My crystal ball tells me Walmart will be one of the first to start accepting Bitcoin… then the explosion will start with other chains before the smaller stores finally come on board.
To help with its efforts towards more efficient delivery, US retail giant Walmart is looking to patent a system that utilizes Blockchain technology to track the delivery of packages by its unmanned drones.
The same Blockchain technology is being used by cryptocurrencies such as Bitcoin and Ethereum.
Complete supply chain?
To distinguish itself from other retailers, since October 2016 Walmart has been working on a project to use Blockchain technology to develop a solution aimed at improving the way food is tracked, transported and sold to consumers across China.
In their patent application with the US Patent and Trademark Office (USPTO) on May 25, entitled “Unmanned Aerial Delivery to Secure Location,” it was outlined how Walmart plans to incorporate the Blockchain technology into its supply chain:
“In particular embodiments, a box delivered comprise the system delivery encryption comprising blockchain for the package authentication and tracking. The blockchain package tracking contains elements included but location is not limited, customer and courier’s authentication, transition of supply chain, container’s ambient temperature, if available the product temperature, the acceptable thresholds for the product’s ambient temperature, package container system the products and the goods, or just combination of it.”
Will they soon accept Bitcoin payments?
Its recent move in incorporating Blockchain technology with drones only means another crucial part of the supply chain is left and begs the question – will it soon accept Bitcoin or other cryptocurrency payments?
Dislaimer: This is not investing advice, this website is for educational purposes only.