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Walmart Submits Patent for Drone System Based On Blockchain

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Walmart

Walmart

Walmart Inc (NYSE:WMT) has felt the convenience of blockchain and is not looking to back down soon judging from its latest patent application submission for a drone communication system anchored on blockchain technology. The patent application submitted to the United States Patent and Trademark Office (USPTO) early this month, dubbed “Cloning Drones Using Blockchain,” shows the retail giant’s commitment in adopting blockchain technology for most of its operations.

According to the details of the filing, the drone-based communication system codes and stores the drone’s crucial operational parameters in decentralized ledgers. The data can be accessed by other drones under the same network that will then decipher and configure the encryptions. Aside from relying on crucial information, the system allows the unmanned drones to know each other’s exact location at every particular moment of flight.

Unmanned Aerial Delivery

Note that the latest patent filing is not the company’s first attempt in blockchain technology, particularly in the field of Unmanned Aerial Vehicles (UAV). Walmart’s venture into blockchain technology began back in 2017 when it filed a patent for an “Unmanned Aerial Delivery to Secure Location.” The package delivery system will enable drones to share information relating to flight routes, Identification numbers, Speed, battery information, flight heights, and loading capacity, among other details. According to the filing, the system will be popular for safeguarding data integrity, considering that information stored on blockchain decentralized ledgers are incorruptible.

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Walmart-IBM Partnership

Additionally, Walmart partnered with American tech titan IBM (NYSE:IBM) for a blockchain-based deliveries tracking system. The futuristic system has since been adopted by the US Food and Drug Administration in the tracking of prescription drugs. Merck and KPMG are also interested in the system. The system that was initially designed to identify and flag recalled foods is already being used to track meat deliveries in China and in the US.

Like Facebook (NASDAQ:FB), Walmart is also interested in having its own cryptocurrency and has already submitted another patent for this.

Featured image: DepositPhotos © nils.ackermann.gmail.com

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IBM is Interested in Working on Facebook’s Libra Crypto

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Libra

Libra

The cryptocurrency space has been on an impressive run this year and one of the biggest developments this year was the announcement of Facebook’s Libra, the social media company’s very own crypto token. It goes without saying that it was a huge announcement and caused a lot of noise in the crypto sphere. As is well known, Facebook (NASDAQ:FB) is heading the Libra project, but the company is going to be helped by many other firms.

Key Development

Today, it has emerged that tech giant IBM (NYSE:IBM) is apparently open to the idea of working with Facebook on this particular project. Libra has caused quite a stir on a global level, but this is perhaps a positive development for the project.

One of IBM’s top executive spoke to CNBC today and stated that the company is open to the idea of working on the Libra project. The company’s general manager in charge of blockchain service, Jason Kelley, stated that IBM is looking for collaborations in the blockchain space.

He said, “Blockchain is a team sport. Our clients are ready to work with (Facebook) and we’re ready to work with all of them to bring it together.” Some of the biggest companies in the world have realized the importance of blockchain and are actively looking for ways to get into space quickly.

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However, it is important to keep in mind that Libra has experienced a massive backlash from policymakers, central banks, and regulators all over the world ever since Facebook made the announcement a few months back. Kelley stated that the entry of credible companies like Facebook brings much-needed legitimacy into the space and hence could, in fact, be a massive positive for the crypto space. The social media giant has reassured the relevant authorities that it is only going to launch Libra once all the regulatory hurdles have been cleared.

Featured image: DepositPhotos © Stockcrafter

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