Nucleus Vision (NCASH) is an incredibly unique blockchain venture, especially compared to other coins that operate within the Internet of Things (IoT). If you’re not familiar with nCash, the cryptocurrency behind the Nucleus Vision network, we’ve explained it pretty well in a previous blog post – it’s a way to combine IoT technology, blockchain technology, and brick-and-mortar retail experiences.
How does Nucleus Vision (NCASH) work?
Retail merchants at brick-and-mortar stores (and, later on, banks, supermarkets, etc. as nCash becomes more widely-used) can set up something called the ION in their stores. ION is a proprietary device that’s unique and impressive – it can pick up and identify individual customer’s unique phone signals when they arrive within 200 meters of the machine (no Bluetooth, WiFi or facial recognition needed).
As customers shop, they provide data about their experience, which is recorded and loaded into a global connected ecosystem called NEURON – which is a deep learning platform. Aggregated data from the ION devices can then even be sold to third parties for nCash tokens as well.
Worried about privacy? Each customer gets to decide on the spot whether they give the store permission to use the data as they continue the checkout process. They can remain anonymous if they’d like. The incentive is that you get loyalty rewards and discounts (in the form of nCash tokens), and all you have to do is share your in-store activity and possibly email address.
Nucleus Vision (NCASH) just signed a big deal with a massive financial network
Earlier today, the team behind Nucleus Vision (NCASH) announced a brand-new relationship with a financial firm that’s backed by Alibaba. It’s called Paytm, and it’s a mobile wallet in India with more than 200 million registered users.
We’re excited to announce a pilot with Paytm, the Alibaba backed, Indian fintech giant. Under this program Nucleus Vision will increase user engagement with Paytm app at the point of sale. Know more : https://t.co/GYjYRMkhre #Fintech #Retail
— Nucleus Vision (@NucleusVision) April 13, 2018
Paytm is used by more than 5 million merchants already as a Point of Sale (PoS) device, which means that nCash has the potential to reach all of those locations – meaning big moves toward mass adoption.
This is how they describe the new relationship:
“This pilot will incentivize user acquisition for Paytm by offering walk-in customers at Nucleus Vision-powered stores incentives and special deals if they download and use Paytm to complete their purchase. Our deep learning capabilities will deliver the most lucrative offers to those customers who are most likely to make a purchase, prompting loyal consumers to adopt Paytm as their preferred method of purchase.”
Sounds like a big piece of news, and we will keep our eyes on what comes from this partnership down the road.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.