Walmart Plans to Store Payment Data on Blockchain.
Cointime (April 20) — Walmart plans to store payment data on blockchain to ensure the safety of their customer's information.
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.
Executive editor： Angel