Influence of AR technology in the Retail Sector

Do you remember the hype and crazy fan base of the game Pokémon Go which took over the news last year?

Hard to forget, right? With 500 million downloads that game was a mega-hit and has seen stars from the dust in no time.

The specialty of the game was Augmented Reality which added a virtual layer over the real-world environment by gamification of the reality. If you happen to be a follower of that game or any other AR apps you can easily tell how amazing your experience was with AR apps.

AR is gaining a lot of attention in the last few years and is set to receive major investment by 2021. Now that the AR market is booming, it will help a big chunk of industries to expand and make millions with AR’s aid.

Retail sector of the economy is always first in the race to adapt to the changing environment. Being at a nascent stage, AR hasn’t been thought upon by the retailers to inculcate in the business. But now they should think about it!

Here are 6 pressing reasons why you should incorporate AR into your retail business:

1. First of all, you can increase the capacity of the store without having to expand the store physically. This can be done by creating an immersive product catalog with an option to preview. With this online retailers can now overcome the disadvantage of not having a brick-and-mortar store. They can simply put the product they offer on their AR apps.

2. With AR, retailers can easily customize the product offering and offer tailored promotions on the basis of personal preferences.

3. AR enables you to quickly change the look and feel of the place and renew the products on display at a nominal cost. This keeps your customer base interested in visiting your store frequently.

4. AR assists in shelf identification and reporting missing items or give a warning for items which are wrongly placed. Also, AR can smoothen up the in-store navigation and assist the shoppers with the shortest route to their desired product. With AR mobile apps, customers can easily come up with their shopping lists and then according to that list set the navigation route through the store.

5. The customer-oriented benefits of AR are many. AR renders customizable UX content that matches user needs. In industries such as apparels, cosmetics, home decor,  and accessories, stores can allow their customers to virtually try on their products or to decorate their living room without actually having to physically buy the products. This feature will help architects, designers, and contractors a lot. As now they will be able to customize the design in real-time as per client’s requirements. For retail store owners, AR can help in increasing sales of the store and reduce the sales that they lost due to pre-purchase indecision.

6. Also, AR helps you to gather more information about your customer base and enables you to offer a more personalized and attractive rewards program.

Thus, AR enhances the shopping experience for customers. It offers new ways for retailers to engage customers and can enhance the value added by the retail landscape overall.

Investment in the AR technology

If we talk about leaders of the economy, they have already invested millions of dollars in the immersive capabilities of augmented reality. Let’s ponder over some of the AR initiatives by tech giants so far:

Google: Google has introduced ARCore for building AR apps on Android platform already.

Apple: Competing with the AR apps on the Android platform, Apple has introduced ARKit as a platform to develop AR apps for iOS devices.

Microsoft: Microsoft, on the other hand, is working on its own AR solutions such as Hololens.

Facebook: Facebook has already paid $2 billion for its AR venture named Oculus.

Following the lead, the startups have reached a $650 million investment in AR  with VividWorks at 1.7 million, Augment at 1.8 million, and Sayduck at 1 million.

Popular product segments that use AR technology

As per a report on the influence of AR on the retail sector, 61% of shoppers prefer to shop at stores that offer AR. The same report has given data on popular products to shop for with AR:

Here is what customers who frequently shop from retail store think of AR:

• 77% of shoppers think that AR will help choose products based on color or style
• 65% of shoppers think that AR will educate them with product information and utility
• 55% of shoppers think AR will make shopping fun

With the above stats, customers are already expecting AR in the retail sector.

Corporates who have implemented AR in their product line

1. Volkswagen

This German car brand utilized AR in print marketing on billboards. It works in a very simple way. The customer just needs to point the VW AR app at the billboard and the new Beetle bursts onto his phone screen.

Fascinating, right?

2. LEGO

This company came with an amazing idea. If you hold a Lego box or their printed catalog in front of a Lego Digital Box kiosk, you can instantly see the product displayed on the monitor. Also, the Lego AR studio brought the Pokemon Go to life, thus changing the way how children play with LEGO.

3. IKEA

IKEA made furniture shopping fun with its AR catalog that allows customers to use their mobile devices to visualize how a piece of furniture will look in their homes. Now, this is what we call a catch!

