The world of retail has become optimally efficient. Customers save money, businesses are profitable, communities have displaced monopolies and duopolies, and citizens have reduced their carbon footprint.
This has created a sustainable and symbiotic relationship between the retail world and our needs and wants.
This is the future of retail, and it have been building it since 2011.
What is Beam
Beam is a global payments acceptance platform for the 21st century with built-in support for smart contracts.
Beam was create to help retail value chain stakeholders become more efficient by engaging with their customers in a direct, meaningful and effective manner.
Beam enables stakeholders across the retail value chain to incentivise desired customer behaviour by defining measurable goals with an attached monetary reward for their achievement.
The Problem That What to Solve
Today, the retail value chain is inefficient. This is because no one truly understands customer needs and wants. Companies you come into digital contact with have fragments of your data in disparate centralised databases.
Each party holds a piece of the puzzle and are unwilling or unable to share it with each other. No one has a complete picture of individual consumer behaviour that dictates demand and supply.
Tech and payment giants monopolise this loophole to reinforce an exploitative product-driven economy. While the technology is available to take the retail value chain to the 21st century, the giants are too powerful to overcome.
How Beam Plan to Deal with This Problem
Deciphering customer needs and wants is the key to informing demand and supply, and there’s really only one source of truth when it comes to customer data - the customers themselves.
We have created the Beam Platform to end the war on data. We are building the future of retail where the customers are the owners of their data. Not only will the data belong to us, we get paid for sharing all or parts of it with whomever we see fit.
Utilising blockchain, the Beam Platform facilitates the exchange of data for value between retail customers and stakeholders. This exchange solves the customer behaviour puzzle by providing the retail value chain with real time access to insights that were previously deemed impossible.
This is the greatest opportunity in the history of retail to eradicate waste and free itself from incumbent intermediaries.
About Mimblewimble
Beam is one confidential cryptocurrency that uses Mimblewimble pprotocol(famously named after the tongue-tying spell from Harry Potter) to automate its algorithms for the purpose of giving individual users to have control over transactional information shared and to whom it is shared with. Mimblewimble also make learners blockchains with fewer transaction details per transaction.
Beam high level of privacy can even cancel transaction values and addresses of both the sender and the receiver. It enables multiple transaction types in a private manner: Time locked, Swap e.t.c.
Issues –Transaction tracking and Privacy?
Blockchains such as Bitcoin has made it possible to track data and narrow down the source to the end of user’s transaction. With the level of upgrades in technology system and networking, of course, it is easy to understand that tracking down transactions won’t be a problem. Even if cryptocurrency appears to be anonymous, careful analysis of how the money has travelled could reveal the user. This is a major concern for users who prioritize their security.
The solution-Beam (based on Mimblewimble)
The concept of Beam based on Mimblewimble is to enable privacy transactions without clogging up the network. With Mimblewimble at it care, Beam can scale to accommodate plenty adoptions while maintaining reasonable block size and allowing full contents over privacy.
More Information
Beam website
Here is a link to the contest https://steemit.com/@originalworks/1125-steem-sponsored-writing-contest-beam
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