In a recent patent application, retail giant Walmart ‘missed out on his mind ‘ that it was a plan to store payment data using blockchain technology. ‘
Both of the applications published by the US Patent and Trademark Office (USPTO) onThursday are using a blockchain-based platform aimed at ensuring the security of payment data, preventing private information from being accessed by unauthorized persons. The same Walmart team first planned these two applications, which were published on October 13 last year.
Since both applications will obviously use block-based connections (which will allow only certain groups to operate on nodes) , the system described above will work effectively as described.
The first patent application , which is defined as a reseller payment system, automatically provides a network system that is not possible to act on behalf of the client. Depending on the document, payments may be made by one or more vendors – depending on what services are offered and which vendors offer these services.
The application document details the following:
“This is a system that aims at automatically distributing and distributing the payments to and from the corporations in encrypted form within the blockchain, taking into account which service provider provides the total payment amount related to the products and services to which they are related.
The second application is related to the use of a similar blockchain encryption system for payment information, focusing on digital shopping systems.
According to the authors of the patent application, “part of the dealer payment sharing system also introduces an authentication system for valuable digitalized goods. […] For example, we might say that the authentication system is using one or two of the known blockchain systems. ”
These twin applications are the most recent intellectual property made by Walmart. As we have already mentioned in a previous report , Walmart is also looking for ways to “make shipping smarter” by using blockchain technology as a way of encrypting information.
Beyond that, Walmart is looking for ways to use blockchain applications, especially in order to monitor the transport of food.
