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Walmart Is Wishing To Make Shipping ‘Smarter’ Through Blockchain Technology

Mar 05, 2018 Posted /  2854 Views

Walmart Is Wishing To Make Shipping ‘Smarter’ Through Blockchain Technology

The US Patent and Trademark Office (USPTO) released the application of Walmart to patent its “Smart Package” system on 1st March. The package will use Blockchain technology to keep a track on contents of a package, environmental conditions, location, and other specifications. As per the application, the device will be compatible with recent technologies such as autonomous vehicles and unmanned drones.

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The patent was first applied for in August 2017. Walmart also submitted a drone package based on Blockchain technology for tracking delivery system. In the filing, the Walmart has explained the challenges faced by retailers while delivering online purchased products. The trouble enhances regarding perishable goods as the products require temperature control.

"These online customers many times seek to purchase items that may require a controlled environment and further seek to have greater security in the shipping packaging that the items are shipped in." – Walmart

The Walmart is aiming to utilize blockchain technology to record "key addresses along the chain” such as “seller private key address, a courier private key address, and a buyer private key address."

“Smart Package” is not the first government initiative in the field of Blockchain Technology. In 2016, Walmart partnered with IBM with a motive to detect and eliminate recalled food items from its product list.     

As per United States law, an organization requires applying prior to 18  months of its effective priority date for publication of the non-provisional patent application. USPTO can also use the patent application to reject the request of the third party for correlative technology.

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Tags: blockchain technology Shipping Walmart fintech

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