Other popular brands such as Coca-Cola, Siemens, Starbucks etc have also used AR in their marketing and branding campaigns. Read more about these AR brand campaigns.

Summing up

Retail sector should be on its toes to adopt AR and take advantage of its capabilities. AR is the future of their stores’ online and offline presence.

With betterment in their product-focused campaigns, AR can drive customers to the stores and shop frequently.  It has practically made shopping an enjoyable spree with realistic representations of actual products on the customer’s screen anywhere, anytime.

If you have an idea for an AR application and want to bring it to life, then just drop in a short message with your requirements and we will have our AR experts reach out to you.

IoT in the Logistics Industry

Every business sector or enterprise needs supply chain in its foundation. From a farmer to a manufacturer, organized supply chain is a necessity.

This demand has made third-party supply chain service provider important. However, service seekers still face inefficiencies and face troubles due to invisible procedures.

Thanks to some big players, IoT is now changing the game in the supply chain industry. Better revenue and operational efficiencies have become possible with modern-age tracking.

Here is how IoT can and is influencing the supply chain industry:

1 – Management of fleets

For a large supply chain company, connected fleets are imperative. Every carrier has to stay visible, so that, the company can efficiently manage delivery. Manufacturers need to collect data regarding their delivery trucks, shipment, and other fleets. This data helps in planning product deliveries faster.

Connected fleets make management easier as well. For instance, a company like FedEx has to manage their delivery trucks according to traffic, weather conditions, workers’ availability and other variables. Knowing where your fleets are, makes management easier.

Thanks to cloud platforms, the fleet connection becomes possible. Advanced technologies are being used to analyze weather reports, check traffic conditions and provide an efficient route for the fleets. And operation officials can stay connected with the fleets during the whole route.

2 – Tracking assets

A supply chain manager has to help customers and clients with accurate information. For that, the manager needs accessible information about the location of products in real-time.

The location of the product, shipping container or truck is an important data that changes with every second. With relevant data analytics and cloud software, the manager can monitor who is getting product deliveries and when. The same data helps to know which products are not available in the inventory. Assets become efficiently manageable, which increases the revenue of the company.

3 – Building a stronger vendor relation

Using the asset tracking data, companies can handle their production schedules. But that’s not the only advantage. A company can also leverage asset tracking to build stronger vendor relations. For instance, IBM leverages AI to decipher their suppliers’ needs.

Product quality is the prime requirement of any industry. And if you can incorporate efficient customer experience, revenues can skyrocket in a short span of time. Modern IoT solutions allow a better understanding of what your vendors are looking for and what products are required by customers.

4 – Forecasting production needs

It is time taking for humans to manage inventories. They can’t accurately describe the production or stock requirements. IoT sensors can do that for supply chain inventories. Amazon is using IoT with WiFi robots. They scan codes and track products in the inventory. This way, managers can predict which products are required in the future.

Accurate inventory reports can save from facing deadlines and losing customers altogether. Plus, if a product goes out of stock very often, managers can predict production requirements for the manufacturing department of the company.

IoT does deliver phenomenal value

From management to revenue, IoT technologies are offering new opportunities for the supply chain industry. The efficiency is another advantage that big players are achieving with modern-age technologies.

How Chatbots can help with Customer Service

The road to high sales goes via the street of customer experience. Customers desire a quick and easy solution to their problems. Hence, companies are expected to fulfill this demand.

The rise of chatbots has improved communications between businesses and brands. While customers leverage self-help, businesses can build stronger relationships and increase sales.

Here, in this article, you will find 3 fundamental ways how chatbots are improving customer service.

1. Responding quickly and engaging with customers

Businesses are avoiding delays in responding to customer’s requests. The goal for businesses is to resolve a query immediately. And a live chat assistant helps in achieving that goal. Customers are notified about the chat availability to resolve their queries at any time.

Wells Fargo uses a Facebook chatbot to resolve issues of their customers. Customers get to ask questions regarding credit cards, deposits, transactions and the locations of ATMs.

Similarly, the Bank of America has their own digital assistant. Customers are allowed to choose text or voice messages to ask their queries.

Chatbots use a pre-decide pathway of conversation. However, if the query is not according to the program, they can direct customers to the FAQ section of the platform. So, customers at least get a quick response to their queries.

