Nucleus Vision (nCASH) – As companies and governments are becoming familiar with the blockchain technology, the cryptocurrency market begins to progress. While the value of Bitcoin has nearly halved since its January all time high, it is important to remember that in January 2017, one Bitcoin was worth $900. Both retailers and consumers benefit from transactions that use cryptocurrencies, whereas credit cards can take up to 3% in processing fees. Nucleus Vision sets up a new way for retailers to offer loyalty point s or a cryptocurrency through blockchain technology. Rewards could be paid out to customers for browsing for more than a couple minutes or just walking into a shop. Nucleus Vision uses deep customer insight, along with proprietary blockchain systems, to help identify when a customer walks into a store and provide retailers with their buying intent. Previous purchase history and personalized artificial intelligence also help suggest insight. This will have a huge impact on retail space by delivering exciting new ways for retailers and customers to engage.
India has leveraged the blockchain technology to create decentralized applications and citizen serving programs for the government. States like Karnataka, Andhra Pradesh, Kerala, Telangana and Maharashtra are either working on the pilot projects or are in the process of developing PoCs for e-governance, based on blockchain. However, The Government of Assam is the first government in India to do so in a bid to make government data more transparent, working with blockchain-based startup from Harvard University, Nucleus Vision.
Government security programs require high security as we know – not only this, but data integrity and ongoing interaction with different systems. Now that India has implemented the Nucleus Vision Protocol, their governance-oriented blockchain apps provide great flexibility and customization for the Indian government – and that is ensured.
CEO of Nucleus Vision, Abhishek Pitti says, “The beautiful state of Assam is home to more than 35 million people and the government’s initiative to employ blockchain apps in their governance processes will do their citizens a whole lot of good. I commend the state government of Assam on this leap forward and we look forward working with them on our journey of making India a blockchain powerhouse.” The Nucleus Vision blockchain protocol will enable the government to create flexible and customized DApps.
K.K. Dwivedi, IAS, the state’s Commissioner, Industries & Commerce Department & Managing Director, AIDC said, “Technology over the last few decades has caused so much positive disruption in the market and those who embraced it at the right time are reaping the benefits today. With blockchain, we are presented with such an opportunity and we look forward to bringing a positive impact to the people of Assam. Furthermore, we have found a great partner in the Nucleus Vision team and this partnership is a step towards stamping India’s authority as a blockchain powerhouse.”
Nucleus Vision (nCASH) Chart; source: coinmarketcap.com
As of now, Nucleus Vision (nCASH) is one of the cheapest coins listed on popular exchange, Binance, trading at $0.03. Once these retail advancements manifest in the real world and people start to catch on, it is safe to say that this currency will become major. Nucleus Vision’s solution is currently deployed in 10 live retail establishments in India and already backed by some of the largest players in the cryptocurrency and retail space – the venture capital legend Tim Draper was one of the earliest investors of Nucleus Vision. Draper is a renowned tech billionaire who recently publicly stated that Bitcoin is the most secure place to put your money. He has been a big advocate of cryptocurrencies for quite some time, predicting that Bitcoin would hit $10,000 in 3 years… That was 3 years ago when bitcoin was trading at $300. With companies like Skype and Hotmail already under his belt, Draper plans to revolutionize the tech industry again with Nucleus Vision. Draper has recently stated that blockchain is bigger than the internet.
If this doesn’t get investors excited i don’t know what else would. Rarely do we see a token with a use case such as this and with such a big co-sign by a venture capitalist. Once implemented in stores, adoption by more people will follow. This is one of the only cryptocurrencies with an actual use case being displayed.
“When the customer walks into a retail store, the retailer rewards the customer for visiting their store. The retailer credits nCASH tokens to the customer’s nCASH wallet. When the customer makes a purchase at the retail counter, they receive loyalty points in the form of nCASH tokens for that purchase. The retailer requests information from the customer (such as shopping preferences or their email address). The customer has the choice to authorize or deny the request. If they authorize the data request, the retailer receives that information and then the customer is rewarded with nCASH tokens from the retailer. Retailers reward other data providers for exchanging information about their in-store customers. “