US-based retail giant, Walmart, has been awarded a patent detailing a Blockchain-based invention that focuses on the delivery of goods as well as scheduling the delivery time and location of the packages.
“Delivery Reservation Apparatus and Method”
According to a release by U.S. Patent and Trademark Office (USPTO) on July 5, the newly published patent application, which is titled “Delivery Reservation Apparatus and Method,” outlines a blockchain-based delivery management system that can maintain the safety of delivered goods until their buyers can audit and receive them.
The patent was reportedly filed in early 2017 features using a public ledger to make orders for goods as well as determining the available capacity of packages.
According to the patent, details of both the reserved and available items are noted on a public ledger. The public ledger gets analyzed to determine the available capacity after the users make request reservations. If there is any correlation, a contract to reserve capacity is executed; afterward, the public ledger is updated to display this development.
Using blockchain reservation system features each delivery hub or docking station as a vital node within the blockchain network. The patent with application number 62441705 reads:
“Updates to the blockchain may comprise transfer of capacity units into and out of the public ledger and one or more nodes on the system may be configured to incorporate one or more updates into blocks to add to the distributed database.”
Other Blockchain-Based Patent Granted to Walmart
Earlier in the year, Walmart had a similar patent application for a “smart package” which is based on blockchain technology for tracking shipments with drones, obtaining a range of data such as package contents, location, environmental conditions, and other related information.
Another patent awarded to the retail giant is that which details a way of securely storing medical records on a blockchain and gaining instant access to them when an emergency occurs. Recently, a patent outlining a cryptocurrency-powered electrical grid was also granted to Walmart.