Recall that the blockchain is a technology for decentralized storage of data, originally created for operations with cryptocurrency bitcoin. If you use blockchain data cannot be stolen, changed or deleted.
In the case of "M. Video" we are talking about a pilot project that hosted download registry supplies retailer and suppliers, data encryption and verified with the data of "Sberbank Factoring", and record this data on the blockchain. Platform confirms the delivery, if the encrypted data of the participants in the transaction are the same, explained in the "Sberbank".
This use of the blockchain can save time and money of the parties to the transaction, as usual checking of the shipment before the payment takes place through correspondence or telephone conversation, which leads to time-consuming and poses risks of loss of privacy, explained in an interview with the publication financial Director of "M. Video" Ekaterina Sokolova.
Fully deploy the project, the retailer plans to the end of the year. To transfer all of its suppliers on the blockchain-system "M. Video" going in for several months, said operations Director "Sberbank Factoring" Leonid Kultygin.
Recall that in 2016, the scope of application of the blockchain significantly expanded technology, for example, became interested in the world's largest banks, including "Sberbank". So, the "daughter" of Sberbank launched last year, the platform to conduct transactions through the blockchain, and "Alfa-Bank" and S7 Airlines announced the first in Russia transaction of the credit through the blockchain.
Among other applications of the blockchain – the entry of goods to track their origin and point of recall tainted products, as well as the exchange of Internet memes.