Blockchain to transform retail as asset tracking revenues soar

Annual revenues from blockchain retail asset tracking will hit $4.5 billion by 2023, according to Juniper Research.

Retailers are opting for different deployment approaches, the company notes. Some (such as Alibaba or JD.com) are launching their own BaaS (Blockchain-as-a-Service) platforms, while others (including Walmart) have opted to partner with specialist providers. Juniper forecasts that the number of retailers using the technology in the US alone will grow by over 7,500% between 2018 and 2023 to reach nearly 15,000 by the end of 2023.

Leading vendors

Juniper assessed 17 blockchain vendors, scoring their level of agility, presence and innovation, on the complexity of their solutions and prospects in the field. It ranked the five leaders in the space as follows:

1. IBM
2. Digital Asset
3. NEM
4. Applied Blockchain
5. R3