Walmart Files Patent for Blockchain Based Marketplace for Reselling Purchased Products

Walmart-Files-Patent-for-Blockchain-Based-Marketplace-for-Reselling-purchased-products

The US retail giant, Walmart, filed a patent on May 17 regarding a blockchain based marketplace for reselling purchased products. The patent was filed with the US Patent and Trademark Office, which describes the service as a record of customer purchases on a blockchain ledger. This would allow customers to resell the items on a sales platform utilizing the blockchain record of purchase.

The patent states that customers don’t always plan to utilize items they purchase at their stores for their entire lifespan. These items are generally left to be arranged for resell after a subsequent time.

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The architecture within this blockchain patent will provide additional support to ease and facilitate the reselling of items purchased at Walmart. The interface of this blockchain app is still undecided; however it will be both browser and mobile based.

Walmart intends to stay competitive within the “nontraditional shopping space” as there is an incentive for brick-and-mortar stores to stay ahead of cutting edge technology which could improve their customer’s experience.

In March, Walmart also filed a patent for their new delivery mechanism which uses the blockchain based tool for tracking packages,  locations, and environmental conditions. The name of the patent is labeled as the “Smart Package” delivery system.

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