So, according to Walmart they have patented a “Smart Package” system that has been released by the US Patent and Trademark Office (USPTO). This is huge news considering how big Walmart is and marring blockchain technology to their shipping method. I'm excited to hear news like this from big retail, and keep in mind they also worked closely with IBM in the past to help them. I'm clipping some things from the article I found on this news...Enjoy the Knowledge!
.gif)
Clippings from Cointelegraph's article about the Smart Package System...
Walmart’s “Smart Package” patent employs a Blockchain-based tool to track package contents, environmental conditions, location, and other details. The device described in the application is intended to be used in new technologies like autonomous vehicles and unmanned drones.
According to the application, Blockchain will record the "key addresses along the chain” such as “seller private key address, a courier private key address, and a buyer private key address."
In the patent application, Walmart noted the need to design a tool providing “greater security in the shipping packaging that the items are shipped in.” The application says that the existing tracking instruments do not yet provide “such desired functionality”. Walmart first filed its “Smart Package” application in August, 2017, reports Fintech Finance.
“Smart Package” is not the first instance of Walmart utilizing Blockchain technology. In November, 2016, Walmart partnered with IBM to use Blockchain to detect and remove recalled foods from its products list.
Blockchain technology has been popular with shipping and delivery companies. The US shipping company UPS joined the Blockchain in Trucking Alliance (BiTA) in November, 2017. Singaporean port operator PSA International struck a deal with IBM to test and develop a Blockchain-based supply chain network in August, 2017, according to Fintech Finance.
We'll see how things work out with this so called "Smart Package" system seems super promising. I'll keep you posted as we hear more about this in the coming months.
Source
LINKS to our Coin Boys Podcast
SoundCloud
iTunes
Follow me here @producerbtw
Addressing tracking problems on blockchain where data can't be altered is a great idea. Many more ecommerce giants expected to follow.
It's really good to see huge franchies like Walmart welcoming blockchain and its related sources for their business.