How Blockchain Continues to Permeate Retail

DAN BOWMAN | November 29, 2018

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According to a report published in January by the IBM Institute for Business Value, of 203 consumer industry executives surveyed, 70 percent expect to have a blockchain production network within three years; 18 percent of respondents say they’re already taking advantage of the technology.For instance, one company among that 18 percent — Brooklyn, N.Y.-based sneaker manufacturer Greats currently uses blockchain and embedded smart tags to combat counterfeiting.“With the swipe of a mobile app, consumers can scan the smart tag and verify the product is genuine,” the report notes. “Retailers can track each sneaker back to the factory in which it was made.”The report also points out that blockchain technology can help streamline the settlement process between suppliers and retailers by enabling smart contracts to “automatically reconcile settlement claims against contracts and proofs of performance.”

Spotlight

Scotts and Co.

Scotts and Co. is a multi-channel retail business including the brands “Scotts of Stow”, “The Original Gift Company” and “Bloom”; the business largely trades with its customers through mail order supported by three flagship retail outlets based in Stow-on-the-Wold and an increasingly successful web business.

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Spotlight

Scotts and Co.

Scotts and Co. is a multi-channel retail business including the brands “Scotts of Stow”, “The Original Gift Company” and “Bloom”; the business largely trades with its customers through mail order supported by three flagship retail outlets based in Stow-on-the-Wold and an increasingly successful web business.

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