Blockchain- the technology leader of tomorrow
Blockchain, when utilized to its potential, is an extremely transparent and secure technology. It's easy to associate it with things like bitcoin, but in its essence it's far more powerful. In retail, or supply chains, in general there is a level of authentication and verification that comes especially when building trust and delivering products on time. These can be considered "smart contracts", but in essence it's verification, authentication and quicker transactions for your supply chain itself. This is just one fantastic application of blockchain technology.
In a recent article on Forbes, it states the following: "In addition to holding the terms and specifications of the proposed work, your Smart Contract will also include triggers that unambiguously authenticate when you accomplish certain performance steps as digitally specified 'proof-of-work.'" From placing the order through your manufacturer, following its development, shipping, and validation of correct product delivery, blockchain is the technology that businesses are turning to in order to ensure their product, their offering is top of the line. Even companies such as WalMart, Amazon etc are turning to this technology to help streamline their business and find financial waste with products that were not delivered on time, or in the case of produce, rotting before it hits the store.
For retail-based companies, this can help cut costs long-term and establish higher trust for customers as they know that their transactions are secure, the deliverables are on time and the product is top quality. This comes from trust, but not only trust in the brand but in the technology utilized to the company's best advantage "If you take away only one thing from our time together, it's that some form of digital trust technology will ultimately become ubiquitous. "
In short, blockchain can only help propel business into the next generation of leaders and retail innovators.