i3 - July/August 2019 - 24

WHAT

BLOCK
CHAIN

HAS IN STORE

BY GARY ARLEN

B

ILLUSTRATIONS BY DANIEL HERTZBERG

lockchain, the distributed ledger technology, is moving beyond cryptocurrencies
and supply chain management. Developers
foresee the secure system as a tool that
will generate significant value within the
retail infrastructure, including customer
loyalty programs, ad placements, speedier payments, theft, fraud reduction and
counterfeit detection.

24

JULY/AUGUST 2019

Today's early-stage optimism is generating
bullish and wildly divergent forecasts for
blockchain's role in retailing: $2.3 billion in
2023 according to one prediction, $2 trillion
globally by 2030 says another prognosticator.
Whatever the scale, there's a growing expectation that blockchain projects at major companies like Walmart, Samsung, FedEx, Whole
Foods and Alibaba are forerunners for the
wider adoption of blockchain throughout the
retail industry. Many forecasters believe that consumer technology dealers
are likely to become early adopters because of the complexity of their products
and transactions, plus the readily identifiable values of the blockchain process
throughout their supply chains and follow-on customer services.
I T I S I N N O VAT I O N



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