Deloitte: blockchain technology could revolutionize retail

One of the largest accounting firms Deloitte argues that integration of the blockchain in the retail trade and industry of consumer goods (CPG) could revolutionize the industry.

This conclusion experts of the company made in the report entitled New tech on the block. In it they reviewed the 50 use of the blockchain in both industries according to three General categories of business — to-consumer, supply chain, payments and contracts. They also calculated the payoff for the added value according to the criteria of Deloitte.

The study identified four areas in retail and CPG, where the blockchain has the potential smoothing pain points of industries. In the short term, the greatest potential for using DLT-technology for tracking supply chains. In addition, the blockchain can improve compliance management, flexibility and relationship management with stakeholders, experts noted Deloitte.

“For decision makers, it is important to understand which areas of the value chain will benefit most from new technologies and how easy to implement”, — said the partner in technology consulting at Deloitte Steve Clark (Steve Larke).

The researchers came to the conclusion that companies in both industries have to quickly implement a blockchain to keep up with competitors. However, it is necessary to assess the areas in which new technology can bring the greatest benefit, before investing in it, said experts of Deloitte.

We will remind that earlier the company conducted a survey of representatives of companies operating in the financial, technology and medical fields. According to the results, 43% of respondents cited critical for their companies, the introduction of blockchain technology.

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