Retail giant Walmart has been granted a patent by the U.S. Patent and Trademark Office (USPTO). It presents a system based on blockchain technology, which is part of its desire to extend its digital services offer to its customers.

Walmart turns to blockchain technology

Requested in 2017 and obtained on May 17, this patent illustrates Walmart's efforts to turn to new technologies. We know that the company already has an impressive technological arsenal, including many advanced systems for tracking parcels, as well as applications of the Internet of Things.

According to this document, the system proposed by Walmart will provide real-time tracking of products provided by customers. To do this, the company will offer them the opportunity to register an item and set a resale price, while relying on its digital marketplace.

Here is what is stated in the patent application:

Increasing competition from "non-traditional purchasing methods" is driving incentives for "hard-core" retailers to remain at the forefront of new technologies that could improve the customer experience.

The patent states that this innovation will not be limited to retailers, but will also be aimed at consumers, who often use an item for a limited period of time and may then want to resell it. He says this is an often complicated process, as consumers "have to deal with their own systems to agree on future resale".

The described platform is thus supposed to provide "additional support to greatly facilitate the subsequent resale of articles", while encompassing a variety of interfaces such as web browsers, mobile platforms and physical outlets.

The latter patent, for its part, presents "delivery data records in a distributed manner on a blockchain", which will make it possible to follow the transactions during the purchase of the wholesale products, their resale to the customers, and their support. by carriers.

Note that this project follows another patent application, which described Walmart's desire to manage the supply of a delivery truck fleet through blockchain technology.

Real-time monitoring

To complete a transaction, the seller and the carrier will be required to provide their private keys. Once paired, the transaction will be instantly broadcast on the network - although it may require prior verification by the buyer, seller or carrier before it is added to the blockchain.

Then, when the buyer has received his parcel, the carrier must use his private key to confirm the delivery. This transaction will be immediately registered on the blockchain, which will end the purchase process.

It remains to be seen if Walmart's vision will become a reality. Indeed, the company has already filed over the years a number of patents related to the blockchain, and seems for the moment hesitating to implement this technology in an operational way.