Blockchain is relevant for retail

March 27, 2019 | By RetailME Bureau

There is little doubt that Blockchain technology has the potential to revolutionise industries and change the nature of capitalism by bringing more trust, efficiency, transparency and accurate recording to everyday transactions, states PricewaterhouseCoopers (PwC). But before this can happen, challenges must be overcome to allow proof of concept projects to progress to full implementation.

Among the areas that need particular focus are overcoming collaboration and interoperability challenges, the role of governments in enablement and regulation and best practices derived from implementation projects in different countries.

Commenting on the relevance of Blockchain in the retail industry, Oliver Sykes, partner, Digital Trust at PwC Middle East, said, “Blockchain has multiple disruptive use cases in the retail industry. It can provide a platform to facilitate greater integration between influencers and brands. It brings the possibility to enhance customer visibility and trust around the authenticity of products. With local regulation being introduced, customer privacy is high on the agenda for retailers in the Middle East and blockchain can provide solutions for retailers to protect consumer privacy. It can also be used to tokenise customer loyalty systems, potentially increasing the value of ownership and liquidity.”



Previous Article Next Article


UAE gears up to celebrate this year’s National Day celebrations in the 

Continue Reading

November 28, 2021 | By Zubina Ahmed

UAE-based Etisalat Group has signed an agreement with elGrocer, a leading online 

Continue Reading

November 18, 2021 | By RetailME Bureau announced that the 11.11 sale is back once again this year 

Continue Reading

November 8, 2021 | By RetailME Bureau

Abu Dhabi Cooperative Society’s COOP City store is now open in Lake 

Continue Reading

November 3, 2021 | By RetailME Bureau

Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau

UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu 

Continue Reading

June 2, 2021 | By RetailME Bureau

UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

Download Images RetailME Magazine