Shopin, the platform designed to record universal shopping profiles on the blockchain for use across multiple retailers announced January 11th, 2018, a partnership with iExec to scale their transaction volume to 1 million or more per second. The Shopin ecosystem delivers highly personalized experiences on participating retailers’ websites for product recommendations and rewards, while giving users total control over how, when and where retailers use their consumer data.
Eran Eyal, CEO of New York-based Shopin, said in a statement, “Our partnership shows how innovative companies can power core products and services on Ethereum, use cryptocurrency in their token economies off the Ethereum blockchain, and have those same tokens publicly traded on exchanges. Our partnership with iExec will help us bring retail to the blockchain at massive scale and give shoppers the fastest and most secure way to interact with the brands they love.”
Based in the area of Lyon, France, iExec provides off-chain cloud computing solutions via atomic swaps, allowing Shopin to continue interacting with the Ethereum blockchain while going far beyond the existing threshold of seven to 15 transactions per second. The iExec partnership will also provide the computing power necessary to run the machine learning algorithms that power Shopin’s enhanced customer experience. Shopin will use a federated private blockchain via BigChainDB to store consumer data at a scale not achievable with existing solutions while still being compliant with strict EU regulations governing user data protections.
Gilles Fedak, CEO of iExec, said in a statement, “We brought iExec to market to support efficient blockchain computing solutions. Today we are excited to partner with Shopin, providing the infrastructure the brand needs to help it establish a more sustainable retail economy.”
The strategic partnership comes ahead of Shopin’s plans to announce an initial coin offering (ICO) to further develop their platform in early 2018. More than 700,000 users have signed up for the Shopin service, generating USD 14.7 million for retailers and a 22 percent increase in transactions conversions from product recommendations over consumers not using Shopin, according to the company.
To learn more about Shopin, visit www.shopin.com/.
To learn more about iExec, visit https://iex.ec/.
- KodakCoin ties up with Overstock’s tZERO Security Token Trading Platform - January 23, 2018
- BnkToTheFuture Raises $30M in Presale to Add Security Tokens in 2018 - January 22, 2018
- StormX Adds New EVP of Business Development and User Acquisition Head - January 18, 2018
- Retainly Announces New Retail Partners Including Carrefour Brazil, Aliexpress - January 18, 2018
- Jibrel Network Announces jCash for Regulated, Asset-Backed Smart Contracts - January 17, 2018
- Overstock’s tZERO Announces Polymath to Advise ICO on Securities Law - January 16, 2018
- OriginTrail Launches Presale in ICO for Supply Chain Traceability - January 16, 2018
- Lykke Partners With Bangladesh Government - January 15, 2018
- DASH Joins BitINKA for Latin America Crypto Exchange and Remittance - January 13, 2018
- Shopin, iExec Partner to Enhance Retail Consumer Data Experience - January 12, 2018
- Bitnovo Partnership Brings Dash to 10,000 Spanish Retailers - January 11, 2018
- Crypto Valley Association Releases ICO ‘Code of Conduct’ - January 11, 2018
- Kodak and WENN Digital Announce ICO to Put Photo Licensing on the Blockchain - January 11, 2018
- Gibraltar Exchange Announces ICO for Regulated Token Sale and Exchange Platform - January 10, 2018
- Voatz Raises $2.2M Seed Funding With Overstock’s Medici Ventures - January 9, 2018
- BABB Names New CIO From UK’s Aldermore Bank - January 7, 2018
- OmiseGO CEO Joins Electrify.Asia Advisory Board - January 4, 2018
- Crypterium ICO Reports 50,000 Participants - January 4, 2018
- Proof of Steak: BeefCoin Wants More Organic Meat in Moscow - January 3, 2018
- Pundi X Announces Point-of-Sale Hardware Ahead of ICO - January 3, 2018
- SyncFab Supply Chain Token Presale Launches - January 3, 2018
- WINGS Launches Beta Testnet for Crowdsourcing ICO Evaluation - January 3, 2018