Blockchain in Retail - Thematic Research
The blockchain industry is a nascent industry, it is moving beyond the incubation phase, but it is still largely the domain of proof of concept projects and small-scale production deployments. Blockchain solutions require a network of parties to agree to use the network, agree the underlying business processes that will govern the network, and then to integrate their systems with the network. Blockchain allows organizations to transact business with one another without being subject to third-party control. However, this freedom comes at a significant cost.
Blockchain can help retailers to better track the provenance of stock, give them greater control over what they sell, and provide guarantees for food safety. The technology is particularly useful for controlling supply chains since every change to data such as manufacturing dates and locations can be tracked. This can eliminate the use of unreliable suppliers, child labor, and poor quality ingredients.
In addition, some retailers are experimenting with blockchain-based crypto currencies for loyalty schemes, which are more efficient and appealing for customers than traditional points based loyalty cards. By tracking every transaction in detail, customer preferences can be better identified, and correlations drawn by comparing products, basket sizes, store locations, and other details.
2018 will be a torrid year for blockchain technology, as the cost and complexity of implementing blockchain solutions becomes apparent, many of the early blockchain projects will either be quietly shelved in favor of more traditional approaches or they will evolve in a way which reduces their dependence on blockchain technology.
The report Blockchain in Retail - Thematic Research, offers a framework in which to look at Blockchain technology, summarizes the important trends, and identifies the key players.The report also helps in identifying winners and losers based on technology leadership, market position and other factors.
Companies Mentioned: Walmart, Starbucks, Slock.it, ShopJoy, Santander, Ripple, Rakuten, R3, Ping An, Overstock, Nisa, Microsoft, LO3 Energy, JD.com, IBM, Goldman Sachs, Filament, Digital Asset Holdings, Credit China FinTech, Cognizant, Carrefour, BitFury, Axoni, Alibaba, Accenture
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