Experts Insight on Blockchain in Retail

This article is an excerpt from a story originally published in It Is Innovation (i3) magazine, published by the Consumer Technology Association (CTA)®.

Overview Executives involved with retail blockchain systems and those who are monitoring the industry’s progress offer their outlooks on the increasing use of the technology in the retail process.

"The most promising use cases are those involving efficiencies in the B2B space. In those scenarios, a mass merchant has the ability to dictate how its goods will be handled and what underlying tracking and inventory systems will be used."

"A retailer who is determined to use blockchain to drive efficiency and/or track performance of different vendors in the supply chain has the ability to push blockchain into the equation where it would not otherwise happen organically."

 

"We need public policy that will allow blockchain to thrive. Instead of regulating blockchain technology as a whole,it makes more sense to regulate blockchain-enabled functions.

"It’s important for industry to work with policy makers to help them understand future applications of this technology, and to understand what type or regulatory adjustments (if any) need to be made so these applications can be utilized."

 

"Blockchain technology allows us to give retailers access to transparent and verifiable performance indicators. We are monitoring the cost per incremental visit and the conversion rate in real time to optimize the offline performance of campaigns. Our secure and private cryptographic method ensures users than no one will receive any personal information. The reward is a cryptocurrency."

 

Read how blockchain will generate value in retail in "What Blockchain has in Store" in i3 magazine.

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It Is Innovation (i3) magazine, the flagship magazine from the Consumer Technology Association (CTA)®, focuses on innovation in technology, policy and business as well as the entrepreneurs, industry leaders and startups that grow the consumer technology industry.

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