Retail shifts to blockchain technology?
Reviewing and compile blockchain industry topic, updating market references and research environment.
Today, we are picking up retail and blockchain trend to improve consumer experiences.
Chile’s major retail conglomerate Cencosud, will allow suppliers and consumers to scan and check the provenance of various meat products, with Citizens Reserve subsidiary SUKU, the Silicon Valley-based supply chain company whose founders hail from the Deloitte Blockchain Lab.
The consumer-facing app will feature enterprise-level blockchain backend using J.P. Morgan’s permissioned blockchain platform, Quorum, and available 20 different Wong stores and cover all meat products carrying the SUKU logo.

Blockchain and retail trends will witness huge expectations in next decades, since technology develops to practice. Global Blockchain in Retail Market for blockchain in retail is estimated to reach USD 1.76 billion by 2024 growing at a 78.49% CAGR during the forecast period 2018–2024. It will be used for effective customer experiences and meet their expectations.
JD.com is the forerunner of blockchain technology, developing traceability solution accumulated 1.3 billion pieces of uploaded data. JRJ further claims that it has been used by over 700 brands and managed 60,000 products. JD’s technology is also used for asset-backed securities (ABS) with CITIC bank.
The traceability solution is known as Zhiyi, or Zhizhi, and runs on the underlying JD Chain, which is now open source, besides, it will be used for anti-counterfeit.
Mastercard and Topco, will launch a pilot at participating Food City stores, where seafood products will be traced using blockchain technology providing “a better line of sight into ethical sourcing and environmental compliance” for salmon, cod and shrimp products — with a view to expanding to other items.
Mastercard is trying to push their own practice, begun working with blockchain provider Envisible and Topco, America’s largest retail food group purchasing organization.
Retail service is expected to adopt new technology for future business especially blockchain.
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