Blockchain and Smart Contracts in Retail
1 min to read

Blockchain and Smart Contracts in Retail

Date
10 March 2020

Blockchain has recently celebrated its tenth anniversary, but for many in the retail sector, it is still seen as “something for the future”. However, many retailers and tech companies are actively looking at ways to deploy blockchain technology (and its close relation, smart contracts) in their business. A recent report by the UCL Centre for Blockchain Technologies analysed 105 different projects across the US, EMEA and Asia using blockchain in some form in the supply chain (of which 15% are already in production).

Two of the key use cases that are being widely discussed in the retail sector – and the focus of this article – relate to product provenance and supply chain management. However, retailers are exploring other use cases, from revolutionising loyalty programmes and digitising product warranties to potentially allowing for the development of peer-to-peer marketplaces that could compete with the likes of eBay, Uber or Airbnb.

In this article we provide insight into how is blockchain relevant to the retail sector? what some of the fundamental issues are and other legal issues that need to be considered.

Click here to read more: https://www.twobirds.com/en/news/articles/2020/global/blockchain-and-smart-contracts-in-retail

Originally Published on twobirds.com on 5th March 2020.

Share
Written by
Ian Edwards
Ian Edwards
I'm a partner in our Tech Transactions team in London where I work closely with our clients to implement digital transformation projects.
Related articles
Smart Contracts – Recognising and Addressing the Risks
4 min to read
29 December 2021
Smart Contracts – Recognising and Addressing the Risks
Smart contracts, where some or all of the contractual obligations are defined in and/or performed automatically by a computer program, are expected to have a significant impact on the way business is...
Technology Projects: Managing the Risks of Innovation and Change Part 3: Contract Reset and Dispute Resolution
Technology Projects: Managing the Risks of Innovation and Change Part 3: Contract Reset and Dispute Resolution
Customers in long-term technology projects can find that while they have been working towards their chosen solution a more advanced, cheaper, or simply more desirable technology has become available....
Digital dispute resolution rules to facilitate rapid and cost-effective resolution of disputes involving novel digital technologies
Digital dispute resolution rules to facilitate rapid and cost-effective resolution of disputes involving novel digital technologies
While some saw the development of products using blockchain technology leading to the demise of disputes, the reality is that disputes in the arena of digital technology are increasing in number. Lawtech’s...
Technology Projects: Managing the Risks of Innovation and Change Part 2: During the Life of the Project
Technology Projects: Managing the Risks of Innovation and Change Part 2: During the Life of the Project
Customers in long-term technology projects can find that while they have been working towards their chosen solution a more advanced, cheaper, or simply more desirable technology has become available....
Cookies
We use analytics cookies to help us understand if our website is working well and to learn what content is most useful to visitors. We also use some cookies which are essential to make our website work. You can accept or reject our analytic cookies (including the collection of associated data) and change your mind at any time. Find out more in our Cookie Notice.