VeChain, the supply chain management giant, has recently been granted a patent for a mobile automated inventory container bin and system powered by the VeChainThor blockchain. This invention aims to tackle the challenges associated with manual inventory counting and record-keeping, which often result in inaccuracies.
The patent, scored by VeChain on July 2, 2024, highlights the company’s commitment to addressing inventory control and tracking issues for businesses. The system utilizes the VeChain Thor blockchain to provide a method and system for dynamically monitoring the location of items placed in movable containers or bins. It also offers automatic tracking of items from storage location to container or bin.
In addition to tracking individual items, the invention can also monitor the movement of the container itself throughout the product’s life cycle. This feature makes it particularly useful for supply travel-related events such as airplanes and buses.
VeChain’s patent reflects its ongoing efforts to develop innovative solutions across various industries, including supply chain management, counterfeit prevention, agriculture, and the automotive sector. The company’s potential is expected to expand beyond these current use cases, finding applications in healthcare, logistics, and smart cities.
VeChain’s commitment to environmental efficiency is evident in its recent approval of the Carbon Trading Patent application by the U.S. federal agency Patent and Trademark Office (USPTO). This initiative focuses on methods, devices, blockchain nodes, and systems for carbon recording and trading.
Despite these advancements, VeChain’s native token, VET, has faced some challenges in the market. It has experienced a decline of 12.6% in the last seven days, trading at $0.0239. Nevertheless, VeChain continues to push forward with its innovative solutions and aims to make a significant impact in various industries.