Walmart filed a patent which was aimed at using blockchain to make shipping smarter. With the help of blockchain, the tracking system will be created which will help in tracking each and every package quite easily.
According to the patent application, Walmart will be using something which is known as a smart package. The smart package will update the blockchain with the details of the contents of the package. It will also update the blockchain with the environmental conditions in which it is currently. Moreover, it will also update the location as well as other data related to the package. This ensures that constant updates are enforced while shipping the items.
The patent was filed back in August 2017. According to Walmart, shipping perishable products still remain a challenge. Also, it is necessary to innovate more in order to reduce the wastage in the shipping perishable products. According to Walmart, the consumers who are purchasing perishable goods online require them to be shipped in controlled condition. This is the reason why smart packaging is actually pretty useful.
According to the application, blockchain data will be in the encrypted format. This ensures that it will not be easy to access. Moreover, the destination address will be encrypted which will ensure that there is no leakage of data.
Walmart is currently planning on using drones as well as other vehicles in order to deliver products. With the help of blockchain integration, it will become easier for them to automate the various deliveries as well. Also, data will be available in the form in which machines can easily understand it. This will ensure that there is seamless integration between the different components of the delivery mechanism. This will not only reduce the waste but it will also reduce a lot of time and money as the products will be delivered at a faster pace.
Kroger, Nestle and various other companies in the food industry are already working along with IBM. They are trying to build a tracking system with the help of blockchain technology. It remains to be seen which of the companies are able to 1st launch their tracking systems and whose tracking system is more successful. One thing which is for sure is that most of the companies are relying on blockchain technology in order to innovate in their respective fields. This will mean that blockchain technology in the future will go mainstream.