According to GlobalData’s Technology Foresights, which uses over 1.5 million patents to analyze innovation intensity for the technology industry, there are 190+ innovation areas that will shape the future of the industry.

Multiparty computation blockchains is a key innovation area in blockchain

Multiparty computation blockchains utilize blockchain technology for secure collaborative computing, where multiple parties work together to compute a specific function while safeguarding their individual inputs. This integration amalgamates the strengths of blockchain, including security, transparency, and immutability, with the capabilities of multiparty computation.

GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 490+ companies, spanning technology vendors, established technology companies, and up-and-coming start-ups engaged in the development and application of multiparty computation blockchains.

Key players in multiparty computation blockchains – a disruptive innovation in the technology industry

‘Application diversity’ measures the number of applications identified for each patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.  

‘Geographic reach’ refers to the number of countries each patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’. 

Patent volumes related to multiparty computation blockchains

Company	Total patents (2010 - 2022)	Premium intelligence on the world's largest companies
State Farm Mutual Automobile Insurance	63	Unlock Company Profile
Royal Bank of Canada	39	Unlock Company Profile
Microsoft	148	Unlock Company Profile
Siemens	67	Unlock Company Profile
Alibaba Group	1252	Unlock Company Profile
Salesforce	43	Unlock Company Profile
SAP	40	Unlock Company Profile
Akamai Technologies	40	Unlock Company Profile
Overstock.com	74	Unlock Company Profile
Bank of America	133	Unlock Company Profile
Koninklijke Philips	39	Unlock Company Profile
The Toronto-Dominion Bank	72	Unlock Company Profile
Panasonic	45	Unlock Company Profile
Telefonaktiebolaget LM Ericsson	36	Unlock Company Profile
Sony Group	122	Unlock Company Profile
Advanced New Technologies	654	Unlock Company Profile
Nippon Telegraph and Telephone	526	Unlock Company Profile
IBM	313	Unlock Company Profile
Walmart	58	Unlock Company Profile
NEC	185	Unlock Company Profile
Intel	96	Unlock Company Profile
Coinplug	78	Unlock Company Profile
nChain	1638	Unlock Company Profile
Securrency	41	Unlock Company Profile
Algorand	50	Unlock Company Profile
Anchor Labs	80	Unlock Company Profile
TripleBlind	52	Unlock Company Profile
Inveniam Capital Partners	61	Unlock Company Profile
R3	39	Unlock Company Profile

Source: GlobalData Patent Analytics

Among the companies innovating in multiparty computation blockchains, nChain is one of the leading patents filers. The company’s patents are aimed at describing a method for transferring access to a digital asset that involves each of several second participants receiving a first blockchain transaction from a first participant. The first participant possesses the initial private key of a first private-public key pair in a cryptography system, while each participant holds their respective share of a second private key in a second private-public key pair within the same system. This first blockchain transaction bears the signature of the first private key. Subsequently, each second participant verifies the signature. They then apply their respective first share to the first blockchain transaction, resulting in a corresponding second share for a second blockchain transaction, which is signed with the second private key. For a signature to be possible, a first threshold number of second shares is required, rendering it inaccessible with fewer than this threshold number. The signature is generated by combining the first threshold number of second shares from the first participant and a majority of the second participants. Other prominent patent filers in the space include Alibaba and Nippon Telegraph and Telephone.

In terms of application diversity, Toronto-Dominion Bank leads the pack, while TripleBlind and R3 stood in second and third positions, respectively. By means of geographic reach, nChain held the top position, followed by Alibaba and TripleBlind.

Multiparty computation blockchains enable multiple parties to collaboratively compute functions while keeping their inputs confidential. This innovation addresses critical concerns regarding data privacy, particularly in industries dealing with sensitive information. By combining the strengths of blockchain technology, including security and transparency, with multiparty computation, these blockchains establish a powerful framework for secure collaborative computations. This technology has the potential to revolutionize how sensitive information is handled, offering a trustworthy and decentralized solution in an increasingly digitalized world.

To further understand the key themes and technologies disrupting the technology industry, access GlobalData’s latest thematic research report on Blockchain.

Premium Insights

From

The gold standard of business intelligence.

Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.