Blockchain Identification System Being Trialled By Indian Retail Chain Giant Future Group

Announcements, Blockchain | June 7, 2018 By:

Indian retail chain giant Future Group is collaborating with blockchain firm Nucleus Vision to gain more consumer insight.

The Future Group is a private conglomerate and is known for having a significant prominence in Indian retail and fashion sectors, with popular supermarket chains like Big Bazaar and Food Bazaar, lifestyle stores like Brand Factory, Central etc. Over the last few months, the Future Group saw its stock prices rise with the introduction of their e-commerce offering for groceries. It has also invested over $50 million towards opening 140 fashion retail stores.

“The technology that Nucleus Vision is offering helps us enhance the customer experience we can deliver inside the store,” said Vivek Biyani, the Future Group’s CTO. “It adds a layer of personalization by allowing us to customize offers, promotions, and prices to each consumer that walks into our stores. A platform like this will unify the online and offline customer experience and we’re very happy to partner with Nucleus Vision in this regard.”

Founded in 2014 at Harvard University, Nucleus Vision is a blockchain and Internet of Things (IoT), contactless identification system, using nCash cryptocurrency to enable transactions across the retail ecosystem. Nucleus is an end-to-end technology solution that captures and provides previously un-accessed data to retailers and other ‘brick and mortar’ businesses through its proprietary blockchain and real-time sensor technology. It currently has 19 ‘ION sensors’ deployed in 10 live retail establishments, supporting a valuable data network for unique visitor IDs and corresponding user data.

“Anyone in the global retail industry knows of the Future Group. The brands they own and their traction in the Indian subcontinent are tremendous,” said Nucleus Vision CEO Abhishek Pitti. “For such a retail behemoth to trust our product and vision is a testament to the efforts we have put into Nucleus Vision over the past few years, and we look forward to helping all Future Group companies know their shoppers better.”

In August, Nucleus Vision will be co-hosting the International Blockchain Congress in India. The conference will bring together government officials, industry experts, and technology innovators and will aim to take the Indian blockchain ecosystem forward.