The retail industry is in crisis, with shoppers flocking to online stores rather than good old fashioned brick and mortar, but a new project using artificial intelligence (AI) and blockchain may help to save stores money on stock problems.
The issue of overstocking and understocking reportedly costs the retail industry around $500 billion per year, but OSA Decentralised will help eliminate this problem by tracking product stock, inventories and orders with blockchain and AI technology.
The platform will also fulfill another promise of blockchain, providing reliable, tamper-proof information on a product’s ingredients and origin.
The white paper reads: “OSA Decentralised is buildin an unprecedented ecosystem that unites various parties which are disconnected today – supply chain members, data providers, data scientists, IT specialists, apps developers, computation power providers, laboratories, regulators and end consumers.
“This powerful combination will spur the development of myriads of B2B and B2C services on decentralised blockchain and smart contracts based platform.”
OSA Decentralised will hold the public presale for its ICO from May 21 to June 21.