Guest Author – Samson
Walmart plans on using blockchain to facilitate shipping through tracking packages on transit. Walmart patent application filed on August 2017 will allow them to deploy the smart package to aid in tracking of the goods in transit and get vital data like food temperature, standards of the goods and the delivery time and dates.
The smart package is expected to provide the environmental update as well updating blockchain of the content on transit periodically. They will partner with other food retail giant like IBM to carry an in-depth analysis on better ways of integrating blockchain in the food supply. The overall goal will enable tracing the path of commodities from the manufacturer to consumer level. According to Walmart application, the smart technology could also be applied to the self-driving vehicles and in drones when published.
Walmart will aim to ship perishable goods smarter. According to Walmart, shipping perishable goods possesses a huge challenge and there is need to revamp the shipping system to avoid wastage. Walmart still reports the use of smart technology will ensure consumer receive perishable goods in good condition through the shipping of the same in controlled conditions. This will ensure Walmart foodstuffs like bananas, chocolate and chicken are easily traced through the recording of digital records on blockchain system expected to record key addresses on the chain with information as a seller, buyer and carrier key addresses being recorded
The use of blockchain with Walmart will be in an encrypted format. The later will limit access to the contents in transit with blockchain technology ensuring scalability and security of the same. According to Walmart, drones and selected trucks will be used to deliver the products faster through blockchain integration and the use of smart technology.
Walmart also plans on availing an easy to understand data that can be decrypted by machines with an ultimate goal to ensure an easier interaction between the different communication facets in their system. In the end, the system will reduce the cost of doing business by ensuring goods reach the market faster and less time and resources will get used for shipping.
Walmart plans to join the list of US companies using blockchain like Singaporean port operators. Smart contract forms Walmart second move on using blockchain to reduce cost of business after partnering with nine food retail and supply company to do the same. We expect if /when the patent application will be published, the smart technology will reject the third-party application for the same technology.
With Walmart filling the patent application twice in August 2018 and March 1st according to reports from Fintech, we should anticipate a greater security of Walmart tracking device.
