Between Initial Coin Offerings, new patents being announced, and new pilots being initiated, seemingly every day, blockchain-related activity is exploding. Here is the latest round up of developments that apply to retail.
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WHY IT MATTERS: Digital Transformation
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Farid Mheir
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While strong growth has returned to the payments industry, disruptive forces will continue to reshape the competitive landscape. A McKinsey & Company article.
Farid Mheir's insight:
Opportunities and challenges for financial institutions and retailers alike. 
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Apple is putting all the pieces together to disrupt mobile payment. Apple unveiled the first large-scale integration of iBeacon, a technology that, when coupled with their fingerprint identification system, may be another building block in building a revolutionary new payment system.
Farid Mheir's insight:
iBeacon technology form Apple is being touted as a way to push localized advertisement. While this is true, payment may actually be the end goal and the most profound disruption. The post rightfully mentions that Apple and Amazon both have on file half a billion credit cards, which would make them very seamless solutions for wallet replacement. All retailers should now consider in their plans ways to support alternate forms of payments, especially ones tied to iPhones and iPads.
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San Francisco startup Coin today announced its first product — a credit card-sized device that digitally stores up to eight credit, debit, gift, or membership cards, and lets you switch between...
Farid Mheir's insight:
Listen to the short video to understand how it works. Sounds quite amazing: one credit card that replaces up to 8. Wow. They do not replace the "chip" cards, only the magnetic strip ones. But it may transform payment... or at least slim down your wallet.
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As I walked up to the register at a Starbucks in lower Manhattan, I took out my smartphone, told the barista I'd like to pay with Square, and then scanned my iPhone and walked out. It was seamless. Easy. And took less time than for the customer in front of me, who fumbled with quarters and had to wait for change when paying for her coffee.
Farid Mheir's insight:
Going digital is difficult and this piece highlights an important fact: being first often means investing more heavily in change management.
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Curated by Farid Mheir
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WHY IT MATTERS: blockchain has a negative aura since the bitcoin debacle but it doesn't change the fact that it represents a a major technology breakthough that should be considered by retailers that face issues in a number of use cases - way beyond payment. For example, product traceability in the food business or personalized coupons represent low hanging fruits that companies are starting to address by providing new solutions that leverage the blockchain.