Walmart plans to use blockchain for delivery tracking

US retail giant is going to leverage the blockchain in a rapidly growing online shopping market
02 March 2018   1754

On Thursday, March 1 US Patent and Trademark office released an application submitted by Walmart. It indicates clear aspirations of the company to put blockchain to use in its package delivery system. The area of application is tracking. The system includes a blockchain platform and a tracking device called a "smart package". It will record the state of the package, it contents, location, etc.

The actual situation with online shopping is new quality requirements for the area. Namely, perishable products need particular temperature control that drives the innovation of the delivery chain. The "smart package" will be all-in-box solution: it will incorporate the necessary blockchain components like private keys recognition and hashing function. With this inclusion, the device will be able to record the chain of package custody.

These online customers many times seek to purchase items that may require a controlled environment and further seek to have greater security in the shipping packaging that the items are shipped in.


Excerpt from Walmart application

The filing also proposes an idea of a cooperation between the "smart package" system and drone technology, for instance. The update to the patent correlates with last year's concept of tracking delivery drones with the blockchain technology. Also worth reminding that last year Walmart collaborated with IBM to from Food Safety Alliance.

Binance to Join Forces With IdentityMind

IdentityMind provides exchanges with ability to comply with KYC\AML worldwide
26 March 2019   79

Binance announced an agreement with IdentityMind, which will help it ensure compliance with regulatory requirements and improve data security.

IdentityMind provides cryptocurrency exchanges with access to the platform, thanks to which they can monitor compliance with customer identification and anti-money laundering requirements in real time. This includes connecting new customers, managing their profiles and monitoring transactions.

The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it. We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.

Samuel Lim

Chief Compliance Officer, Binance

Last year, Bloomberg wrote about the Binance user identification system as the least strict in the entire industry, and linked the “level of anonymity” provided by the exchange with the risks of money laundering and market manipulation.

In October, Binance entered into an agreement with a supplier of transaction analysis software on the blockchains Chainalysis, and in November with Refinitiv, which developed an automated solution for client verification.

Whether the ordinary users of the platform will feel the impact of the integration of IdentityMind tools on themselves, the exchange does not specify.