A Zhuhai company that develops financial and management software products for the electricity industry is rated 46th among the top 100 global enterprises filing applications for blockchain patents in the first half of 2020, an increase of 28 rungs from late 2019.

YGSOFT, founded in 1999, is on the list recently released by Beijing-based intellectual property industry's IPRdaily and domestic patent IncoPat Innovation Index Research Center. The 100 most active patent filers are mostly from 14 countries, regions, and organizations, of which 46 percent are from China and 25 percent from the US.

Headquartered in the Technological Innovation Coast of the Zhuhai National Hi-Tech Industrial Development Zone (Tangjiawan), YGSOFT is frontrunner in blockchain technology. The company has dedicated labs and business divisions to advance blockchain R&D and its application in enterprise management, smart energy and Internet of Things, and digital society.

Zhuhai YGSOFT [Photo courtesy ygsoft.info]

The enterprise applied for 20 blockchain patents from January to June, bringing the total to more than 80. The patents cover innovative blockchain solutions in commodity traceability, supply-chain finance, electronic certificates, contracts and diplomas, and intelligent management of files. They also include key blockchain technologies in multi-round consensus, data storage, endorsement strategy optimization, multilevel encryption, and sharded storage.

In addition to technological research, YGSOFT is productive in blockchain application. Four products related to blockchain enterprise application service and supply chain finance platforms, commodity traceability, and distributed energy trading have been filed with the Cyberspace Administration of China.

Moreover, the enterprise applied blockchain technology in a large number of projects through extensive cooperation with State Grid Shanghai Electric Power, Hunan Electric Power, and Shandong Electric Power corporations.

A core infrastructure of the digital economy, blockchain has been widely applied in financial science and technology, supply chain management, and digital asset trade. It is within the scope of New Infrastructure by the National Development & Reform Commission as of April 20 and shows considerable development potential.