Amazon Bags Patent to Use Blockchain Technology for Enhanced Supply Chain Transparency
In a bid to leverage the benefits of emerging tech, U.S.-based conglomerate Amazon has filed a patent that utilizes blockchain technology to bring transparency to its large network of supply chain networks. The text of the patent suggests that Amazon is looking to use DLT to verify an item’s shipping along the supply chain.
Notably, the patent explicitly mentions open-source enterprise-geared blockchain project Hyperledger as a likely candidate to help Amazon with its objectives. Placing the highest degree of importance to consumer trust, the patent secured by Amazon aims to reduce the opacity associated with the typically fragmented supply chains by bringing more transparency and security.