Indian Retail Giant’s $15 Million Accelerator Backs Consumer Blockchain Development

The operator and parent company of one of India’s largest retail chains is betting big on innovative technologies like blockchain with the launch of a digital lab backed by a $15.5 million accelerator fund.

Future Group, a multi-billion Indian retail conglomerate that operates stores like Big Bazaar – the Indian equivalent of Walmart – has announced the establishment of a new ‘consumer and digital lab’ in India’s tech capital of Bangalore.

The ‘Future CD Lab’ will focus on leveraging new innovative technologies for solutions in the consumer space. Alongside blockchain technology, developments in artificial intelligence, big data analytics, IoT (Internet of Things) and robotics will also be encouraged. The aim is to enhance retail experiences in areas including payments, unique customer identification, and personalized one-on-one customer exchanges. Supply chain automation, supplier engagements, analytics and predictive modeling will also see attention for back-end retail processes.

According to Indian business daily the Economic Times, the lab will host a common space that encourages collaboration between multiple teams, startups and companies working on these technologies. Testing, research and

Read more ... source: CryptoCoinsNews

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