BTC Wires

UPS To Integrate Blockchain To Tackle Package Delivery Globally

BTC Wires: A lot of us here might not be familiar with this company called UPS. UPS stands for United Parcel Service and it is an international package delivery and supply chain managment company based out of America. According to the recent documents that have been made public by the US Patent & Trademark Office (USPTO), it is evident that UPS has applied for a patent which is based on the Distributed Ledger Technology, which will enable the company to send out packages through an international supply chain which are sure to include a number of carriers.

The abstract of the patent that UPS has filed says that:

“Systems and functions are provided to monitor the automated transportation plan for the shipment of the unit containing at least one unit through one or more transportation routes corresponding to one or more delivery firms.”

To simplify things, let’s understand it as a method which consists of storing and receiving the distributed ledger service that is offered for transporting a shipment unit. The method of receiving and storing the data in a distributed ledger comprises a destination, an origin and transportation parameters; and the services offered. This data is then utilized to generate the transportation plan for moving a shipment unit according to the data stored in the ledger and also fulfilling the services being mentioned. As the receiving and storing in ledger indicates the completion of a particular leg in the transportation plan and leading payment for an entity for delivering the shipment unit according to a particular leg.

Blockchain has been used by a lot of other ventures across the world to improve their tracking logistics. It has been used in sectors ranging from tracking diamonds and their quality to tracking cannabis.