Blockchain for Retailers Producing Real Business Benefits

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Blockchain technology is a leading technology that securely maintains the records of each transaction over a digital platform. Most of the mobile application development companies are using this technology to make their apps more reliable and efficient. Let's understand this technology more closely through given ppt.

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Blockchain for Retailers: Producing Real Business Benefits:

Blockchain for Retailers: Producing Real Business Benefits

What are the blockchain use cases?:

What are the blockchain use cases? The industry has coalesced around four groups of use cases. Within each group, there are many different use cases. Our intent is to describe each use and give a practical example of how this use case has been deployed by a retailer.

Smart Contracts:

Smart Contracts Smart contract code is code that is stored, verified and executed on a blockchain. Smart legal contracts is the use of the smart contract code that can be used as a complement, or substitute, for legal contracts . Use cases include anything from rental cars or apartments, through to complex machine-to-machine transactions involving advanced analytics.

Digital Currency & Fraud Reduction:

Digital Currency & Fraud Reduction Blockchain technology started with Bitcoin and has spawned many imitations . The nature of blockchain technology makes it difficult for actors to create fraudulent entries on the ledger or alter existing entries. Placing the transactions on a blockchain platform will reduce the need for validation and improve the transparency of exchanges, settling funds transfers faster and reducing identity fraud. With every transaction verifiable and recorded on a ledger, there is a significant reduction in fraud .

Record Keeping:

Record Keeping Transparency   It is of increasing importance to consumers. Provenance is a platform that helps brands provide that transparency by tracing the origins and histories of products. Blockchain underpins this transparency, allowing all parties—supplier, manufacturer, retailer and end consumer—to trace a product’s journey . Reducing counterfeit goods Block Verify is a blockchain-based anti-counterfeiting solution for pharmaceuticals, luxury items, diamonds, and electronics. Goods can be certified with blockchain’s digital ledger record, which mean that stolen merchandise can also be more easily recorded.

Record Keeping:

Record Keeping Warranties A growing number of consumer-focused companies are already using Warranteer , a service that moves product warranties from paper onto the cloud via blockchain, keeping them up-to-date and easily transferable. Consumers are able to maintain a virtual warranty wallet, saving retailers and manufacturers administrative work . Supply chain modernization   The company has created a peer-to-peer and completely decentralized network that connects all parties of the international trading supply chain. Connecting all members of a supply chain to the decentralized blockchain allows for a direct exchange of documents between them, solving one of the shipping industry's largest problems.

Securities:

Securities Security issuance can be broken into two components: debt and equity . In terms of debt equity, Overstock is still a pioneer in blockchain technology adoption. The company started a new subsidiary, the T0 platform, which issued the first Overstock cryptocurrency bond. As a result, the SEC granted Overstock approval to issue public equities.

But, Why?:

But, Why ? The use cases outlined have common benefits focused on simplifying existing relationships, reducing fraud and improving the speed of commerce . These benefits result in freed up capital and improved cash flow, as well as stronger relationships with both consumers and suppliers.

Looking for a Blockchain Application Developer Contact Us:

Looking for a Blockchain Application Developer Contact Us https://www.consagous.com/blockchain-services / https://www.consagous.com info@consagous.com

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