Engaging customers is also an essential part of customer service. Experts think that chatbots can become operational in brand engagement as well. Engaging consumers allows them to become a customer of your business.

A consumer can learn about a brand or product during a chatbot conversation. Businesses are using chatbot to promote their updated products or new products. Whole Foods is using chatbot to provide upcoming recipes to their customers. A user can select an ingredient emoji and find recipes that include that ingredient.

2. Answering simple questions and reducing customer service cost

Most questions asked by customers are simple. But they all take time, which is why businesses are required to pay their service agents. Chatbots are capable of reducing that cost for good. There is no need for a large team of representatives. A single chatbot is enough to resolve simple queries from hundreds of customers.

Chatbots bring accuracy and cost-effectiveness to customer service. You can program a chatbot with simple questions and their responses. This way, customers get immediate engagement and the business gets to save money.

3. Being available 24/7 for customers

Every business presents customer service with continuous availability. A business that is available 24/7 is more reliable for customers. But with human representatives, you require a vast team to accomplish continuous assistance.

However, chatbots can stay available all the time. They stay active all the time and engage customers. Hence, you can have a small team of support staff and handle a vast group of customers.

Final words

If a customer is unsatisfied with your service, you can sell anything to him or her. In fact, you lose more customers due to bad service. That is when chatbot comes into the picture to improve customer service and enhance your ability to sell products and build a reputation.

UI Design for FinTech Apps

Do you have a wheel swirling Fintech app idea and are wondering how its UI should be like?

You have stumbled upon just the right article as we are here to help.

We sure know that presentation takes a major pondering before launching an app. As an experienced team of mobile app designers, we would love to share our thoughts on ‘What should be kept in mind when UI of Fintech App is on the table’.

First of all, Fintech has emerged as a major industry in the last decade. Its significance can be sensed with the contribution of £6.6bn to the U.K. economy in 2016 and employment to 60000 people and growing. 

The signature products of this industry are digital banking, online trading apps, and e-wallets. Now is a good time for existing financial market players to launch their own app or to redesign their existing apps.

Most of the Fintech apps have either poor or confusing user interface which requires the user to take a pause and understand the app first. Such complexity of Fintech apps defies the basic purpose of having the app, i.e to initiate smooth interactions and hassle-free transactions. 

In this blog, we have created an exclusive list of notes for designers and entrepreneurs to deliver a widely accepted and user-friendly user interface for FinTech Apps.

We also created a video version of the blog to help you quickly glance through the top tips on UI designing for FinTech Mobile Apps.

1. Focus on User Behaviour

As the B. J. Fogg’s Behavioural Model suggests a user should be motivated to use the app.

Q1: Are you solving any problem?

If yes, how quickly and smoothly are you solving it?

The app should be able to solve a persisting user hardship or bring something new to the table like enhancing user convenience.

A best-seller app will be a combination of both. To achieve this, it is essential to study the business first.

It is very crucial to grasp the client’s product basics, knowledge of target audience, and stakeholders. If you can inculcate any tricks of the trade to the mobile Fintech app it will add an edge to the interaction of the application.

2. Simplify information 

The apps which are considered as leading mobile Fintech apps, condense the mass of data to relevancy and are very easy to use.

To make the app interactive and simple, you need to work on page layout, content display, and task flow to begin with.

Other important pointers are to keep the frequently used tasks upfront and easily accessible to the user. Also, transform bulky financial data to graphs, or charts.

Immediate call-to-actions should be placed to help users take the desired actions. Detailed information should be available when asked for.

This practice enhances the user’s confidence in smoothly handling their finances through mobile Fintech apps.

3. Choice of Background

App background is worth consideration as it is directly related to the app efficiency. The target audience should always be kept in mind before picking an app background.

While the light backgrounds are very popular in Fintech apps, dark backgrounds also come with their own set of pros and cons.

Dark backgrounds are great when it comes to presenting graphic content but are not very helpful when the app is operated on mobile devices with poor displays.

4. Font selection

Some recommended fonts are Lato, Roboto Condensed, and Titillium Web

You can always pick another font but ensure that the selected font should fit in compact spaces without affecting the legibility.

