Blockchain technology offers the retail industry the opportunity to accept cryptocurrencies for payment, enabling cross-border payments and micropayments. Several retail companies such as Walmart Inc., Amazon.com Inc., Alibaba Group Holding Limited, and Shopify are leading the way by adopting bitcoin trading.
Blockchain has tremendous potential to streamline transportation and logistics processes that reduce stolen, lost or damaged goods by tracking every step of the product journey with real-time information. Walmart Inc., an American retail multinational, has already adopted blockchain technology to track every piece of pork from China along with detailed information on the product’s origin, processing and storage.
The prominent players in the Global Blockchain in Retail market are IBM Corporation, Microsoft Corporation, SAP SE, Amazon Web Services, Oracle Corporation, Bitfury USA Inc., Cisco Systems Inc., Cegeka, Auxesis Group, Blockpoint Systems, BlockApps, R3, Tata Consultancy Services Limited, Coin Sciences Ltd. and Cognizant. The other players in the market include Coinbase, Bitpay, Blockverify (Venture Proxy Ltd) and Guardtime.
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Global blockchain in the retail market, by type
Global blockchain in the retail market, by platform
• R3 Croda
• Hyperledger fabric
The global blockchain market for retail markets is expected to grow at a significant pace during the forecast period from 2018 to 2024 and the geographic analysis of the user activity monitoring market is located in North America (United States, Canada, Mexico), Europe (United Kingdom, Germany, France). And other Europe), Asia Pacific (China, Japan, India, rest of Asia Pacific) and the rest of the world (Middle East and Africa, South America).
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