Sales began yesterday (6th June 2018) in Japan for Fujitsu’s newly developed blockchain solution for retail customers. Read the full announcement on the Fujitsu website.
Fujitsu moving at full speed toward a blockchain future
The platform they’ve developed is called the Fujitsu Intelligent Society Solution Blockchain Asset Service, a cloud service that provides retail mechanisms ‘such as digital points, stamps and coupons, which can be used for a limited time in specified areas including tourist sites, markets, and shopping centres, using blockchain technology.’
The move is a win win for both retailers and shoppers. Shoppers are rewarded by shopping in certain stores and locations, while the retailer benefits from the data collected, better informing them of individual shopping habits which can then be linked and stored securely on the blockchain for analysis.
By connecting events and promotions held in tourist areas or shopping centres with this service, users (customers) can improve the rate at which they attract customers and increase their willingness to buy. At the same time, they can also more effectively set strategies for regional revitalization, based on the activity patterns of users seen in the analysis results, and on such factors as the use of the coupons and other benefits.
Rewarding customers for shopping has been used to boost sales for centuries. Collecting, storing and using mass data about individual shoppers habits however has only been possible since the advent of the internet.
How will blockchain make the model more efficient?
The service will allow retailers to build a complex web of information about any individual. Because the blockchain solution will integrate with numerous websites or apps, operating in the background, a more detailed user profile can be created. The internet spawned a new generation in user data collection, but the data was restricted to individual companies databases.
By analysing the spending and shopping habits of customers and cross examining them with user information such as sex, age and gender, Fujitsu will be better equipped to market the right products toward to appropriate audiences.
They said ‘Transaction information about how users take advantage of digital points recorded on the distributed ledger of a blockchain is linked with user data, limited to information such as age and sex that do not identify individuals, which is collected through login connection functionality. This linkage enables a detailed analysis of user interests and activities, which can be used to attract customers and set sales strategy going forward.’
Fujitsu blockchain solution cost to retailer
The service is being sold at 1.5 Million JPY per month, which works out around $13,600 USD per month. They’re aiming to secure 100 paying retail customers by the end of the 2020 fiscal year (March).
Other Fujitsu blockchain developments
Fujitsu are a company very involved with the blockchain world. We reported recently that Fujitsu are working closely with the distributed ledger platform IOTA. They recently performed a live demonstration of IOTA at the world’s leading trade show for industry technology, the Hannover Messe in Germany.
It’s unclear at this stage whether Fujitsu have developed their own custom build blockchain for the service to run on, or whether they’re using an already existing distributed ledger such as that of Ethereum or IOTA.