Walmart
Investing

Walmart Works with Blockchain Technology to Control Shipping

One of the most important retail corporations in the world, has filled a patent that seeks to utilize blockchain technology in order to create a smart package delivery system. The information was released by the U.S. Patent and Trademark Office (USPTO) the last Thursday.

Walmart Works with Blockchain Technology

The application released informs what a smart package is, how it works and what it includes. It may use a device that would record the information on the blockchain about how the package is built, what it has inside, the environmental conditions, the location and more. Walmart

Furthermore, the patent explains that the package may be used with “autonomous vehicles,” including drones. According to Walmart, online shipping has created shipping challenges for retailers, but more specifically with products that need temperature control or other requirements.

The application submitted by Walmart reads as follows:

“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.”

The patent was submitted in August 2017 and is in line with a patent related to blockchain-based drone package delivery presented.

IBM and Maersk Blockchain Solutions

Several enterprises are starting to use blockchain technology in order to improve the shipping industry. For example, we can mention IBM working with Maersk. These companies are working together in order to make more efficient the international shipping industry.

The main intention of using blockchain to track products and other goods is to reduce bureaucracy in the different countries involved, reduce times and have a higher control over the goods transported.

Walmart is one company more that is working with blockchain technology as many others in the retail industry, as Kroger, Nestle or JD.com.