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The U.S. Postal Service (USPS) released a brilliant report this week that outlines prospective areas in which it could leverage Blockchain technology.
Many of the novel applications that the Blockchain community is currently exploring are in service areas where the Postal Service is already active, which might make Blockchain a worthwhile technology for the Postal Service to consider. The following applications could be of particular interest to the Postal Service.
Financial Services
The Postal Service currently offers some basic financial services, including international electronic money transfers. To provide these services through a digital format that could be cheaper and more efficient for both the customers and the Postal Service, Swiss Economics suggests leveraging Blockchain technology through the creation of a financial platform, that they term a Postcoin platform.
Although financial applications on the Blockchain do not need intermediaries to function, having a trusted entity like the Postal Service acting to facilitate its fair, affordable, and transparent use may help address many of the challenges that currently prevent individuals and businesses from taking advantage of this technology.
For example, the Postal Service could provide multichannel access and assistance online at USPS.com, through the USPS mobile app, and in-person through carriers or at post offices. Postcoin could not only benefit users but the international postal network, for example, by allowing for faster, direct transactions between posts.
Furthermore, embracing new payment technologies and adapting to the changing wants and needs of customers could help the Postal Service remain relevant in a market where the use of electronic money increasingly dominates. Creation of a Postcoin Platform — Two Options The creation of the Postcoin platform could follow two different paths. One option is to “buy in” to an existing, public Blockchain.A postal operator would first have to acquire some coins. Once the post owns the coins, […]
