According to Fintech Finance reports, Smart Package, which is an application of US trade giant Walmart, has been released by the US Patent and Trademark Office (USPTO) on 1st March. Smart Package patents employ a tool, based on blockchain to track down the location, environmental conditions, package contents, and other details. The main purpose of such blockchain applications is to be used in the latest technologies like unmanned drones etc.
Such blockchain applications help in recording the main addresses like; seller private key address, a buyer private key address and a courier private key address. According to this application, the current tracking instruments don’t offer such coveted functionality yet. Fintech Finance also reported that Smart Package application was first filed by Walmart in August 2017. This application isn’t the first one, in which Walmart has utilized Blockchain technology because, Walmart merged with IBM, back in 2016.
UPS, which is a US shipping company joined BiTA in November 2017 because, blockchain technology is quite popular among delivery and shipping companies. Publication of a non-conditional patent application occurred almost 18 months before its initial precedence date in the US. Once it’s published, USPTO can use a patent application to reject the third-party patent applications for the correlated technology.