Walmart Wants to Use Blockchain Technology

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Walmart, one of the world’s biggest retailer, wants to utilize a blockchain-based technology to ameliorate the smart package delivery tracking system.

The U.S. Patent and Trademark Office (USPTO) released a document that describes a “smart package”, in which information on a blockchain concerning the contents of the package, its environmental conditions, its location and more would be recorded. The “smart contents” could also be used with other technologies such as autonomous vehicles and drones.

Last year, a Walmart patent file explained it is planning to use blockchain technology for the drone delivery tracking system, since online shopping has brought many shipping challenges for the retailer.

The giant retailer said in the files,

“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.”

According to the application, the blockchain-based technology underlying the shipping drones will be encrypted in the device and will have “key addresses along the chain of [the package’s] custody, including hashing with a seller private key address, a courier private key address and a buyer private key address.”

Walmart is well aware of the potential of the technology and wants to apply it in many other areas of its business.

Last year, the giant retailer partnered with many food companies and IBM to improve food tracking.

Many big companies are now considering using blockchain-based technology since it is much more efficient than traditionnal centralized applications.