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Blockchain technology will help secure unmanned aircraft deliveries. The retail company Wal-Mart recently applied for a patent application entitled “Unmanned aerial delivery to secure location” which exposes Wal-Mart’s intention to automate delivery drone logistics by using blockchain technology.
Blockchain is a distributed ledger technology from the Fintech field, that enables the creation of an immutable record of transactions to share with multiple participants in a business network. Many consider blockchain to be a game-changing technology: it can be used across many different types of industry verticals due to the technology’s high level of security and no need for a central authority to approve transactions.
According to natlawreview.com, Wal-Mart’s patent application describes a system that would comprise a blockchain processing device that tracks, registers and authenticates items of the payload moving through a supply chain.
The technology would improve upon last-mile shipping and could include elements such as location tracking, supply chain transition, authentication of the courier and customer, product and container temperature control, etc.
According to fortune.com, Wal-Mart can use a blockchain not only to authenticate identity but to also track other useful information about a package as it moves through a supply chain, too. For instance, a blockchain-based database could log information such as time, location, handlers, delivery date, pickup protocols, and other data in a tamper-resistant format that’s accessible to—and able to be trusted by—couriers, customers, and any other intermediaries along a package’s route.
Innovations in the FinTech field, and specifically blockchain, are also being considered in the autonomous vehicles industry. Automotive manufacturers are beginning to study how blockchain can improve upon key functional areas in the automotive industry, including areas such as data collection, smart contracts, insurance solutions, smart manufacturing, supply chain logistics, retailing and leasing, and new mobility business models such as car-sharing and ride-sharing.