A famous shippingcompanyUPS has recently filed forapatent that would employ blockchain technology asa part of new distributed system for dispatching its packages globally.
The patent applicationby the U.S. Patent and TrademarkOffice(USPTO) revealed the company’s interest in the blockchain technology to transfer its shipment movementsround the globe.
The patent was Entitled “Autonomous servicesselectionsystem and distributed transportation database(s),” theideainvolves storingvarioussorts ofknowledgeat intervalsin a distributed ledger network,for package’s delivery and transportation plans for its cargounits.
The shipping company UPS joined a blockchain based transportation-focused conference last year, after which it hinted atthe conceptofacceptivebitcoin through aplannedsystem of item-exchange lockers.
Notably, UPS suggestsemploying many distributed ledgers inan attemptto tracea spreadofcargo orders, each providingvariableinformation/datarelated toindividualchoices.
The firm further stated thatthe companywouldcross-checkother waysto modify its existing methodof shipment movements around theglobe. UPS shippedmore thanfivebillion packages and documents last year, earning more than $50 Bln in revenue.