Walmart Plans to Store Payment Data on Blockchain.

    2018/04/20 14:26 Angel lv Created with Sketch.
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Cointime (April 20) — Walmart plans to store payment data on blockchain to ensure the safety of their customer's information.

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On Thursday, the United States Patent and Trademark Office (USPTO) published two patent submitted by Walmart. Both patents are payment data storage through a blockchain-based platform.

Walmart explained in their abstract,

“In one aspect, provided is a vendor payment sharing system, [which would] automatically process payment for a total amount due for the products and services related to obtaining and delivering the products; automatically dividing the payment between parties that provide services related to obtaining and delivering the products and encrypt the payment and the decision of the payment with a blockchain.”

The first filing is on an application for vendor payment sharing system. Walmart hopes to build a payment system that could automatically conduct transactions for vendor and customers.

The second patent is for a courier shopping system.

According to their abstract on the file,

“The system includes a customer computing device for accessing and receiving data produced by the system and a server located at a service provider. The server is coupled to the customer computing device and programmed to operate a courier management system; operate a customer management system; operate a vendor payment sharing system, and operate a customer interface.”

Both of these patent filings revealed Walmart’s view on blockchain technology. Walmart is also researching the application of blockchain on food products.



    Adapted from: CoinTime Executive editor: Angel
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