According to Fintech Finance, on March 1, 2018, the US Patent and Trademark Office (USPTO) released a patent by the retail giant Walmart that shows the company is working on a blockchain-based delivery system.
The patent is known as “smart package”. It shows that Walmart will use the blockchain-based system to track addresses, environmental conditions, package content and other information. The “smart package” patent application was filed in August 2017. In the United States, it generally takes 18-months for the patent to become effective after the publication of a patent application.
The device in the application is intended for self-driving cars and self-navigating drones. Walmart has expressed that the potential patent will provide better security for delivery systems.
The transportation and logistics industry has both shown great interest in blockchain technology. So Walmart’s foray into the blockchain-based delivery system should not come as a surprise to anyone.
IBM has been using blockchains for supply chain management. Last year, TechCrunch reported that the US shipping company UPS is going to support the Blockchain in Transportation Alliance (BiTA), a group dedicated to creating blockchain standards for the freight industry.
Read more on “Cointelegraph”