Tokenizing Innovation: A Blockchain‐Based Innovation System as a Step Toward Achieving Sustainable Development

Abstract

This study examines patenting patterns to identify inefficiencies in innovation systems and proposes a blockchain‐based solution to advance sustainable development goals (SDGs) 4, 8, 9, and 17. Using a dataset of 13,910 patent documents, the research employs a multi‐step methodology: a patent landscape analysis, network analysis, and structural equation modeling (SEM). Our findings indicate that patents linked to non‐competitive technologies and low originality scores are more likely to become inactive. Furthermore, the study identifies several factors contributing to the low efficiency of the innovation system, including closed technology transfer processes and weak collaborative synergies among stakeholders. To address these challenges, a blockchain‐based rewards system is proposed to foster beneficial relationships among innovation stakeholders, supporting sustainable innovation practices. This study enhances our understanding of innovation theory and provides insights for policymakers, linking the proposed solution to achieving SDGs 4, 8, 9, and 17 through sustainable innovation.