCs, including Marc Andreessen, believe the future of the blockchain and cryptocurrency to be extremely bright. Bitcoin and altcoins are empowering users by eliminating, or minimizing, many financial intermediaries. This has the potential to be a massive disruption and opportunity.

Bitcoin is P2P, decentralized, and open source. Hundreds of startups and entrepreneurs are finding new ways to build upon Bitcoin and blockchain technology to create financial service possibilities ranging from escrow to bitcoin based loans. This tech is even being applied to voting, music distribution, and DNS services.

Worldwide, bitcoin is now accepted by over 100,000 merchants with transactions averaging the equivalent of $78 million per day. While that is only a fraction of credit card transaction volume, some would say that is why it still such a great opportunity for speculation.

Newnote (CSE: NEU) is a diversified Crypto Currency financial services provider, offering a range of services that involve digital currency payment solutions, including Bitcoin.

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Technology

Visualizing AI Patents by Country

See which countries have been granted the most AI patents each year, from 2012 to 2022.

Published

21 hours ago

April 24, 2024

Marcus Lu

Visualizing AI Patents by Country

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

This infographic shows the number of AI-related patents granted each year from 2010 to 2022 (latest data available). These figures come from the Center for Security and Emerging Technology (CSET), accessed via Stanford University’s 2024 AI Index Report.

From this data, we can see that China first overtook the U.S. in 2013. Since then, the country has seen enormous growth in the number of AI patents granted each year.

Year	China	EU and UK	U.S.	RoW	Global Total
2010	307	137	984	571	1,999
2011	516	129	980	581	2,206
2012	926	112	950	660	2,648
2013	1,035	91	970	627	2,723
2014	1,278	97	1,078	667	3,120
2015	1,721	110	1,135	539	3,505
2016	1,621	128	1,298	714	3,761
2017	2,428	144	1,489	1,075	5,136
2018	4,741	155	1,674	1,574	8,144
2019	9,530	322	3,211	2,720	15,783
2020	13,071	406	5,441	4,455	23,373
2021	21,907	623	8,219	7,519	38,268
2022	35,315	1,173	12,077	13,699	62,264

In 2022, China was granted more patents than every other country combined.

While this suggests that the country is very active in researching the field of artificial intelligence, it doesn’t necessarily mean that China is the farthest in terms of capability.

Key Facts About AI Patents

According to CSET, AI patents relate to mathematical relationships and algorithms, which are considered abstract ideas under patent law. They can also have different meaning, depending on where they are filed.

In the U.S., AI patenting is concentrated amongst large companies including IBM, Microsoft, and Google. On the other hand, AI patenting in China is more distributed across government organizations, universities, and tech firms (e.g. Tencent).

In terms of focus area, China’s patents are typically related to computer vision, a field of AI that enables computers and systems to interpret visual data and inputs. Meanwhile America’s efforts are more evenly distributed across research fields.

Learn More About AI From Visual Capitalist

If you want to see more data visualizations on artificial intelligence, check out this graphic that shows which job departments will be impacted by AI the most.