Wal-Mart Moves To Empower Customers Through Blockchain

Wal-Mart Empower Customers Through Blockchain

Retail giant Wal-Mart, in a patent application, wants to build a blockchain system which offers customers, they claim, additional value to their purchases.

The customer can register the bought item, have an option to put up the items for resale, with the system acting as a sales platform. The items will be tracked by a blockchain ledger recording all transaction information from the seller to the customer.

In its move to secure intellectual property rights, Wal-Mart has also filed patent applications for systems to track food products and blockchain-powered “delivery” organization.

The most recent patent application by Wal-Mart details the process of how the records of the product movement are maintained, from the supplier to the customer, with new transactions generated each step of the way.

The company proposes:

“By one approach, the transfer from the seller to the courier may require signatures from both the sender and the courier using their respective private keys. The new transaction may be broadcasted and verified by the sender, the courier, the buyer, and/or other nodes on the system before being added to the distributed delivery record blockchain. When the package is transferred from the courier to the buyer, the courier may use the courier’s private key to authorize the transfer of the digital asset representing the physical asset from the courier to the buyer and update the delivery record with the new transaction.”

The retail firm has, in fact, already started a test-run of their automated delivery systems with some select customers in California.

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