Accenture Global Solutions, a professional consulting firm is considering using blockchain technology to make shipping logistics easier and more efficient. Concerning this endeavor, the company has filed a patent to the U.S. Patent and Trademark Office on Thursday 26, July.
The patent filing describes a system to determine the type of characteristics of the object being freighted, and also store the information on a blockchain network. Owing to the immutability of the blockchain technology, the system will be able to track the object as they are being moved from one location to another. The data and information stored on the distributed ledger will be used to confirm the status and condition of the object from anywhere.
Various systems like robots or unmanned aerial vehicles could be integrated with the blockchain network to can check on the status and integrity of those objects as they are transported to different locations, comparing their status to the information that’s already stored on the blockchain.
An analyzing and identification system aboard a driverless or autonomous vehicle will be used to analyze and identify the object being shipped by comparing the objects information with the data already embedded in the blockchain. If the object being conveyed matches the data on the blockchain, the system will then allow it continue with its journey. However, If the object’s data does not match the information on then blockchain network, the system may order the vehicle to return the product and halt the payment.
To ease human input and increase automation, Accenture’s new system can create alerts and messages for the factory managers which partake in the shipping process or to government agencies in charge of regulating that particular product. If necessary, the system could also decide to request for on-site investigator I the product shows signs of being tampered or altered with.
This new application by Accenture is the latest in a line of blockchain-related designs the company has worked on in recent years. In October last year, Accenture worked with the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) to develop and manage a blockchain-based platform for interbank transactions as part of Project Ubin. Project Ubin Is a global initiative to explore the use of Distributed Ledger Technology (DLT) for the clearing and settlement of payments and securities.