New Blockchain Patent filed by UPS to increase the efficiency of delivery!

UPS, a Global Logistics Company has recently filed for the patent proposing the use of this new decentralized Blockchain technology in their delivery processes. The clear motto behind this patent is to improve the efficiency of the entire delivery process in which the package moves from one carrier to another before being dropped to the destination.

Blockchain Improving Delivery Efficiency | UPS

UPS is looking to explore the new decentralized technology that has gained so much popularity in multiple industries for improvement in its delivery efficiency. Months before today, this company joined BiTA that is Blockchain in Trucking Alliance to help promote the trust and enhance the efficiency of the transactions. Not only this but with this UPS also hoped that blockchain would be used as a primary level with their customs brokerage business.
This interest of UPS in Blockchain technology has been clearly depicted by this patent that they have filed to provide greater transparency to the customers in terms of the deliveries along with making these deliveries cheaper and faster.
They also said the intention behind introducing blockchain technology in the system is to streamline the services in a way where the benefits of the implementation can be directly felt by the customers.

Let’s Look what this Patent actually states?

The patent application submitted by UPS states the phrase “automated determination”. It seems like the company is planning to use the software in conjunction with the blockchain system allowing the enhanced efficiency in a way of creating optimal routes for packages without the need for any manual involvement. Not only this, the blockchain technology implemented in this system will also enable the tracking of the packages that are being shipped via multiple carriers. Also, adding on to this, the system they propose will automatically trigger the payment once the carrier reaches the destination.

What else?

This is not where the story ends. Adding onto the features, the patent also states that with this system they will also initiate the cryptocurrency acceptable payment system.
This sounds like something impeccable and we hope that they manage to bring this to practical use.

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