The report unveils that the service should consider using blockchain technology to reinforce its supply chains, create connected device networks or even issue its own digital currency. The Postal Service already offers some financial services, including money orders and international money transfers, where blockchain could be an enabling tool.
Report findings recommend the creation of a cryptocurrency for the Postal Service itself. Initially the cryptocurrency was proposed in a 2015 paper by Switzerland-based consultancy Swiss Economics and was called ‘Postcoin’. Postcoin assists global money transfer problems and support globally connected postal offices to transact with one another directly.
The report suggests that the Postal Service could use a public blockchain like bitcoin’s for this application. Furthermore, when using technology for supply chain monitoring through sensors and blockchain smart contracts, cash releases along the supply chain’s lifecycle are initiated.
According to the report, the Postal Service could start looking into using the technology for supply chain monitoring. This would be accomplished through the use of sensors and blockchain smart contracts to trigger cash releases along the supply chain’s lifecycle.
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