I am very excited about this project and was fortunate enough to make it on the white list. The potential for this technology is massive. Please read to the bottom for my description.
- What does Nucleus Vision do?
Nucleus Vision is an end-to-end technology solution that captures and provides previously inaccessible data to retailers and other ‘brick-and-mortar’ businesses through its proprietary blockchain and real-time sensor technology.
Founded at Harvard University, Nucleus Vision is an IoT-based, contactless identification system that empowers retailers to identify and better serve their customers
So here is my overall explanation of why I think this is going to be such a big hit:
You probably already understand the core concept up it and if you don't please watch the video above, retailers use the technology to track user data i.e. past purchases, clothing size, food preferences, etc. (the same thing google and Facebook do) so when they walk into the store, the retailers are given their customers information and customers are rewarded with tokens they can redeem in the store for discounts.
User data is like gold in marketing, companies pay millions of dollars to understand their customers and right now you are giving away that information for free while companies like Facebook sell it off.
It is the basis of Google ad words, Facebook ads, etc. Right now, there are only a few methods retailers track data (that I know of) and that is by having people sign on to their store wifi (which is why you always have to agree to a disclaimer when you do so), or some of the bigger companies use facial recognition software and SMS geolocation technology…so when you walk by a Nike store, you get a text saying “get 25% off using this text” when you walk by the retail store. But with nucleus, users pre authorize which companies can track their data and instead of a third party taking the data from you and selling it to the retailer, you can directly give it to the retailer in exchange for their tokens. Your cutting out the middle man making millions off you (just like cryptos cutting out the middle man).
This technology will also cost pennies for retailers compared to using say facial recognition software.
I would love to hear any opinions of this!
Thanks for the write up, I am also very excited about this!