This box has just one layer of paper in most places so it uses paper effectively, allowing you to make a large box with given sheet size. In contrast to Common Box, outside is completely smooth, and this box is also much stronger than Common Box. The downside is that the lock of the corners is placed inside rather than outside which takes away some space and may make placing objects inside the box difficult. However, I designed this box with the purpose of using it as a lower part of two-part box sets — to be matched to decorated box lids, and this role it fulfills quite well.
It’s a simple design so I wouldn't be surprised if someone had come up with it before.