Also, check the appearance of individual characters like $. This is necessary because the finance world revolves around numbers and figures and you don’t want to have a leaning dollar sign in your app.

This conveys that the frequently used characters should be tested for flexibility and legibility.

5. Charting Styles

The key is to use simple charting styles which is comprehensive and familiar to the users. The Fintech apps come with various limitations like Frameworks and APIs, so there is not much that can be done with the charting styles.

To make it user-friendly just keep them clear easy to read and understand.

6. Gamification

We shouldn’t take the fun out of an app just because it’s a Fintech app. When you are making UI advancements on the app, it is good to consider gamification.

App gamification increases the user engagement and efficiency. Add colors to your imagination and gamify the app with elements which will not only help users enjoy the transaction journey but also enhance user satisfaction.

At this point, we would also caution you about loud elements that don’t support seriousness involved in financial transactions or things that can be a distraction for the user.

7. Color palette

You remember how they say, ‘take the world and paint it red’.  Don’t!

A color palette is the most crucial thing that can affect the UI of an app.

Fintech apps are for several purposes including banking and stock markets. One needs to keep the data visualization in priority while selecting the color scheme for the app.

In the case of any stock market-related app, red and green colors hold great significance but it is important to keep the rest of background in a light color so that these colors can stand out.

Enhancing data visualization is the key here.

Summing up

Last decade has witnessed some of the revolutionary Fintech apps with a smooth user interface and awesome responsiveness.

Besides the basic app functionalities, the user interface helps the app to stand out from the competitor apps.

However, for Fintech apps, the market is still not ready. Users resist opting for online options of banking or investment because of the risk involved.

Facts have that only 3% of  Indians are actually using the online versions of Finance handling, thus reducing your target audience.

To build user confidence, you need to keep your Fintech app simple and grievances-free because when money is involved user might not give your app a second chance.

Effects of GDPR on Marketing Data

For every business, data is the center of marketing nowadays. The scope of sales and conversions depend on the incorporation of data in marketing activities. That is why every business needs to understand the implications of GDPR on their marketing practices.

GDPR or General Data Protection Regulation is a collection of privacy and data laws for the activities conducted in the digital world. The idea behind GDPR is to bring better governance and transparency in the online world. Companies are required to become responsible in terms of data collection and its use.

Core laws of GDPR

There are 8 major rules that GDPR highlights regarding the use of data and privacy in the digital world:

• Informing transparently about the use of collected personal data.
• Allowing individuals to access their own personal data.
• Allowing the ability to rectify incomplete or inaccurate data.
• Allowing individuals to remove their data whenever seem right.
• Providing the right to restrict the use of collected personal data.
• Allowing individuals to use their own data for personal purposes.
• Providing an option to say “no” to the use of data for marketing purposes.
• Giving individuals a chance to separate themselves from data-based automated processing.

Impact of GDPR on marketing

From B2B to B2C marketing, businesses are required to comply with the regulations of GDPR. No matter if you are based in or out of the EU, it would be wise to comply with these conditions.

Here are all the major marketing elements that will get affected by the laws of data collection, data processing, and data use.

1. Data collection has to be transparent

Using cookies on your website has been an effective marketing practice for a long time. Marketers collect cookies to find out how their consumers think. Similarly, there are many other ways such as email marketing where companies collect data from consumers.

Now, GDPR asks companies to inform and ask for permission before collecting data. In fact, you are required to tell your consumers about how you plan to use that data. You can’t use sign-ups, transactions or account creations as a permission. There has to be clear information to the users about data collection. You need to gain consent from the users in order to collect their data.

This big change is going to change how marketers approach the digital world. You need to communicate in an encouraging way to get consent from your consumers.

2. Processing data for permitted purposes only

It is a necessity that you use the collected data for the permitted purposes only. For instance, you can’t use personal data for email marketing, if the user opted for activity tracking only. There has to be another consent for email marketing.

3. Holding data for a limited period only

As you are allowed to use data for specific purposes, the collected data has to be deleted after it has fulfilled its purpose. If you want to hold on to the data, GDPR requires a legitimate reason for that.

If your business depends on brands and consumer relations, GDPR is an upgrade for your marketing activities.

