Nucleus Vision, known as nCash was started in 2014. The idea behind the Nucleus Vision platform is to make shopping easier by using customer’s records to make precise decisions on product preferences utilizing the Internet of Things (IoT) without the use of WiFi or Bluetooth.
The technology is being used by ten retail stores in India at present and also being backed up by relevant companies in the cryptocurrency and goods retail industries.
Tim Draper, who is one of the earliest investors of the Nucleus Vision project and also being involved with companies like Skype and Hotmail, he plans to revolutionize the technology industry again with the Nucleus Vision project.
What’s Special About The Nuclear Vision?
There’s been lots and lots of technologies being launched on daily bases, and it’s much harder than ever to tell which should be invested in. Nevertheless, there’s always a problem every great project solves.
For Nucleus Vision, it tends to entirely change the way merchants interact with customers/clients in physical stores using the Internet of Things technology.
The platform also implements a much quicker and faster way of making financial transactions for a modern retail experience with the nCash token.
What’s Special About The Nuclear Vision?
The process explained in 5 easy steps:
- The ION sensor device is installed at the retailer’s outlet.
- Customers are identified through the sensor within 200 meters to the outlet in which the device is installed.
- A secure orbit layer protects data being transferred between the ION sensor and customer device.
- Real-time details of the customer are shared with outlet upon approval.
- Customers receive recommendations offers and discounts as notifications.
With the Nucleus Vision platform, store owners can set up what is called the ION in their stores. This is a device that’s pretty unique. It’s able to pick up identities of individuals with using unique phone signals when they are approaching, within 200 meters of the device without a need of Bluetooth, wifi, or facial recognition.
As customers shop, data about their shopping experience are provided and recorded in the global ecosystem called the NEURON. Data collected by the ION devices are gathered and can be sold to third parties for specific purposes on the platform. Regarding privacy, each customer chooses whether to share their information or not which they continue with their checkout process – they can remain anonymous if they wish. The advantage of this platform to the customers is they get rewarded in nCash tokens for sharing their shopping experiences. Once the customer is out of 200-meter range to the store, users are being disconnected as the device doesn’t geographically track people.
Unlike many other blockchain inventions for the retail product industry, the Nucleus Vision project has a functional product already and is already seen being used in 10 retail stores at present. Team wish to push publicity and hoping to get 250 of their devices deployed in more stores gathering information from over 250k shoppers by the end of the second quarter. By the end of the year, the target is to have 5,000 active ION devices in retail stores worldwide.
How The Device Interacts With Customers
- The store’s ION sensor device recognizes customers within the preset range.
- The sensor assigns customer ID to the Nucleus ecosystem.
- There is a text sent out; it could also be a notification for smartphone users with an offer for nCash for their data approval.
- Upon approval, customers are credited with preset tokens on their nCash account. The nCash can, in turn, be transferred to any ERC20 compatible wallet.
- Nucleus Vision securely transfers customer shopping personal and shopping data to the blockchain.
- The platform then uses the transferred data to identify related events in future.
- If there’s no prior record of the customer at the retail outlet, shop owners may ask for more data on the network, giving retailers the privilege to view purchases made previously in other stores.
- Lastly, store owners have the option to offer nCash to customers for repeat visits to their store.
ICO Cancellation
The Nucleus Vision team canceled the initial coin offering as for nCash as earlier scheduled. This was due to the price of the Ethereum tokens at the time. To be transparent, they called off the ICO and airdropped to community members.
Though it was an honest decision, it was probably an easy one to take. The Nucleus Vision had already raised over $40 million from early investors, that was before the public presale.
Where And How To Buy The nCash Tokens
nCash has just been listed on the exchanges and has been doing pretty well since its listing.
At the time of writing, nCash can only be purchased on two cryptocurrency exchange platforms; Binance and IDEX.
The only available means to getting some nCash token stashed up, aside visiting the stores already using the technology or getting some nCash token by airdrop is to exchange some bitcoins, ethers, or binance tokens (on the Binance exchange platform) for it.
If you want to know how to trade some Ethers for nCash, read our step-by-step guide on purchasing nCash on Binance Exchange.
The Team Behind Nucleus Vision
Nucleus Vision is headed by the CEO and founder, Abhishek Pitti, is a graduate of Harvard School of Business. There are also other vital members of the team as well, they include Avinash Pitti, who is the CTO, Bryan Lemster, the Lead Blockchain Developer, and Brooks Atwood, the Creative Director.
They also have high investors backing the project like Tim Draper, Darshan Patel, and Sriram Viswanathan.
Technology companies backing the project as well include Intel, Alpha Networks, Radisys, and Vodafone.
Conclusion
With the Nucleus Vision IoT based, contactless identification system, retailers are empowered to serve their customers better and also getting information relating to customer needs. Nucleus bridges the gap between online and offline retail world while leveraging on Ethereums’ blockchain technology.
Being the first device to be implemented in the real world market, and people behind it, it’s sure it’s going to change the retail industry and also be a wakeup call to other projects like this.
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