RETAIL GIANT- WALMART SEEKS TO USE BLOCKCHAIN “smart package” FOR SWIFT SHIPPING.

RETAIL GIANT- WALMART SEEKS TO USE BLOCKCHAIN “smart package” FOR SWIFT SHIPPING.

The U.S. Patent and Trademark Office (USPTO) released an application by Walmart describing a “smart package” for its shipping that would include a device which would record information on a blockchain regarding the location of the parcel and the environmental state. This smart package could also be harnessed with other emerging technologies.
The patent was first submitted in August of 2017, and notably builds on a filing Walmart submitted for a blockchain-based drone package delivery tracking system same time last year.
In the filing, Walmart explained that retailers were constantly facing challenges especially with perishable goods requiring environmental status as they’re being shipped hence the need for this new technology.
The application by Wallmart states:
“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 technology will allow private encrypted keys for the retailers, suppliers and every other person in the distribution chain. Walmart is also seeking ways to implement the blockchain technology in other areas of its business.

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