In this week’s episode we’re talking about ‘Blockchain’. But what exactly is it? And what could it mean for online retailers?
Simply put: Blockchain records data in a chronological order. This data is never stored centrally but is distributed across multiple computer networks around the world. And because the database is distributed, no one party can ever make any changes, so it becomes permanent. This makes it ideal for digital currencies such as the famous Bitcoin.
It also creates a permanent record of a product’s journey from supplier to customer, so it can prove origin and authenticity, whilst improving visibility in the supply chain. The list of uses in retail is growing and diversifying, so where will Blockchain take us in the future?
Want to know more about Blockchain? Check out this informative blog: https://blog.brightpearl.com/how-blockchain-technology-will-disrupt-the-world-of-retail
Retail 90 is created by Brightpearl who help retailers automate and save time running their business with retail management software.
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