Walmart Wants to Use Blockchain for Shipping Products Simpler

Walmart Wants to Use Blockchain for Shipping Products Simpler

Blockchain keeps winning the hearts of giant retail, transportation and a plethora of other corporations. At the beginning of this year, January technological titan IBM, as well as Danish shipping heavyweight Maersk, expressed their desire to launch a blockchain firm which would boost the shipping. The primary idea of this project was to make a tracing of products simpler.

Now, the Amercian multinational retail corporation Walmart is stepping on the path of blockchain approval. According to recent patent filings, Walmart is eager to establish a blockchain-based system to maximize the shipping.

Walmart Adopting the Top Technology

The enormous retailer Walmart has intentions to use DLT, particularly, the blockchain, to develop a smarter package shipping tracing system.

On March 1, on the U.S. Patent and Trademark Office website, there was published a Walmart application, which mentions a “smart package.” This package would comprise a tool which would register data in the blockchain. Apparently, this data would be related to the contents of the package, its whereabouts as well as conditions.

However, that’s not all. In the patent filing, it is also indicated that the package would be utilized on par with other new tech trends, for example, drones.

It is necessary to mention that initially the filing was submitted before last year September. Also, this patent depends on another Walmart filing, connected with the drone package distribution system, based on the blockchain, which was also submitted in 2017.

Why is Blockchain Important for Walmart?

In the document, it is also explained that e-commerce has made circumstances for retailers very tough, especially, when it comes to the shipping of perishable products. Such items are always in need of temperature regulation, in particular. Therefore, as Walmart explained in the patent application, these difficulties drive retailers to resort to technological advancements. So here comes the blockchain.

By the way, Walmart also wrote in the filing that the blockchain constituent will be encrypted into the tool. Additionally, this device will have:

  • key addresses
  • private key addresses
  • a carrier private key address
  • a purchaser private key address

Apart from its shipping drone plans, Walmart aspires to utilize DLT to other spheres of the biz.

Who Else Endorses Blockchain?

As it was already mentioned, besides Walmart, their interest in blockchain has expressed IBM as well as Maersk. Nevertheless, this is not the end of the list. Also, blockchain is expected to optimize the ways products are tracked for Nestle, Kroger and some other food production companies.