UPS Files Patent to Enhance Their Shipping System Using Blockchain Technology

The American global shipping and supply chain giant, United Parcel Service (UPS) has filed an application for a patent with the US Patent & Trademark Office.

UPS is looking for enhanced security and protection by using blockchain technology for storing different types of information within a distributed ledger network. The information stored includes data concerning the package’s destination, the movement involved, as well as transportation plans. The patent cites::
“An exemplary method comprises receiving and storing in a distributed ledger service offers for transporting a shipment unit; receiving and storing in a distributed ledger shipment unit data comprising an origin, a destination, and transportation parameters; matching service offers stored in the distributed ledger to the shipment unit data to generate a transportation plan for transporting the shipment unit in accordance with the shipment unit data […]”

UPS is not the forerunner to implement distributed ledgers in the shipping sector.

The Commonwealth Bank of Australia (CBA) using distributed ledger technology, recently shipped and tracked 17 tons of almonds to Hamburg, Germany. Chris Scougall, CBA Managing Director of Industrials and Logistics in Client Coverage commented:

“Our blockchain-enabled global trade platform experiment brought to life the idea of a modern global supply chain that is agile, efficient and transparent. We believe that blockchain can help our partners reduce the burden of administration on their businesses and enable them to deliver best-in-class services to their customers.”