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Walmart To Use Blockchain For Payment Sharing And Courier Shopping System

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Retail giant Walmart is looking to use blockchain technology for their vendor payment sharing system and courier shopping system.

This was revealed in two patent application published by the US Patent and Trademark Office (USPTO) last week. The applications were originally filed on October 13, 2017.

One of the applications refers to a "vendor payment sharing system" that mainly will automatically process payment for a total amount due for the products and services and also automatically divide the payment between parties that provided the products and provided services.

It also provides for the system to be further programmed to encrypt the payment and the division of the payment with a blockchain.

The patent application is for the process which begins with access of data by a customer computing device, cost of products and service fees, acceptance of order, courier selection, delivery, payment and splitting of payment to various suppliers.

Walmart has been upbeat about using blockchain technology, which underlies bitcoin and some other cryptocurrencies, rather than launching its own cryptocurrency for use in its stores.

The retailer has previously filed patents to use the blockchain technology to ensure accurate delivery of its "smart packages" as well as a delivery management system that improves the delivery process using robotics, sensors and blockchains or distributed ledgers.

In August last year, Walmart was among ten of the largest food producers and retailers, including Nestlé, Tyson Foods, and Unilever, who announced collaboration with IBM Blockchain to help track food supply chains and improve food safety.

by RTTNews Staff Writer

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