Cryptocurrency news

Amazon has received a patent for a blockchain system for verifying the authenticity of goods

Amazon has received a patent for a blockchain system for verifying the authenticity of goods

Amazon, the largest online retailer, has patented a system based on distributed Ledger technology (DLT) for verifying the authenticity of consumer products.

Last week, the US patent and trademark office (USPTO) approved an application filed by Amazon almost three years ago called “DLT-based Certification.” The application describes a blockchain-based system for transmitting ” digital trust from the moment of product production and throughout the supply chain.”

The system collects data from distributors, manufacturers, and shippers as part of an “open infrastructure” that distributes information about the origin of the product in information repositories. This data can be shown to the consumer as shown in the drawings attached to the patent.

The system provides customers with transparent information about the origin of the purchased product. In the description of the application, Amazon mocked “the proliferation of systems and databases that often lack transparency, consistency, integrity, or security.” Such systems, according to the company, can undermine trust.

In addition, such” disparate ” technologies do not cover the global supply chain. The company claims that despite existing technical shortcomings, distributed systems offer a compelling solution to supply chain tracking problems.

DLT can protect data from changes, eliminate single points of system failure, and avoid problems that are common to centralized systems. Amazon’s application also States that Hyperledger may be a form of DLL used to implement the proposed system.

Recall that a year ago, Amazon received a patent for various methods of creating a cryptographic system based on pow consensus. In addition, last year, the company opened a shared access to the service for blockchain development. Earlier, Amazon announced the launch of the ICON Development Network project, which will allow developers to “run the ICON private blockchain through AWS without unnecessary difficulties”.