Flutter in Mobile App Development

Cross-platform app development is not just a buzz anymore. The industry has accepted it as an inherent property required for today’s market. Flutter is one software developer kit helping developers in this direction.

Working as one of the most reliable open sources, Flutter is applicable for both iOS and Android application development. Google has created Flutter with current digital app demands in mind. This SDK has proven to be helpful for online businesses in sectors such as e-commerce, food, and shopping. Flutter allows businesses to create mobile applications with advanced features such as geolocation, camera, storage, network, and much more.

Why is Flutter required in today’s market for App Development?

Flutter is soon gaining traction among developers for its ease in app development. Here are 5 reasons why Flutter is required for App development in today’s market.

1. Vast widget catalog

Using Flutter allows you to access multiple widgets in one catalog. Finding every widget organized in one place makes selection hassle-free. You can decide features and functionalities of your app and conveniently pick widgets. Dart helps you write app code and you can even include IntelliJ plugin to your application.

2. Open source enhances accessibility

Open-source development is another reason why Flutter is needed right now. Easy accessibility decides the success of any app. Which is why open collaboration brings user-friendliness to the table. An app design achieves a whole new level of scope with open source development. There is no other platform where you can find as many choices as in Flutter.

3. Easy app editing

While developing, an app has to go through multiple edits. Some features are added while others a removed. Flutter makes these changes easier. The platform provides Visual Studio code as well as Android Studio code. Using these integrations makes developed product smarter. Different variable types, function definitions and modules are used to create changes. In fact, a developer can also conduct push or pull via SCM service.

4. Dart matches Java features

Flutter gives you Dart that matches with Java in terms of feature similarities. That similarity allows developers to make a shift without any trouble. Editorial integrations, widget quality, and application features come together to make it a perfect kit for mobile app developers.

5. Single codebase for Android and iOS

With Flutter, mobile applications can achieve cross-platform functionality. A single codebase works on Android as well as iOS. So, there is no need to worry about shifting from one platform to the other and write the app from scratch. The app codebase works on both platforms, making your app more secure and protected in terms of patents.

All in all, Flutter is here to improve the standards of mobile app development projects. It is giving superior UI experience to the apps and providing feature addition capacity during an ongoing development project. The compatibility reaches the roof with Flutter, as it comes with customizable widgets.

However, all the benefits of Flutter come down to the expertise of the developers. Your team of mobile developers has to understand this technology and apply themselves completely. Companies that know how to leverage Flutter will lead mobile development to its future.

Hopefully, you feel ready to leverage this mobile development technology to your business advantage.

Blockchain Technology in Gaming Industry

Blockchain technology is more than just finance or cryptocurrency. And the world has started finding out the advantages of this technology now.

If you look at art, energy, agriculture, Blockchain has gained a valuable place in those sectors. The versatility of Blockchain has also made it effective in the gaming industry.

The gaming industry has always been a controversial sector due to some inherent issues. Players feel worried about high fees, unprotected data, fraudulent activities, and hidden odds. However, these problems can be resolved with Blockchain technology. In fact, companies have already started using this technology to build trust among players.

This year’s Game Developers Conference was populated with professionals who were mentioning blockchain and cryptocurrency.

Here are all ways how this technology can resolve problems for the gaming industry:

1. Making payment processing cost-effective

The gaming industry is accessible from all over the world. Though players get a chance to leverage fiat currencies, they are not effective in terms of cost-effectiveness. A player has to pay expensive fees to utilize online gaming.

With Blockchain, gamers can keep their debit or credit cards away. No matter how small a payment is, this technology offers a decentralized method for it. There is no way for a scammer to steal information or manipulate the sector.

2. Minimizing fraudulent activities

The gaming industry suffers the maximum hit of online frauds. Hence, the industry constantly looks for techniques that can save lost revenues.

Blockchain can save billions by eradicating every chance of fraud. Companies such as B2Expand has already started using the crypto economy to reduce fraudulent activities.

3. Storage safety and security

Game items constantly face a security threat from the hackers. Hence, storing data online seems a risk for game companies. But Blockchain encryption has come out to be a sustainable solution.

Data stored with blockchain encryption makes it impossible for hackers to breach. This technology requires correct nodes at a correct time in order to breach. Which is why game items get a double security that saves from breaches.

