Accenture accelerates blockchain technology adoption with a new patent for Network Logistics

Accenture accelerates blockchain technology adoption with a new patent for Network Logistics

Accenture accelerates blockchain technology adoption with a new patent for Network Logistics

Adding blockchain tech capability to its list of diversified services has been global consultancy firm, with its latest patent seeking to upgrade  of its logistics network to the blockchain platform.

In its latest application before the U.S. Patent and Trademark Office (USPTO), the professional consultancy firm wants to bring in the potentially disruptive technology of distributed ledgers as the default technology for its products and service range.

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Towards this attempt it has inducted a device which will have the capability to ‘indicate’ its arrival at the destination.

The patent application stated that “The device may perform an analysis on the product to determine an attribute of the product. The device may perform a comparison of information identifying the attribute of the product and information included in an encrypted record, for the product, of a blockchain, to verify the attribute of the product.”

Blockchain technology is a bandwagon in which every new-age enterprise wants to gain sustainable footprint. Accenture’s early attempts to gain legitimacy in the blockchain tech for its diverse consultancy and professional services space have already been affected by the controversial “editable blockchain” application is proposed.

The agency which provides worldwide consultancy and proficiency services has been strategically embracing blockchain technology as its next level of evolutionary growth.

In this direction, it has been exploring functionalities in its sphere of business built on the blockchain platform. Its journey thus far has been two patent applications-old.

The first was about enabling ‘corrections’ on blockchain and drew the flak of purists in the industry as they vouch for its adoption by the rest of the world, purely for its ‘immutability’ characteristic.

In the second such blockchain capacity building attempt, it has sought to standardize supply chain tool by collaborating with a key aerospace player, French company Thales with a distributed ledger platform. In this collaboration, the French executives said that “The aerospace and defense industry has one of the world’s most vast and complex supply chains. Blockchain technology offers a new, elegant and secure way for the industry to track and trace myriad components while deterring counterfeiting and improving maintenance capabilities.”

Earlier it has roped in world’s leading logistics player, DHL, to build a decentralized supply chain for the pharmaceutical sector. Announced in March this year, the two companies jointly showcased the capability of the technology in ensuring further transparency or ‘serialization’ of the supply chain in critical product segment of pharmaceuticals. The chain prototype would essentially include nodes spread against six geographies for the explicit purpose of being able to track the movement of these sensitive products across the different stages of supply – from the manufacturer to the store-front or the distributor.

The platform will use the ledger which will track the movement of medicine with all of the stakeholder chains. The list of stakes includes the manufacturer, warehouse, distributor, pharmacy, hospital as well as doctors. The lab-simulations also show that the blockchain will handle nearly seven billion serial numbers that are unique to the pharma transaction platform at the rate of 1,500 transactions every second.