UPS patents the blockchain for tracking

UPS patents the blockchain for tracking
UPS patents the blockchain for tracking

One of the world’s leading logistics companies, UPS filed an application for registration in the Bureau of Registration of Patents and Trademarks (USPTO) for the rights to use blockchain technology as part of a distributed system for sending parcels around the world.

An application called “Autonomous Service of the Selection System and Distributed Transport Databases” is a concept that implies the storage of data in a distributed registry system, including information on the designation of the package, its movements and the transportation plan for the shipment.

The documents say that UPS offers the use of more than one distributed registry to track the number of shipping orders, “each of which provides various information about the respective types of assets (for example, shipping units or associated products shipped).”

“Thus, some versions allow you to track the first set of shipping units separately from the second set associated with the first lot, which allows you to use smart contracts for the service of transportation and shipment of goods in a bifurcated manner,” the official documents of the company said.

According to UPS, the company sent more than 5 billion parcels and documents last year, earning $ 54 billion for the year. In November last year, UPS joined BiTA (Blockchain in Trucking Alliance), a blockchain consortium focused on the transport and shipping industry.

Many freight forwarders and logistics companies are paying attention to the introduction of blockchain technology. Lynx International, a subsidiary of Chinese Internet giant Alibaba, announced the successful implementation of the blockchain in its international logistics operations for General Electrics, as well as the possibility of delivery of parcels “day to day.”

In February of this year, competitor UPS – FedEx said that it was introducing a blockchain to resolve disputes and track parcels. Singapore’s CrimsonLogic in July launched a new logistics service based on the blockchain related to the supply chain, and in August Maersk and IBM began implementing a logistics project on the blockchain.