How Knowchain will play a vital important role in “Supermarket integration”.
Knowchain is a 2 layers blockchain that powers decentralized Applications with Smart Contracts and Additional Information of users on-chain.
Know blockchain enriches the transaction on blockchain by adding a second layer that can store “anything” as the information of the senders, the receivers and the transactions, from identifications of parties to the appendix attached into the transactions. The additional information in the second layer help the transaction on Knowchain to be as same as in real world.
The ability to attach information onto Ano Layer allows Knowchain to be used in Supermarket integration. Let looks at how it works! Traditional supermarkets track goods and operations using a complicated system of software. The system is managed by Accounting Department and usually can be edited. For large supermarkets like Walmart, the infrastructure needs to be maintain by a large team and faces many problems related to security. The data can be edited or hacked, causing harm to the integrity of data and the continuous operation of the supermarkets. Blockchain technology can solve the problem of Storing transaction data in a Distributed Ledger. However, blockchains like Bitcoin can not help the supermarkets deeply into their operations. The managers can only see the transaction of the dates like this using Bitcoin as payment infrastructure:
The transactions values, from who and to whom are the data which live on the blockchain forever, but it is very hard to identify the customers information, the goods (products) that customers bought, and the information related to each transaction. With the approach of Knowchain, the managers of supermarkets can see this on Knowchain block explorer:
The information related with transactions will be stored in Ano units on Ano Layer of Knowchain. Every transaction using Knowchain can be enriched like that to give extra points of view for the manager in tracking goods and operations of their supermarkets.
Decentralized Applications can be built to analyze and compile the data from daily transactions and operations to give managers the details. The advantages of Knowchain in this use case are the integrity of data, the trustless system which is independent with people and the additional abilities for data analyzing applications. In future, supermarkets can integrate Knowchain to their operations to reduce the risks and cut the workforce of Finance & Accounting department.
