Application US20190236604

SYSTEM AND METHOD FOR VERIFYING RETAIL RETURNS USING BLOCKCHAIN
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US20190236604

1. A method comprising: (4) (2)

at a first time: identifying, via a processor having access to a blockchain database on a distributed computing system, a blockchain associated with a first product stored at a retail location, the blockchain containing a supply chain record of the first product from a manufacturer to the retail location;

identifying a sale of the first product;

in response to the sale of the first product, generating a new block for the blockchain, the new block including information regarding the sale;

adding the new block to the blockchain, to yield a modified blockchain; and

distributing the modified blockchain to the distributed computing system;

at a second time: receiving a notification of a second product being returned to the product location;

retrieving the modified blockchain from the distributed computing system;

comparing the second product to the new block, to yield a comparison;

determining, based on the comparison, that the second product is the first product;

accepting the second product as a returned product;

updating the modified blockchain based on the returned product, to yield an updated blockchain; and

distributing the updated blockchain to the distributed computing system.

2. The method of claim 1, wherein the supply chain record identifies a serial number of the first product. (1) (0)

3. The method of claim 2, wherein the new block comprises: (0) (4)

4. The method of claim 1, wherein the new block comprises customer information, the customer information comprising: (0) (4)

5. The method of claim 1, wherein the new block comprises purchaser biometric data associated with a purchaser of the first product. (1) (0)

6. The method of claim 5, further comprising: (0) (3)

7. The method of claim 1, wherein the first product and the second product are digital products. (0)

8. A system comprising: (4) (2)

a processor having access to a blockchain database on a distributed computing system; and

a computer-readable storage medium having instructions stored which, when executed by the processor, cause the processor to perform operations comprising: at a first time: identifying a blockchain associated with a first product stored at a retail location, the blockchain containing a supply chain record of the first product from a manufacturer to the retail location;

identifying a sale of the first product;

in response to the sale of the first product, generating a new block for the blockchain, the new block including information regarding the sale;

adding the new block to the blockchain, to yield a modified blockchain; and

distributing the modified blockchain to the distributed computing system;

at a second time: receiving a notification of a second product being returned to the product location;

retrieving the modified blockchain from the distributed computing system;

comparing the second product to the new block, to yield a comparison;

determining, based on the comparison, that the second product is the first product;

accepting the second product as a returned product;

updating the modified blockchain based on the returned product, to yield an updated blockchain; and

distributing the updated blockchain to the distributed computing system.

9. The system of claim 8, wherein the supply chain record identifies a serial number of the first product. (1) (0)

10. The system of claim 9, wherein the new block comprises: (0) (4)

11. The system of claim 8, wherein the new block comprises customer information, the customer information comprising: (0) (4)

12. The system of claim 8, wherein the new block comprises purchaser biometric data associated with a purchaser of the first product. (1) (0)

13. The system of claim 12, the computer-readable storage medium having additional instructions stored which, when executed by the processor, cause the processor to perform operations comprising: (0) (3)

14. The system of claim 8, wherein the first product and the second product are digital products. (0)

15. A non-transitory computer-readable storage medium having instructions stored which, when executed by a computing device having access to a blockchain database on a distributed computing system, cause the computing device to perform operations comprising: (3) (2)

at a first time: identifying a blockchain associated with a first product stored at a retail location, the blockchain containing a supply chain record of the first product from a manufacturer to the retail location;

identifying a sale of the first product;

in response to the sale of the first product, generating a new block for the blockchain, the new block including information regarding the sale;

adding the new block to the blockchain, to yield a modified blockchain; and

distributing the modified blockchain to the distributed computing system;

at a second time: receiving a notification of a second product being returned to the product location;

retrieving the modified blockchain from the distributed computing system;

comparing the second product to the new block, to yield a comparison;

determining, based on the comparison, that the second product is the first product;

accepting the second product as a returned product;

updating the modified blockchain based on the returned product, to yield an updated blockchain; and

distributing the updated blockchain to the distributed computing system.

16. The non-transitory computer-readable storage medium of claim 15, wherein the supply chain record identifies a serial number of the first product. (1) (0)

17. The non-transitory computer-readable storage medium of claim 16, wherein the new block comprises: (0) (4)

18. The non-transitory computer-readable storage medium of claim 15, wherein the new block comprises customer information, the customer information comprising: (0) (4)

19. The non-transitory computer-readable storage medium of claim 15, wherein the new block comprises purchaser biometric data associated with a purchaser of the first product. (1) (0)

20. The non-transitory computer-readable storage medium of claim 19, having additional instructions stored which, when executed by the computing device, cause the computing device to perform operations comprising: (0) (3)

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Application US20190236604

SYSTEM AND METHOD FOR VERIFYING RETAIL RETURNS USING BLOCKCHAIN

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