Technology
The Unparalleled Explosion in Cryptocurrencies
The Unparalleled Explosion in Cryptocurrencies
Over 300 new coins reached $1mm market cap in 2017
The Chart of the Week is a weekly Visual Capitalist feature on Fridays.
After the massive Bitcoin price surge in November 2013, the popularity of launching new cryptocurrencies took off along with it.
In fact, if you go back at historical snapshots around that time, you’ll see that there were literally hundreds of new coins available to mine and buy. Here’s one from November 2014 – a time when there were only 32 coins that were worth more than $1 million in market cap, and 354 coins that were worth less than $50,000, usually trading for tiny fractions of a cent.
It seems like everyone and their dog were launching cryptocurrencies back then, even if they were a longshot to materialize into anything.
Then vs. Now
Fast forward to today, and things haven’t changed much – many people and companies are still launching new cryptocurrencies through a mechanism known as an ICO (Initial Coin Offering).
The only difference?
Today, there is real money at play, and in 12 months the number of cryptocurrencies worth >$1 million has soared by 468%. Meanwhile, the total value of all currencies together has skyrocketed by 1,466%.
Cryptocurrency is so hot, in fact, that raising money through ICOs has become more effective than traditional early-stage angel and VC funding.
For the long-time advocates of Bitcoin and other cryptocurrencies, it is now their moment in the sun.
And with this ICO activity and a wealth of opportunities emerging, a new breed of Bitcoin millionaire has been born. Like the wealthy tech founders that exit and give back to their local startup ecosystems, these new digital tycoons are using their newfound wealth to invest in upstart crypto projects that show potential – ultimately, further enhancing the ecosystem.
Out of the Woodwork
Of course, whenever there is a massive surge in prices and speculation, there are two other players that tend to come out of the woodwork.
One is of the scammer and shyster variety, and certainly crypto-fueled scams are a concern for everyone else in the broader ecosystem.
Perhaps even a bigger threat, however, are the regulators – and in recent weeks the SEC has voiced concerns about ICO “pump and dump” schemes, while Canadian authorities have clearly stated that “most ICOs need oversight”.
With the market exploding with hundreds of new cryptocurrencies and the total value reaching $177 billion, a new series of questions has emerged: what risk do ICO scams ultimately have on market? And, could misguided regulation disrupt the momentum of the crypto boom?
Technology
Visualizing AI Patents by Country
See which countries have been granted the most AI patents each year, from 2012 to 2022.
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.
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