Retailers face a myriad of steep macroeconomic challenges, from global competition and the growth of online shopping, to margin pressure. Blockchain – the technology underpinning the Bitcoin cryptocurrency – can help retailers overcome these challenges.
Not sure where or how blockchain might help your business? Here are five questions to ask.
- In what areas would assured, cost-efficient authenticity most increase sales or reduce costs?
- How much could our organization benefit from improved visibility in our supply chain? What areas in particular would benefit the most?
- How much would a tamper-proof digital transaction history drive value to our customers and our supply chain?
- How much could substantial automation of business decisions drive value to our company? (For example, if transactions A and B happen, then transaction C automatically happens.)
- How do we improve our current technological capabilities to take the earliest, and greatest, advantage of blockchain?
Download report How Blockchain Can Help Retailers Fight Fraud, Boost Margins and Build Brands