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Blockchain in Retail: 8 Companies to Watch In 2019

  • 25 January 2019
  • Sam Mire

The retail industry is getting a lot of tech news coverage as rapidly evolving e-commerce giants threaten the established brick-and-mortar players. E-commerce represents a shift in consumer demand, so retailers are becoming more agile to leverage these technologies in keeping their doors open and engaging with their customer base.

The following companies combine e-commerce with brick-and-mortar mindset to explore how the blockchain can change this industry. They make retail more transparent by using distributed ledgers and cryptocurrencies that add a new layer of transparency for transactions throughout the entire supply chain.

We’re still in the very early stages of blockchain in retail, so any use cases not found here can be understood as clear opportunities for investment and growth. Read on if you’re interested in how blockchain might help retail evolve with the next wave of e-commerce innovation.


OpenBazaarOpenBazaar

One of the earliest entrants into the blockchain and crypto in retail movement, OpenBazaar is a platform where users can transact with cryptocurrency for a host of merchandise and services. Their goal is to be a free online marketplace with no platform fees, where users can earn cryptocurrency in exchange for their goods and services.

Date Founded: 2014

Funding Type: Private


ProvenanceProject Provenance

Project Provenance is working to help retailers and manufacturers develop more transparent product journeys for all of their products, to help increase accountability while connecting with environmentally and human rights conscious consumers. Their hope is to combat the practice of “green-washing” by creating more comprehensive, blockchain-powered provenance solutions for retailers.

Date Founded: September 1, 2014

Funding Type: Private


ShopinShopin

Shopin is a decentralized shopper profile built on the blockchain. Their goal is to help retailers gain better consumer insights while protecting consumer data from breaches that currently plague the industry. Their goal is to create a more sustainable retail economy where retailers become stronger by working together and shoppers get rewarded based on the value of their data that they fully own, control, and can share.

Date Founded: September 1, 2017

Funding type: ICO


PaytomatPaytomat

Paytomat is a ready-to-install payment portal solution designed to help retailers accept popular cryptocurrencies. Their site claims the platform is in use by more than 300 merchants – from restaurants to stores, beauty salons, and medical clinics.

Date Founded: 2016

Funding Type: Private


AuthoreonAuthoreon

Authoreon has an optical reader label linked to the blockchain.

Their A-ID Code can help brands to authorize their retail, to fight counterfeits and improve their supply chain management.

Date Founded: March 6, 2017

Funding Type: Private


WalmartWalmart

Walmart is working to quickly adapt to the digital landscape through the adoption of nascent technologies. With the purchase of Jet.com and numerous blockchain pilot projects, Walmart is demonstrating the potential for blockchain in mainstream retail environments. Their most successful pilot to date is a food provenance partnership with IBM.

Date Founded: January 2, 1962

Funding Type: Private


OSAOSA Decentralized

OSA Decentralized is a decentralized marketplace providing AI-driven solutions to retailers, manufacturers, and consumers. They collect fragmented data from across the supply chain and use machine learning to process, analyze, and clean it. Their smart contracts help protect interests of both data providers and consumers, as a unique set of KPIs, product ratings, and rewards are stored on the blockchain to secure them from manipulation.

ICO: July 21, 2018

Funding Type: ICO


AmazonAmazon

The e-commerce giant has announced that they will be offering blockchain as a service options under the AWS banner of “AWS Blockchain Templates”. These templates will offer an easier way to create and deploy secure blockchain networks using popular open source frameworks. These templates enable users to focus on building your blockchain applications instead of spending time and energy on the manual setup of their blockchain network.

Date Founded: July 5, 1994

Funding Type: Private

About Sam Mire

Sam is a Market Research Analyst at Disruptor Daily. He's a trained journalist with experience in the field of disruptive technology. He’s versed in the impact that blockchain technology is having on industries of today, from healthcare to cannabis. He’s written extensively on the individuals and companies shaping the future of tech, working directly with many of them to advance their vision. Sam is known for writing work that brings value to industry professionals and the generally curious – as well as an occasional smile to the face.

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