Walmart 2020; Leading Blockchain Solutions
Blockchain technology and research has soared in popularity for the last few years. Many only heard the term "cryptocurrency" or "bitcoin" and that was their extent of this new technology. Soon we all were made aware of the "Bitcoin Blockchain" and the next phase had arrived. What is the reason for all the hype about bitcoin? The answer...the technology that keeps it safe and secure; the Blockchain.
Now it's 2018 and 1000's of interested parties have either sought more information, business benefit, plausible use cases and even patents for blockchain use. This is absolutely remarkable when you truly think about it. The internet first came on the scene and we all were captivated by the access to information. We could pull up anything right at our fingertips as fast as we could type. This was awesome and created a new way to connect people, places and things across the globe and some would argue...and beyond. :-)
Today I know you have heard of many companies tinkering with blockchain technology. One in particular has caught my attention and I'm sure you will be enlightened as well. The retail giant "Walmart" is interested in evolving with the times vs setting the pace for consumers and other retail business alike. With the advent of eCommerce and the Amazon giant giving Walmart the shivers, there must be an angle that the Walmart machine can play to bring about their leading in this or the next big field. Thus, the interest in the latest and hottest technology; Blockchain.
The top companies that are truly leading the charge are IBM, Visa, Microsoft, Victory Square Technology and even Cognizant and Accenture. Now we have come to know that Walmart has done some test but recently were awarded multiple blockchain patents for areas that you don't normally find Walmart's interests. This is very interesting. And very smart.
One of the patents covers a system that would allow households to manage their electric usage through cryptocurrency. This would be operated by public blockchain. Energy companies are very inefficient in how they operate and pass on unnecessary expense to the consumer because of their mismanagement of power at the central source. This can possible have a dramatic and positive effect for the consumer.
Have you heard of "EHR?" EHR is electronic health records. This is a major headache for patients and hospital or healthcare system alike. People should be able to access their medical records at their leisure without any interference from the medical community. Access can be had and records transferred at the request and permission of the record owner; you. This is being researched by Walmart and other companies. You can have the like of a "fitbit" / wearable technology and access your records, sent them to the appropriate agency that you choose to view them for your convenience. This is a great use of the blockchain at reduced cost.
Another patent is awarded to Walmart to securely control or limit the access to virtual or actual space with cryptographic key access stored on the blockchain. Not much more is known about this one.
Of course Walmart is certainly looking into vendor payments and digital shopping via the blockchain for access and better security of customer shopping behavior and payment histories. Now it is controlled by third parties yet, it should be in your hands.
Walmart has previously filed a host of other crypto-related patents. One seeks to record and organize customer transactions on a blockchain storage system. Another aims to enable smart package delivery via a blockchain network for supply chain management says a writer from Telegraph.uk.
Blockchain technology has clear leaders in the financial sector and gaming arena. Retail has been a bit more challenging yet, there are many companies looking to effectively change that with their interest and timing. It was only a matter of time that the largest retailer was to get hooked by the blockchain bait. And we will all benefit in one way or another. Welcome to Walmart Blockchain; 2020.
For more information about our Blockchain and Cryptocurrency please visit my Altcoin group at Altcoin Academy - Cryptocurrency Era.
