The global logistics company UPS recently applied for a patent to use blockchain technology in its delivery processes.
Among other benefits, the company hopes that technological innovation will increase efficiency when routing packets across multiple operators.
UPS patent could improve delivery service efficiency
According to SupplyChainDive, UPS is trying to explore the implications of blockchain technology in a much larger capacity than previously believed.
The company joined the Blockchain in the Trucking Alliance (BiTA) several months ago to help promote trust and improve efficiency when making transactions. At the time, UPS had stated that it hoped that blockchain technology would be used primarily in line with their customs brokerage activities.
However, the patent application, presented Thursday, shows that UPS is taking a much more technology interest. Explain that the company's customers are looking for more transparency in terms of deliveries, as well as faster and cheaper shipments.
Blockchain technology is thought to be one of the tools needed to optimize services in such a way that the benefits
The patent also mentions the phrase "automated determination". It appears that UPS plans to use the software developed in conjunction with their blockchain system to enable greater efficiency in creating optimal package paths without the need for human involvement.
Furthermore, in the patent it is mentioned that packets will be able to be completely traced when they are taken from different platforms. This will allow payments to be made at each stage of delivery. The delivery itself will provide the trigger for the payment, rather than requesting an additional action from the courier.
Finally, the document also states that "virtual currencies" can be considered acceptable methods of payment in the system. This would be good news for those hoping to see greater adoption of digital resources like Bitcoin and Ether.
While the implications of the blockchain become more fully understood, we are starting to see further uses of innovation. Already this year, NewsBTC has reported potential use cases in the fishing industry, as well as meat suppliers.
Using the distributed registers, the articles can be traced from the point of origin to their final consumers. This will disrupt the way some companies and government agencies can do business, creating efficiency gains, as well as reducing cases where fraudulent products are passed off as something they are not.
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