i3 - July/August 2019 - 27
successful blockchain implementation, more use
cases are emerging. One big splash this spring was the
announcement that several major retailers including
Crate & Barrel, Nordstrom and Whole Foods Market
(owned by Amazon), will accept bitcoin and three
other types of cryptocurrency. The project has the
credibility of backing from Gemini Trust Company,
which is in turn backed by the Winklevoss twins, the
high-profile high-tech venture capitalists.
The digital currency plan is based on tying payments to the digital scanners that retailers use to
accept phone-based payments from mobile apps
and digital wallets, such as Apple Pay. Flexa, a startup global network that unites retail and blockchain
technologies, actually coordinates the rollout,
which also includes GameStop, Regal Cinemas and
Baskin-Robbins. It is working with merchants to
configure their scanners to recognize payments
from its cryptocurrency app.
Experts agree that it is still early in the blockchain/
retail relationship. But they also point to the increasing exploration of new ways to make blockchain part
of the consumer experience. For example, Comcast
Ventures has invested in several projects that touch
its multiple entertainment outlets. Even Subway, the
sandwich shops, are implementing blockchain for
"traceability" - a way to keep track of everything that
comes to and goes out of its shops.
Fundamentally, the retail pioneers working with
blockchain agree it's all about data integrity and
security. Or, as some pundits put it: blockchain
closes the "trust gap" that has made customers leery
in the changing retail environment.
I N R E TA I L
Yves Benchimol
RO U G H LY W H AT L E V E L O F
I N V E ST M E N T D O U.S. C O M PA N I E S P L A N
TO M A K E I N B LO C KC H A I N FO R 20 19 ?
$1 million $5 million:
16%
CEO and Co-founder
Universal Reward Protocol (France)
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."
Less than
$500,000:
23%
$10 million
or more:
13%
$5 million $10 million:
12%
No
Investment:
16%
$500,000
- $1 million:
20%
Source: Breaking Blockchain Open: Deloitte's 2018 Global Blockchain Survey
C TA . t e c h / i 3
JULY/AUGUST 2019
27
https://cta.tech/News/i3.aspx
i3 - July/August 2019
Table of Contents for the Digital Edition of i3 - July/August 2019
Contents
i3 - July/August 2019 - Cover1
i3 - July/August 2019 - Cover2
i3 - July/August 2019 - Contents
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