New unstaffed convenience stores in South Korea will make use of blockchain-powered ID solutions – after major domestic blockchain firm Coinplug sealed a deal with a retail operator HP Retail and security provider Cubox.
Per iNews24, the firms will make use of Coinplug’s MyKeepin platform, lauched in March this year. The deal will allow customers at Deli In CVS convenience stores to identify themselves using a blockchain-based digital decentralized ID solution (DID) accessible via a scannable QR or barcode on a smartphone app.
Coinplug has been working on a number of uses for its DID solutions, primarily in conjunction with the South Korean government. Seoul has spoken about the increasing need to develop contact-free, industry 4.0-powered business models in all business sectors following the disruption and economic slowdown caused by the coronavirus pandemic.
The firms said that the new move will help launch unstaffed grocery and retail stores in earnest, pointing out that previous attempts to create cashier-free shopping experiences have largely ended in frustration in the country.
Customers at such stores were forced to sign up for access in advance, going through long, off-putting verification protocols and providing credit or debit card details. Security was also a headache, with retailers forced to trawl through or monitor CCTV footage to check on the safety of their systems.
Coinplug stated that weak security and the need to surrender personal information made such stores unpopular – but claimed that its blockchain-powered solution would require no sign-ups, would reduce the risk of personal information leaks and cut down on corporate risk, while also lowering labor costs.
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