❝ Nucleus Vision is an end-to-end technology solution that collects and provides real-time consumer data to retailers and other businesses with physical stores through its proprietary blockchain and real-time sensor technology. ❞
Nucleus Vision is an end-to-end technology solution that collects and provides real-time consumer data to retailers and other businesses with physical stores through its proprietary blockchain and real-time sensor technology. Nucleus Vision has used blockchain in combination with Internet-of-Things (IoT) technology to create real-time customer intelligence for brick-and-mortar stores. The solution currently has ION Sensors deployed in 10 live retail establishments that will support a valuable data network for unique visitor IDs and corresponding user data.
nCash is the decentralized cryptocurrency of Nucleus Vision, which is used for various transactions across the Nucleus Vision ecosystem.
How it Works
Once the customer visits a store, his/her phone ID is recognized and sent to Nucleus Vision by an ION sensor. These sensors enable retailers to capture new data about the customers.
Nucleus Vision then sends a notification to the customer offering nCash for opting into the store’s reward program. If the customer opts in, nCash is credited to his or her account.
Customer identification is securely transferred to the retailer over blockchain. Orbit is the blockchain platform of Nucleus Vision over which the customer identities, data and nCash tokens are transacted securely between all involved parties and systems.
New data about the customer is uncovered using retailer’s core system through Nucleus Vision’s blockchain network.
Retailer’s system automatically requests for data about customer’s shopping history from Nucleus Vision’s extended partner ecosystem. An incentive denominated in nCash is provided for the retailers and participants in the network that share information. The requested customer data is shared after approval on the basis of set pre-defined rules.
If the network partner accepts to share the customer data, they further authorize the data exchange from the customer through blockchain before finally sharing it with the retailers. The customers are incentivized with nCash for sharing the data. Customers will also receive a percentage of the nCash each time their data is exchanged on the Nucleus Vision retail network.
A unique score based on customer’s data is generated by Nucleus Vision’ Neuron technology. This score represents the customer’s value to the retailer based on shopping history. The Neuron platform enables retailers to take advantage of time and opportunity when customers are most receptive.
The retailer may offer nCash tokens to the customer in the store on the basis of their score in the following situations:
Upon entering the store (to incentivize-more visits)
Browsing around the store (to incentivize in-store conversion)
At the time of checkout (to increase retention and loyalty)
It works on the principle of Easy Adoption, Simple Execution. This technological solution does not depend on the app, Bluetooth, Wifi, RFID or facial recognition.
The data and information are transmitted over the blockchain and is kept secure. It follows stringent telecom regulations of data access and transmission.
The IoT sensor is easy to install, it is plugged into power outlet and ION will make the store living.
ION network management is hassle-free. It comes with EMS Management Server for FCAP (fault-management, configuration, accounting, performance, and security) functionality.
nCash is a non-mineable ERC20 Ethereum token.
With nCash, Nucleus Vision has created an interoperable loyalty program that enables customers to earn and redeem nCash tokens from retailers in the global Nucleus Vision network.
Abhishek Pitti, CEO & Founder
Avinash Pitti, CTO
Bryan Lemster, Lead Blockchain Developer
Nucleus Vision’s IoT solution enables retail stores to strategise a customer-focused shopping experience that leverages data from both in-person and online channels. Nucleus Vision’s technology is currently being utilized in 10 different retail stores with large expansions scheduled in the coming years.