Bitcoin, Crypto currency, Blockchain

UPS wants a Blockchain System for the global shipping patented

The logistics giant United Parcel Service better known as UPS, will in the global shipping trade in the future in Blockchain systems. A corresponding patent application, the U.S. competent authority , U.S. Patent and Trademark Office recently published. By using the Blockchain and Smart Contracts don’t want to save up, you can only manage costs, but in the future, lost shipments come to the bottom of this. Meanwhile, Distributed Ledger technologies (DLTs) are proving themselves increasingly in the logistics industry.

20 million deliveries a day, five billion packages and letters in the year, about ten million customers in over 200 countries – a look at the Figures gives an idea of how large the administrative costs of package giant UPS.

The Blockchain is now to help to make the global logistics to secure feet. In order for this to succeed without any obstacles, has placed the company in February of a corresponding patent application to the us authorities. This, in turn, have published the application now.

With the use of different, coordinated Blockchains, Smart Contracts UPS want to assign now with deliveries from the distribution centre to certain routes, in compliance with the requirements of the various transport service providers, the supply chain should be taken into account along the. On the way to the customer will then be able to all of the relevant information and interfaces, and cost savings can be secured.

The application describes the project:

“On the way from origin to destination can be to transport information and data from the item itself provided. […] Thus, an immutable log of the various transportation stations.“

By using this “Autonomous Service-electoral systems and decentralized transport databases” are supposed to belong especially lost packages in the past.

UPS: the Blockchain has the Potential for “transparency and efficiency”

A further possibility of using the Blockchain within the supply chain are currencies, also Cryptographic. It is said in the application, the logistics system could, in the future, “to use Bitcoin, Ether and the like” in order to pay service provider automated.

In the past, UPS had already been demonstrated several times open for Blockchain applications. So, the group 2017 was joined to the logistics consortium Blockchain in Trucking Alliance (BiTA). In addition, you had to be heard, to consider Bitcoin may have to pay in the range of packet stations.

At the time, innovation Director Linda Weakland praised, DLTs had tremendous “potential, transparency and efficiency” of the industry to increase.

The published patent application is sometimes the first serious attempt to integrate Blockchain technology directly into the field of business.

Blockchain in chain delivery systems – A proven recipe

While UPS is now hoping for confirmation from the US authorities, is not the parcel service long-for the first company that the potential of DLT in the field of logistics advantage. Rather, numerous pilot projects are proof alone of the past months, the use of the Blockchain in order to secure supply chains and make it understandable.

At the beginning of August about the Software giant, IBM, had introduced, in cooperation with the Danish shipping company Maersk, the Blockchain platform TradeLense. This is to specifically address the problems of the shipping logistics. Like BTC-ECHO reported, currently have explained, over 90 industry organizations, to want to use in the future.

The Success of a previous milestone in the industry, in turn, had announced previously, the Australian Commonwealth Bank (CBA). So, the Bank managed using an Ethereum-a Blockchain 17 tons of almonds automates and shipping traceable from the Australian Victoria to Hamburg.

Another example of a similar effort is currently pursuing the Australian government. Since August, Canberra promotes a Blockchain project for sustainable sugar. The focus of the technology is also here to secure the supply chain of sweet Good and so its origin and quality.

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