4. Better control over gaming economy

The government can put bans or regulate the economies of an industry. Harsh regulations give rise to black markets, which is never good for any industry. Gaming companies have been suffering from this problem as well. Game developers are losing their control over the trade. And that harms their ability to gain maximum revenues.

With Blockchain, there is no need to create policies. A developer can collect royalties from every gaming ecosystem on an ongoing basis. Plus, blockchain allows a game developer to begin or stop selling assets without any restriction.

5. Reducing the price of gaming items

High price of gaming items limits the customer base for developers. This is also a reason why gamers look for stolen game items in the digital market. However, Blockchain comes with affordable micro-transaction benefits. This can allow developers to sell their power-ups at cheap prices without losing profits. Moreover, a user can control his expenditure when playing online games.

These pointers make it clear why Blockchain is the next gaming industry disruption. It is visible that Blockchain is the future of a secure and thriving gaming industry.

Importance of Data Cleanups

Cyber attacks have cost millions in lost revenues to companies worldwide. By abiding to clean and consistent cyber hygiene methods you can save yourself from a world of hassle. For companies, it has become mandatory to training employees to maintain cyber hygiene and better the company’s overall defenses against cyber attacks.

Why does data cleanup matter?

Everyone today is connected to the internet. One does not necessarily need to belong to the IT industry to understand basic IT terminologies. But what people who are outside the IT terminology do not understand is the nuances of online cybersecurity. Being unknown to the triviality of it makes them vulnerable to hackers all the more.

Cleaning up after we access the networks we use is mandatory in a world that is so highly digitalized. You just never know when the smallest bit of information that falls into the wrong hands could wreak havoc for you.

What does it mean to do data cleanups?

Cyber hygiene improves cybersecurity and that is an undeniable fact in the IT fraternity. For many organizations out there, this would mean organizing hardware and devices, installing protective software or creating formal frameworks for handling online information without leaving traces behind.

Hackers have it easy when you leave your computers, or any device for that matter, logged in to important websites. These websites could be the ones you visit often like your bank account, your office’s main files, account and balance sheets. Keeping your account logged in without having any security around it leaves you at the risk of hackers to attack and retrieve important information.

What steps to take in data clean-ups?

To stay on your guard and ensure the safety of your data, you can use these simple hacks:

1. Remove files in history/downloads

Cleaning up your data from a device is important. This includes the files you download for whatever purpose such as a soft copy of your important documents. You would not want your device to be hacked into and those important documents reaching wrong hands.

It is similar to using a temporary place to stay. You have to tidy up after leaving and opt to be careful about leaving important stuff behind. This way, you won’t have a tough time to deal with breaches later on.

2. Logging off

Experts suggest that logging off from your accounts or securing them with smart locks is one way to keep hackers at pay. Two-way verification systems ensure that no unwarranted entrant is allowed into your account.

3. Use secure channels to browse the net

Vigilance on your end is to be maintained at all times. You are on the net round the clock. You, therefore, need to be mindful of where you log in. Also, you need to be careful about how secure the sites and their credentials are before you feed in vitally personal information.

To sign off

When it comes to online presence, one’s security is their own hands. Leaving no scope for hackers to move in is what cyber hygiene ensures. By maintaining regular cyber hygiene in the form of data cleanups ensures there is no storage of excess cache and cookies. This leaves malware and hackers zero room to function. This only goes to add to your defenses making your stint against online privacy invasion a formidable one.

Blockchain Technology in Social Media

Though it started as cryptocurrency exchanges, Blockchain has shown promising features in other operations as well. The online world is on the verge of becoming a reliable economy with secure transactions and data.

So, are there any benefits one can derive from using blockchain technology in social media

1. Using Blockchain for news and information verification

At the beginning of this year, Facebook deleted about 583 million fake accounts. These accounts were posting fake news.

Fake information is the biggest problem of social media these days. Anything can get viral and become a truth within hours. In that scenario, if a fake news gets viral, bad situations can occur.

Thankfully, blockchain is capable of resolving this with ledger system. The functions such as personal verification, information verification, and data verification are all possible with blockchain. If you look at the framework offered by oxcert, it showcases how developers can authenticate every information with decentralized applications.

