Blockchain Can 'Revolutionize' Retail, Deloitte Says

Deloitte's new report says that distributed registry technology can eliminate four major "bottlenecks" of supply chains in retail and consumer goods
29 May 2018   348

The technology of blockchain will become an important tool for retail and consumer goods, its "potential impact is enormous." This is stated in the report of the audit firm Deloitte.

According to the New Tech On The Block report, in which the firm's experts analyzed 50 potential cases of using a distributed ledger, the blockchain will become "standard operating technology in the financial, manufacturing and consumer industries."

The next five years will be a "turning point", when the business will begin to understand the potential of the blockchain, are convinced in Deloitte. The report also emphasizes that business should assess whether their strategic goals justify investing in blockchain, and those who will not consider new opportunities "run the risk of falling behind."

The report focuses on justifying the added value that blockchain system systems can create, from the point of view of the consumer, logistics, payments and contracts.

It is crucial for decision makers to understand which areas of the value chain will benefit most from the new technology, and how easy it is to implement.

Deloitte's Report

The report cites data from the research firm Gartner, which estimates that the added value of implementing blockchain in the supply chain could grow to $ 176 billion by 2025 and exceed $ 3.1 trillion by 2030.

The Deloitte report emphasizes that distributed registry technology can eliminate four major "bottlenecks" of supply chains in retail and consumer goods: traceability, compliance, stakeholder management and flexibility.

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   120

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.