UPS files New Blockchain Based Global Shipment System Patent

20 August, AtoZ Markets UPS, one of the biggest shipping companies in the world, has reportedly filed for a new patent that intends to utilize Blockchain as part of a distributed system for sending packages globally.

UPS Files Patent for New Global Package Shipment System

The patent application has been brought to the public’s attention by the US Patent and Trademark Office (USPTO). The document reveals that the company is interested in using Blockchain to restructure the way how shipments move worldwide. The patent has been entitled “Autonomous services selection system and distributed transportation database(s).” 

The concept behind the patent involves storing a number of data types within a distributed ledger network. This includes the data regarding package movement, its destination and the transportation plans for shipment units.

UPS has previously joined a transportation-focused blockchain consortium back in 2017. The company has also been hinting at the idea of accepting Bitcoin via a suggested system of item-exchange lockers. 

Using multiple Blockchains

Another point worth noting is that UPS proposes using more than one Blockchain in a bid to track a range of shipment orders. Distributed ledgers would “each provide varying information/data regarding respective asset types (e.g., shipment units and/or associated shipment units).”

The company further writes:

“Thus, certain embodiments enable tracking of the first set of shipment units and a second set of shipment units associated with the first set of shipment units separately, thereby enabling the use of various smart contracts relating to shipping services and shipment unit handling in a bifurcated manner.”

According to some of the online reports, this move from UPS is not surprising, given the scale of the shipping giant. The company needs to eventually seek ways to improve its processes, and Blockchain provides just the method. 

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