Walmart Looks to Blockchain Tech To Solve Online Shopping Issues with “Smart Package” system
On Thursday, March 1st, 2018, Walmart filed a patent for it’s Blockchain-based “Smart Package” system. The Smart Package system is designed to gather different aspects about package contents, environmental conditions, location, and other data to be stored on the blockchain. The patent also suggests the technology could be integrated with Autonomous vehicles and unmanned drones.
The application outlines that the blockchain tech will be fully integrated into the device, allowing full encryption utilizing “key addresses along the chain of custody, including hashing with a seller private key address, a courier private key address and a buyer private key address.”
Walmart makes it clear in today’s online environment they needed to adapt and find a solution for greater security when shipping packages and protecting the contents of said packages.
In the patent application, Walmart said:
“These online customers many times seek to purchase items that may require a controlled environment and further seek to have greater security in the shipping packaging that the items are shipped in. Current shipping packaging does not provide for such desired functionality.”
In the United States, publication of a non-provisional patent application must take place 18 months before the effective priority date. Upon publication, the application is a tool used for the USPTO to protect your product or system from competitors who may apply for similar technology patents.
As always we here at Cryptobase will keep you up to date as this story unfolds.
Bitcoin Price Rallies 13% to Break Through $11,000
Within the last hour Bitcoin (BTC) price pushed through the $11,000 level in a high volume surge which saw the price reach a new 2020 high at $11,394.
At the time of publishing the price has pulled back slightly to the $11,150 range but purchasing volume continues to rise on the 1-hour timeframe. This suggests that the top-ranked digital asset on CoinMarketCap may have another go at the daily high.
Crypto market weekly price chart. Source: Coin360
As reported earlier by Cointelegraph, on-chain activity registered a significant spike in exchange inflow as Bitcoin price rallied above $10,000 and Bloomberg analysts now estimate that Bitcoin price will rise above $12,000 this year.
Ether price (ETH) also surged above its previous high by rallying to $333.52 but at the time of writing the top altcoin has pulled back below $330.
Bitcoin daily price chart. Source: Coin360
According to CoinMarketCap, the overall cryptocurrency market cap now stands at $326.7 billion. Bitcoin’s dominance index currently at 63.1%.
Also, don’t miss our upcoming conference Cointelegraph Crypto Traders Live.
More than 30 star speakers including Raoul Pal, John Bollinger, Mike Novogratz, DataDash and Jon Najarian will gather on July 30th to discuss the challenges of crypto trading. Join the show for over 9 hours of crypto trading content!
33 CryptoCurrencies In 4 Words Or Less
We put together this list to describe the top cryptocurrencies that are worth your time in 2019.
Each gets four words. There are many!
Hopefully this provides orientation.
Scroll Down To View An Awesome Infographic from MrBtc.org!
Interest Increases in Newest Blockchain ETF
In the U.S., the world’s largest exchange traded funds (ETFs) market, there are four ETFs offering investors exposure to blockchain technology. All four of those funds debuted earlier this year. The newest of the four is the Innovation Shares NextGen Protocol ETF (NYSEARCA:KOIN), which debuted in February.
Data suggest investors are warming up to KOIN. The fund is the first ETF “to use artificial intelligence to identify and invest in blockchain innovators and adopters,” the issuer said. The ETF debuted at the end of January.
As of April 12th, KOIN had over $12.6 million in assets under management, according to issuer data. That is not a particularly large sum in the world of ETFs, but it shows KOIN is off to a decent start. More importantly, investors have recently been taking note of the ETF. Of its $12.6 million in assets under management, $7.05 million has flowed into KOIN since the start of April.
KOIN’s Issuer Defines Blockchain
“Blockchain is a new digital protocol for authentication and authorization that allows parties to bypass a centralized administrator,” according to Innovation Shares, KOIN’s issuer. “To give this basket a more defined framework, stocks are placed in one of four custom stakeholder categories in terms of how they relate to the theme: Cryptocurrency as Payment, Mining Enablers, Solutions Providers and Adopters.”
KOIN holds 42 stocks, including well-known companies such as Visa, Inc. (NYSE:V), Amazon.com Inc. (NASDAQ:AMZN), Oracle Corp. (NYSE: ORCL), NVIDIA Corp. (NASDAQ:NVDA), and American Express Co. (NYSE: AXP). Semiconductor maker NVIDIA is one of the largest producers of the graphics cards essential in the mining of digital currencies.
KOIN “seeks to give investors access to companies that may benefit from a technology that has the potential to revolutionize the way global trade is conducted, data is secured, supply chains are managed, financial instruments are cleared and contracts are recorded,” according to the issuer.
Components in KOIN must have minimum market values of $100 million. The ETF charges 0.65% per year, the equivalent of $65 on a $10,000 investment.
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