Walmart Receives Another Blockchain Technology Patent As It Streamlines Its Business
Scroll DownWalmart applied for and received a patent from the United States Patent and Trademark Office recently to utilize blockchain technology to store medical records . The records and data will be stored on a device that the individual wears. The purpose of the system, according to the patent, allows medical professionals to obtain medical records from someone who is unable to communicate. A patient’s medical records will be accessible through blockchain. First responders would be able to utilize an RFID scanner to access essential and relevant information necessary to treat the patient such as current medical conditions, allergies, and other medically relevant information. The information will also be able to be shared with hospitals and other relevant healthcare professionals and establishments when necessary. This allows different facilities and medical personnel to obtain relevant information if the patient is transferred to a different hospital or specialty facility to ensure continual access to patient records without ambiguity and confusion. Walmart’s decision to file for a patent and implement the technology is likely because they’re considering the option to purchase the health insurance company Humana, according to Fortune. Walmart and Humana have a close relationship and have been closely linked. If the medical record system using blockchain technology is successful and takes off in a meaningful and useful way, the partnership could create a valuable source and method of obtaining and storing sensitive information. This isn’t the first time Walmart has filed for a blockchain technology patent. They’ve also filed patents to use other blockchain-based systems. These include a marketplace designed primarily to re-sell products that you’ve purchased along with a specially designed “Smart Package” system, which allows an individual to track the contents of a package, current environmental conditions, its location, and other relevant information. They’ve also applied for a patent for an electric grid powered by digital currencies such as Bitcoin or Ethereum. Frank Yianna, vice president of Walmart, stated that the company intends, and is ready, to use blockchain technology for its live food business. The changes cut the time it takes to track its produce from a lengthy six days to an almost-instant two seconds.
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