Deloitte report retail with blockchain technology BCTECH NEWS 

Deloitte Reports, Big Changes are Coming Soon to Retail with Blockchain Solutions

‘Big Four’ auditing firm Deloitte has released a report that reveals that blockchain technology is set to “revolutionise” consumer packaged goods and retail. Deloitte’s Steve Larke stated “Retail and CPG businesses need to act now and plan for future blockchain adoption, or risk being left in the dust.” Deloitte’s own competitor PwC, recently partnered with Vechain on their authenticating IoT blockchain platform, and many companies such as Samsung, are trialling blockchain supply chain solutions.

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Electronics Giant looking into a Samsung Blockchain Supply Chain System

Samsung, the world’s largest producer of smartphones looks to manage its global supply network using blockchain. 2018 would include 488,000 tons of air cargo and one million shipping containers, with aim of cutting costs by up to 20 percent. VP and Blockchain Chief, Song Kwang-Woo said: “Blockchain is a core platform to fuel our digital transformation.” Aiming to be a forerunner in the blockchain technology market, Samsung have already released other blockchain products, including Nexledger for transactions and ‘tagtok’ turning physical objects into blockchain nodes with blockchain IoT specialists Riddle&Code.

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