Supply Chain Gearing Up for Partnership between Drones and Blockchain
A number of retail stores have now applied for a patent through the use of drones in supply.
Are Drones The Next Big Thing In Supply?
Over the recent years, the use of drones has shifted from only the military to commercial services. At the moment, drones are being deployed in sales. Data from Gartner shows that, by 2020, the sale of drones will double to $11.2 billion from $6 billion recorded in 2017.
Integrating blockchain technology with drones can play a major role in enhancing efficiency in military and commercial services. Currently, the drone sector is expected to significantly grow considering that we have a number of ongoing projects to integrate with blockchain. The potential of drone networks powered blockchain is immense.
Recently, American retail chain Walmart has rolled out blockchain technology to handle a section of its supply chain. Unconfirmed reports indicate that the store has already made patent applications for blockchain products. It is believed that the application is meant to handle a fleet of drones.
Under Walmart’s plan, the drones are expected to recognize each other once in the air. They will have identity keys powered by the blockchain technology. Additionally, the devices will be in a position to exchange products. This feature will promote trust within the system. All data about products and delivery locations will be stored in a blockchain system.
USPTO has also revealed that tech giant IBM had handed a patent application for blockchain technology meant to track drones. Through this network, cases of privacy and security will be sorted. Such cases have on the rise in the retail sector.
With blockchain technology, data on geographical location, space zone and air traffic controls will be recorded. Additionally, blockchain has the ability to track different jurisdictions to determine whether drones can fly in such zones.
At the moment, personal drone owners do not earn anything from their unused footage. Things could soon change as blockchain based marketplaces will offer incentives for selling photos and video captured by personal drones.
A similar marketplace might be launched next year by Soar. The firm is currently working on a fair pricing model. The model is aimed at lowering incentives given for ariel footage depending on the strengths of supply and demand.
Introduction of personal drones will play a big role in removing barriers such as licensing that hamper many in different countries. Commercial drones usually require to get relevant licenses before operations.