How blockchain will revolutionize retail as we know it
I had the pleasure to speak at Retail Week Tech 2018 conference on Blockchain in Retail.
My session was on a very cool stage with plenty of retro CRT TV sets behind and some 80’s style graphics on them. All very relevant to the pace of change of technology.
The session starts with the current world – the Internet of Transactions which I believe will become the Internet of Value aka Blockchain technology
I talk about the current players and how these could change when Blockchain technology takes over:
*A verified ledger of web page links could become a powerful alternative to search
*A private ledger of our individual social media postings and friends could become an alternative to using Facebook
*A public ledger of physical inventory could become an alternative to Amazon’s warehouses
*A public ledger of our career profiles and connections could replicate LinkedIn
I then talk about What is Blockchain and the five key properties of Blockchain:
- Near real-time updates
- Cryptographic proof of trust replaces intermediaries
- Shared & transparent data access
- Validated transactions
- Tamper-evident transaction history
I use a couple of examples where Blockchain can add significant value – the one here is the shipping industry.
There are over 30 documents needed in a shipment and most of these are paper-based
No wonder the entire shipping world is looking at Blockchain technology seriously
After my talk I was approached by a couple of representatives from a global shipping giant, and had a great discussion with them.
Finally, and the important sections, I discuss the main Retail Value chain use cases – we have 16 at the moment. I end with a number of Oracle’s current Blockchain projects with global clients around the world
And of course – The Retail Handbook is always at my sessions 🙂
