Blockchain for Retailers: Producing Real Business Benefits

ACI Worldwide Podcast Series

Blockchain for Retailers: Producing Real Business Benefits

When I read about blockchain, I typically come across three use cases: cross-border payments, security issuance and digital currency.

There are a lot of use cases for blockchain technology, and the business case for each needs to be developed. A lot of companies exist that have a blockchain solution for a problem that does not exist—essentially a hammer searching for a nail. The use cases outlined have common benefits focused on simplifying existing relationships, reducing fraud and improving the speed of commerce. These benefits result in freed up capital and improved cash flow, as well as stronger relationships with both consumers and suppliers. A retailer cannot do this in isolation.

As the saying goes, “it takes a village to raise a child.” In this case, the child is blockchain – young and full of potential. The village is the retail ecosystem: suppliers, consumers and regulatory bodies. Working together, they can harness the potential of blockchain and help it mature into a useful and practical technology, which provides real business benefits.

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