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The Walmart Blockchain Project | Solving Online Delivery Complications

Walmart blockchain: Delivery is one of the most challenging aspects of online retail and Walmart is determined to solve its delivery problems with blockchain.

Back on July 5th, the big box retailer headquartered in Bentonville, Arkansas was rewarded a blockchain patent that focuses on the scheduling and delivery of packages. The patent was originally filed back on January 3rd, 2017.

Delivery Hub

The patent talks of delivery hubs, very similar to Amazon’s lockers, which will use a public blockchain to determine available capacity and make reservations for delivery.

The information regarding which locker is available or not is recorded on a public ledger. Once the requests for the reservation is made, the ledger is analyzed to see if there is sufficient capacity available. If there is, a contract is executed to reserve the storage capacity for the online delivery. Once completed, the public ledger is updated.

In order to utilize a blockchain reservation platform, each delivery hub will become a node within the blockchain network.

The patent application reads:

“Updates to the blockchain may comprise transfer of capacity units into and out of the public ledger, and one or more nodes on the system may be configured to incorporate one or more updates into blocks to add to the distributed database.”

Delivery Solved

Amazon first introduced its ‘Amazon lockers’ a few years ago and are trying to solve the delivery pain points. Theft is a huge issue among online deliveries as most individuals aren’t home during the day when packages are delivered.

Often, if packages require a signature, you may be waiting multiple days before you can receive it as there are often communication issues between the customer and the delivery driver. Scheduling to pick up your package at a locker saves both time, money, and potential frustration. It’s a win-win for everyone, and Walmart has acknowledged that.

What do you think of the Walmart blockchain solution?

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Walmart Creating a Bitcoin-Powered Electrical Grid – Crypto Currency News

Walmart Creating a Bitcoin-Powered Electrical Grid – In many ways, blockchain technology is going to provide the world with a lot of good. However, the technology does have a couple of downsides. While there is an increasing concern over the energy consumption of blockchain, companies around the world are trying to reduce this problem’s severity. 

The latest company to venture into solving this issue is retail behemoth Walmart.

Walmart Creating a Bitcoin-Powered Electrical Grid 

On Thursday, word broke that Walmart had won a patent for the development of a Bitcoin-powered electrical grid. Now, this isn’t brand new information; Walmart actually filed the patent back in December of last year. However, now is the perfect time to have found out the company won the patent, considering crypto energy consumption has become a popular topic of choice in the past couple of months. 

So, what does Walmart creating a Bitcoin-powered electrical grid even mean? Well, the system is thought to help companies better manage their energy consumption. It will also help companies regulate demand on an electrical grid. How? Well, according to the patent application published by USPTO and CoinTelegraph, they will do so by using a publicly distributed transaction ledger. 

Simple Terms

So, a household has numerous appliances. Each appliance consumes certain amounts of electricity. However, sometimes, one of these appliances will consume more power than it should. This is where the Walmart patent design enters the picture. Walmart is developing a Bitcoin-powered electric grid so energy can be distributed among household appliances accurately. 

According to the Walmart patent, both households and companies are eligible to use a blockchain-based network. The blockchain will then record each transaction made by an appliance. Homeowners can then look at the network, and see which of their appliances are using too much energy.

>>County in Montana Delays Decision to Suspend Bitcoin Mining Operations

Crypto Energy Consumption 

It’s worth mentioning that Walmart is not the first company to design a system like this. In fact, Power Ledger, an Australian-based startup, is currently building a platform that allows a person to purchase and sell solar electricity. What makes this interesting is that you can do this in real-time.

Moreover, there are a number of countries dealing with the issues centering around crypto energy consumption. Some have even halted all crypto mining projects, due to too much energy being used. 

The Takeaway

What do you think about Walmart creating a Bitcoin-powered electrical grid? Yay or nay?

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