Blockchain Set To Disrupt Retail Businesses Around The World
The rise and fall of bitcoins has made blockchain a technology to reckon with. Among other industries, technology is now poised to turn retail upside—providing increased security and transparency to consumers. The process of applying blockchain to retail has already begun and there are some exciting developments taking place in this domain. Optimize logistics cost: Blockchain can facilitate shipment tracking. It will be like downloading a virtual resume to track a product at every stage and creating a record of the handler’s actions, besides monitoring real-time location, temperature, pressure, or other parameters, for safe-keeping. Retailers can control costs by restricting losses and damages as well as by identifying the source of an issue and isolating the products affected for quick containment. This can reduce product recalls and result in an efficient reverse supply chain. Read more at Livemint.
