Blockchain technology is set to hit retail sector

GURGAON, India - April 17, 2018 - PRLog -- Blockchain is set to go beyond financial services and affect all sectors, especially retail. Blockchain enables a decentralized digital ledger to record information and transactions on a shared online network.

A lot of retailers are seriously considering this emerging sector and are looking into bringing modifications in providing the retail-shopping experience to its consumers.

Tracking products on a decentralized ledger is one of the many alterations that has come into the picture. This is making the counterfeiting and product contamination very hard.

In addition, as the blockchain system is based on decentralization, this will effectively remove third parties, which includes the banks, credit card companies and payment vendors. from the whole shopping experience, including the transaction.

In Australia, this technology will soon enable consumers to scan a product and check the actual journey from farm to store shelf, alongside product quality.

Can the internet of things plus Blockchain revolutionize retail supply chains?

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