Walmart Wants To Disrupt The Logistics And Supply Chain Sector
If you think that the use of blockchain technology is limited to digital currencies you’d be wrong. In a previous post I wrote that the Bank of England governor, Mark Carney sees the potential of blockchain.
Now, the shopping giant, Walmart has filed a patent with the US Patent and Trademark Office. The patent tells us that Walmart wants to use blockchain technology.
The firm wants to create a ‘smart package’ delivery and tracking system. If the patent is successful, it could revolutionize the logistics sector and the supply chain that supports it.
Within the package is a device which records information on a blockchain. This device would include the contents of the package contents, the environmental conditions as well as location. Potentially, emerging technologies such as autonomous vehicles can be paired with this device.
Blockchain Technology is Coming to Drone Delivery
The original filing was in August 2017. March 2018 saw an update to this and follows another patent application. This second application is for a blockchain based drone package delivery tracking system.
The application are in response to the growth in online shopping. Walmart has said this growth has created new challenges. A retailer who sells perishable goods will be particularly impacted. Such products might be highly sensitive to temperature changes and delivering to the consumers in a good condition is crucial. Consequently, technology is needed to manage the delivery protocol and process.
Walmart’s patent application is for a device which has the blockchain encrypted into it. It will contain the key address of each ‘custodian’ of the package during delivery. Consequently, the patent offers full traceability beyond just GPS tracking.
Want to learn more about cryptocurrencies? Sign up for the Smart Bitcoin Buyer’s free course. Beginners to the Bitcoin market will benefit from taking the course. It is delivered by email over several parts so your knowledge can develop slowly and in your own time. Sign up here to join the course.