Famous as Dapps, decentralized applications can allow everyone to manage their digital information. This framework leverages authentication to verify IDs, content, and posts. Similarly, blockchain also makes data collection on social media platforms easier.

Social media platforms are heading towards blockchain at a fast pace. Third-party providers are helping platforms to incorporate this technology for verification.

2. Letting users control who sees their data and how much

From the market perspective, social media is a collection of data. If a user doesn’t get control over this, data can reach third parties. Every post, like, or share creates a behavioral profile of the user. This profile is the reason you receive news and ads according to your preference.

However, these informational pieces can also allow third parties to manipulate a user. Hacking personal information and selling it to other parties are the issues that social media sector is facing nowadays.

Blockchain has the capacity to put an end to this activity. There are blockchain applications that allow users to control their data. They can decide who sees their information and how much. Skycoin is a great example of allowing users to manage their information. Every platform requires permissions to access the data, which keeps users’ information secure.

The technology can help users to charge a fee for their information when sharing with advertisers. Hence, one can select the right people to get access to the correct data.

3. Improving crowdfunding on social media

Crowdfunding is helping startups to grow faster. The money is also raised for charities. These activities are taking place on social media platforms as well. And Blockchain is the right direction to make crowdfunding as private, transparent, and faster. Blockchain technology makes investors feel secure and works against money laundering too.

Social networks that are enabled by blockchain make crowdfunding easier for investors. Peers can track contracts, accept payments and verify users without taking any extreme measures.

To conclude

The blockchain is in the middle of disrupting different industries and providing substantial benefits. If incorporated effectively, these benefits can improve the way users look at social media platforms. Data can become secure and users can rely on third-parties. Only time will tell how it all pans out.

How IoT can help to maintain Food Safety Standards

Out of the many sectors of daily life revolutionized by IoT (Internet of Things), the food industry seems to be a sparkling example. This would not come by as much of a surprise considering the vast potential that comes with IoT. Not using the resources provided by IoT would ensure a lag in progress.

How IoT adds value to food production/distribution?

Food industry seems to have benefited largely due to IoT. Considering how globalized the food industry has become, regulating and maintaining food safety standard has become all the more essential. But this is no easy task. The scope of error is always there in every industry. However, in the food industry, the smallest error could lead to life-threatening consequences.

There is an increased demand from consumers, which mean that technological advancements need to be brought into action to meet these demands faster and better. Ensuring high standards of food safety the becomes difficult but just cannot be overlooked.

This is when IoT comes into the picture and makes things better for an industry that aims to keep the world fed.

How IoT elevates the efficacy of food safety standards?

Here is how IoT makes managing and maintaining food safety standards easier:

1 – Tracking and tracing goods

When it comes to any kind of food, its shelf life is of prime importance. When you are able to track and trace goods that go into making your most relished delicacies, you ensure that only the freshest of the goods are used.

This tracking and tracing of goods also enable industries to narrow down on the origins of the goods that come in, thereby ensuring there is no contaminant present in the ingredients used.

2 – Data allows predictions

The best feature that IoT allows is the prediction of the most possible outcomes using the vast amount of data at hand. When you bring terabytes of information regarding suppliers, pest control companies and average shelf life of goods, you can predict accurately the most plausible outcomes.

You can foresee potential pest infestations and allow you to take evasive measures before it happens.

3 – Improving inventory settings

A good inventory is essential in the food industry. Applying the vastness of data that comes with IoT can be used to optimize inventories. IoT is a resourceful tool. It tells you when you would need to order the stock and what would you need to store them efficiently.

This also avoids food wastage as smart inventories would notify the officials about certain thresholds approaching and when restocking would be necessary.

4 – Optimising logistics

Being on time is a mandate when handling foodstuff. IoT optimizes logistics. Timely and safe transportation of ingredients is now a possibility. All this without hampering the quality of its shelf life. This also adds to its cost-efficiency.

5 – Accurate reporting

Keeping a track of all the resources used could be a taxing affair in the food industry. IoT not only makes the environment paperless, but it also makes the whole deal a lot more accurate. You would never miss a track about the resources you use to maintain healthy food standards.

IoT may have its applications across a variety of sectors, but its implications in the food industry have made a possibility of optimizing the production and distribution of food worldwide.