Bitcoin, Crypto currency, Blockchain

Patent of Walmart describes P2P marketplace

A new Patent from Walmart describes a P2P marketplace, which is Craigslist, Ebay, Rent-A-Center, as well as the marketplace of Facebook and Amazon and their Marketing Empire merge. It proposes the use of a Blockchain Ledger (Blockchain-based the main book) and to use cryptographic keys for ease of re-sale distribution.

Walmart’s Patent

If a buyer wants to sell a product again, he could do that at any time, on the proposed re-sale platform. This would retain certain data, for example, the original date of purchase and Marketing Material.

The architecture of the patent describes “additional support for later re-sale of products”. The desired platform could be based, among other things, either at point of sale, Browser-based, or on a Smartphone be used.

Retail applications

The concept plans to continue to change the retail industry in General, and to develop new ways to reach customers. The Walmart Patent also mentions the increasing competition from “non-traditional procurement mechanisms” as an incentive for “bricks and mortar” retailers, to be new technologies that could improve the customer experience.

An Online Shop could make purchases at Walmart, without processing the order directly and could then perform the product immediately on their own Website, however, on Walmart’s Ebay sell – in Essence, with Walmart as a payment processor.

The use of Blockchain

Blockchain technology could be used to keep track of these payments, to ensure that the products remain in the right hands.

Private keys would be implemented, with the sellers, couriers and purchases to agree. The seller and the courier must provide your private key. As soon as the transaction is completed, it is sent the transaction to the network.

Further verification could be added by the buyer, the seller and the courier, before they are added to the Blockchain. If the buyer picks up the package, would a scan of the courier the private key to the confirmation of the Transfer, or enter, which then immediately update the Blockchain with the transaction and the end of the buying cycle highlighted. In Essence, a Live Feed of the supply chain.

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