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February 16, 2022updated 21 Feb 2022 6:54am

Internet of things innovation among private banking industry companies rebounded in the last quarter

By Michael Goodier

Research and innovation in internet of things in the private banking sector has rebounded in the last quarter.

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Internet’s Next Revolution: Can Web 3.0 Unlock Decentralized and Intelligent Internet?

Big tech companies have created massive ecosystems that offer the internet’s key services, making it impossible for users to break from their “walled garden” and ultimately surrender control of their data. A sharp rise in public awareness about data privacy and the value of their data has stimulated new awareness around web 3.0 networks. Web 3.0 is the third iteration of the internet, designed by token-based economics to wrest the control of user data from big tech companies and provide a user-centric internet. It creates a mesh of peer-to-peer communication and decentralized governance structures to enable individuals and organizations to tackle data privacy and censorship threats. Reasons to read: An increasing number of startups and tech players are shifting gears to create blockchain-powered decentralized ecosystems for different sector-specific applications and services. Against this backdrop, businesses need more awareness of the fast-paced fundamental restructuring of the internet. The report highlights the current state of play and the future potential of web 3.0 networks in driving decentralized and user-controlled internet. This is anticipated to unlock new possibilities for enterprises across sectors such as financial services, gaming, sports, media & entertainment, retail, and technology, among others. Read our report and gather insights on the following topics:
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by GlobalData
Enter your details here to receive your free Whitepaper.

The most recent figures show that the number of IoT patent applications in the industry stood at 18 in the three months ending December – down from 37 over the same period in 2020.

Figures for patent grants related to IoT followed a similar pattern to filings – shrinking from 20 in the three months ending December 2020 to 17 in 2021.

The figures are compiled by GlobalData, who track patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas, and linked to key companies across various industries.

IoT is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from.

The figures also provide an insight into the largest innovators in the sector.

Bank of America Corp was the top IoT innovator in the private banking sector in the last quarter. The company, which has its headquarters in the United States, filed 27 IoT related patents in the three months ending December. That was down from 39 over the same period in 2020.

It was followed by the Canada based The Toronto-Dominion Bank with nine IoT patent applications, the United States based Wells Fargo & Co (3 applications), and Canada based Royal Bank of Canada (3 applications).

Free Whitepaper
img

Internet’s Next Revolution: Can Web 3.0 Unlock Decentralized and Intelligent Internet?

Big tech companies have created massive ecosystems that offer the internet’s key services, making it impossible for users to break from their “walled garden” and ultimately surrender control of their data. A sharp rise in public awareness about data privacy and the value of their data has stimulated new awareness around web 3.0 networks. Web 3.0 is the third iteration of the internet, designed by token-based economics to wrest the control of user data from big tech companies and provide a user-centric internet. It creates a mesh of peer-to-peer communication and decentralized governance structures to enable individuals and organizations to tackle data privacy and censorship threats. Reasons to read: An increasing number of startups and tech players are shifting gears to create blockchain-powered decentralized ecosystems for different sector-specific applications and services. Against this backdrop, businesses need more awareness of the fast-paced fundamental restructuring of the internet. The report highlights the current state of play and the future potential of web 3.0 networks in driving decentralized and user-controlled internet. This is anticipated to unlock new possibilities for enterprises across sectors such as financial services, gaming, sports, media & entertainment, retail, and technology, among others. Read our report and gather insights on the following topics:
  • Evolution of the internet
  • Active players in the web 3.0 ecosystem
  • Key applications by major sectors
  • Driver and challenges
  • Top startups and Mergers & Acquisitions
  • Regulatory landscape & future scope
by GlobalData
Enter your details here to receive your free Whitepaper.

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