Blockchain + Retail: the Product of the New Era
On April 26, 2018, Waltonchain’s Director of Operations Mr. Ou Zhunjie visited the second session of the Third Conference of Kunming China Store & Franchise Association Members where he gave a lecture titled “Retail Revolution in the Blockchain Era” to the participants who represented top management of the Chinese high-level retail enterprises.
The local economy development has shifted from the high-speed growth stage to the high-quality development stage. This is a critical period when the development methods change, the economic structure is being optimized and the growth power transforms. Being a strong economic power operating in Southwest China, the Association has the support of such famous retail enterprises as IBaiYao Pharmacy, Xinhua Bookstore Chain, GOME Electrical Appliances, Lean Glasses etc. In order to provide entrepreneurs of Kunming with full understanding of the revolutionary changes brought to the retail, logistics, food, insurance and other industries by blockchain and the role of blockchain in the integration of the new retail and the world, the Association invited Waltonchain’s Director of operations Mr. Ou to provide the most recent information on the blockchain world.
Blockchain provides the new retail with the following three technological advantages: optimizes supply chain management, ensures goods origin traceability and consumer identification. Waltonchain takes the lead in the new industry of blockchain and merges blockchain with the Internet of Things. It uses the blockchain technology to connect the circulation data of different commodities of supply chain participants with a blockchain storage system. This data includes place of origin, producers, distributors, retailers, branded businesses and consumers. This way each participant’s information can be found in the blockchain system.
At the conference, the DOO of Waltonchain Mr. Ou shared the revolutionary significance of Waltonchain for the blockchain transformation of the new retail. There are three ways to transform the retail ecosystem: online + offline integration, retail + experience consumption and retail + industrial ecochain. The new retail solution by Waltonchain integrates these three models seamlessly. Relying on the blockchain + IoT technology, Waltonchain enhances customer experience, physical stores and industrial chains, interconnects all the parties and ultimately creates a brand-new retail model.
Mr. Ou stated, “the Internet boom has affected all walks of life to varying degrees, but its influence on the retail industry is the greatest. Blockchain is the inevitable result of adapting to the new retail environment. It is the product of the modern era. The new retail application introduced by Waltonchain will spread rapidly throughout the retail industry.”
The blockchain technology will bring about the greatest changes in data storage and exchange throughout various industries and ultimately create the era of trusted economy. Being the global leader in blockchain + IoT, Waltonchain is committed to the promotion of blockchain technology implementation in the new retail in China. It seeks to create of an authentic, reliable, traceable and transparent business ecosystem with fully shared data. Relying on the blockchain industry, Waltonchain extends the application of the Value Internet of Things to all spheres of economy and society!
