Retail
 
Blockchain is not restricted to applications in the BFS industry. It has the potential to reimagine other industries such as Retail wherever there is a transaction that involves transfer of value. Blockchain will enable secure transactions without the need for intermediaries. In the new age of consumerism, Retail consumers expect brands to be more transparent about the goods they purchase. And also with more fraud and fake products entering the market, it becomes more important for companies to have a trusted authentication and authorization mechanism in place. Blockchain technology with its immutable and decentralized nature will help brands to fight fraud and fake goods.   
 
Use cases:
 
Counterfeit Goods 
  • Blockchain solutions can help companies to fight counterfeit goods as Blockchain enables immutability and transparency for the goods being shipped. 
  • Pharmaceuticals, luxury items, diamonds, and electronics  are some of the Industries which will benefit the most from the application of Blockchain technology
 
provenance
  • Immutable record of the ownership, display history, valuation of art, loss control measures and fraud prevention
  • Transparency of information to artists, gallery owners, buyers, insurer and appraiser
  • Quantified risk behavior, increased pricing accuracy
  • Reduced transaction times for quotes, appraisals and claim settlements
Order Fulfilment
  • Automated deaccessioning using Smart Contracts
  • Uniform view across the entire business process -Transparency and real-time updates for all the parties
  • Business process optimisation by reducing complexity 
  • Reduced manual processing driving cost savings
 

 

 

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