As the blockchain is changing the retail sale of three real examples

Capitalization blockchain economy by 2020 will increase to 3.1 trillion dollars, estimated by analysts at Gartner. And all thanks to the business in 2017, companies worldwide spent on introduction of technology of 945 million dollars, and in the next two years, their costs will rise to 81.2 per cent annually.

Solutions based on a distributed registry will affect different sectors of the economy, from industry to agriculture. One of the contenders for the changes retail. The blockchain will enable retailers to achieve the trust of customers, to track the supply chain of products and to improve the loyalty program. Tell how technology will affect the sale and purchase of goods.

Blockchain raises confidence

One of the important issues faced by retailers — consumer confidence. In the period of growing interest in organic or local products to the client, it is important to know where and how the product is produced. However, to provide reliable information about the product is not as easy as it seems. The manufacturer may not indicate the individual components in the composition, to fake information about the place of manufacture or the expiration date.

To follow the life cycle of the product will enable a distributed registry — producers under contract with the seller will record in the blockchain data on place of production of the product and its composition. At each stage of the delivery, the mediator will be able to make the registry data confirming the freshness and quality of the product.

The information is loaded in the register only once, to alter or tamper it. This will allow customers to obtain reliable data about the product, and retailers — to break off relations with the counterparty, which made the breach in the supply, produced a low-quality product or misinformed consumers.

The solution in this region has developed a startup Provenance. The company introduces the blockchain in the supply chain of supermarkets. Using the service, consumers will be able to find out that they bought a sweater made from the wool of sheep, which are treated humanely, and the fish caught in the sea and not farm raised.

On the problem of using a distributed registry is running and the largest U.S. retail retailer Walmart. The company puts on the products chips that track location, temperature and humidity of the parcel. Technology will allow us to deliver perishable foods fresh and eliminate counterfeit.

Tokens instead of bonuses

Another application of the blockchain — loyalty program. Companies can use the technology to issue their own cryptocurrency, which is tied to financial performance and is issued to regular customers for certain services. Tokens can be spent on the products of the company or its affiliates. For consumers, the value of the tokens higher than the traditional balls because of the liquidity and potential growth of their value.

In the beginning of the year own tokens produced farm cooperative LavkaLavka Boris Akimov. Buyers will receive coins BIOCON for each purchase, they can spend on goods of the company or institution partners. During the ICO, which was completed in February, the cooperative has attracted $ 16 million.

Own cryptocurrency is, and the Russian branch of the network of fast food Burger King. Peppercoin operates on the blockchain-platform Wave and is charged to customers for the purchase of a whopper.

How to use a blockchain to trade

A promising direction for implementation of blockchain — warranty service of the goods. Customers often lose paper, but the service centers have to spend time restoring documents.

Warranteer startup has developed a blockchain service that at the time of purchase of the product warranty writes the data to the cloud and not on paper. The client may check, contacts, service centers and other details in a mobile application. The company believes that the decision will increase customer loyalty and reduce the cost of the seller.

Governments and businesses often oppose cryptocurrency, however, the technology of the blockchain, stays away from harsh criticism. Perhaps this advantage will allow the technology to evolve separately from the digital money will change the world sooner than it does the crypt.

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