Top Retailers Adopting Blockchain in Business Operations

Asia Blockchain Review
May 22, 2019

Globally, retailers are developing their own blockchain solutions to address specific business needs, from microgrid management to logistics operations, according to Yahoo! Finance. These are some of the major players and their forays into the distributed ledger technology.

JD.com

The Chinese e-commerce company has introduced JD Chain, a blockchain framework that allows businesses to leverage pre-built APIs. With JD Chain, firms can design their own blockchain solutions to address their specific needs. According to Xinlei Zhai, Head of Blockchain at JD.com, “[…] we are empowering enterprises to leverage the vast technological resources at our disposal to develop their own blockchain solutions, creating greater security, efficiency and trasparency across all of their operations.”

Ikea

The Swedish furniture behemoth’s R&D laboratory, Space10, has partnered with blockchain developers Bloc and Blocktech and architects SachsNottveit in the SolarVille project to design a microgrid to produce clean energy that will let users harvest and control their own electricity supply on a blockchain-powered platform.

Rakuten

The Japanese retailer has announced that it will launch its cryptocurrency exchange, Rakuten Wallet (formerly Everybody’s Bitcoin), which it acquired in 2018 for 265 million yen. Rakuten said, “We expect that the role of cryptocurrency-based payments in e-commerce, offline retail and in P2P payments will grow in the future […] we believe it is necessary for us to provide a cryptocurrency exchange function.”

Albertsons Companies

The food and drugs chain has partnered with IBM’s Food Trust blockchain platform with the aim of tracing its food origins throughout its distribution network. Food Trust, launched in late 2018, now has 80 corporate clients tracking over five million food products on its blockchain platform.

Source: finance.yahoo.com


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