Blockchain

UPS eyes blockchain for global supply chain initiative

UPS is considering the use of blockchain technology to streamline package delivery logistics.

According to documents published by the US Patent & Trademark Office (USPTO), it has applied for a patent that revolves around distributed ledger technology to route packages throughout an international supply chain which may include multiple carriers.

Abstract as follows: “Systems and methods are provided for the automated determination and facilitation of a transportation plan for transporting a shipment unit containing at least one shipment unit through one or more transportation networks corresponding to one or more carriers.”

“An exemplary method comprises receiving and storing in a distributed ledger service offers for transporting a shipment unit; receiving and storing in a distributed ledger shipment unit data comprising an origin, a destination, and transportation parameters; matching service offers stored in the distributed ledger to the shipment unit data to generate a transportation plan for transporting the shipment unit in accordance with the shipment unit data, each service offer corresponding to a leg of the transportation plan, receiving and storing in the distributed ledger an indication of completion of a particular leg of the transportation plan, and causing payment of an entity for transporting the shipment unit along the particular leg.”

Scott Thompson

Scott has been working in technology and business journalism for nearly 20 years, with a focus on FinTech, retail, payments and disruptive technology. He has been Editor of such titles as FStech, Retail Systems and IBS Journal and also contributed to the likes of Retail Technology Innovation Hub, PaymentEye, bobsguide, Essential Retail, Open Banking Hub, TechHQ and Internet of Business.

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