Ushering the Retail Revolution
Estimated time to read: 6 minutes
Nucleus Vision have masterfully marketed their brand. With renowned investors numbering among Tim Draper and populist Ian Balina, making the choice to cancel their public sale and instead airdrop tokens, and already having launched onto Binance, Nucleus Vision are proving that in this oversaturated market there are still ways to stand out from the crowd.
Having allegedly developed otherworldly technology—which in some cases is still in sore need of validation—Nucleus Vision is intent on building an Internet of Things enabled customer identification ecosystem, with a preliminary focus on brick-and-mortar (physical outlet) retailers. From there on, the team has even greater ambitions.
nCash tokens can make your everyday #shopping much more delightful. Here we’ve put together a video that explains how nCash moves through the #NucleusVision ecosystem to help create a connected retail experience https://t.co/h6ocwWqval #Retail— Nucleus Vision (@NucleusVision) March 5, 2018
While the Nucleus Vision project stretches into many sectors, the immediate roadmap and focus of the project is on revolutionising the in-person retail experience. In short, the project does so by creating automated solutions for businesses to win customer engagement, trust, and loyalty.
Under the Nucleus Vision system, potential customers start engaging with the network when coming within proximity of the ION sensor—a tracking and data-retention technology unique unto itself, meaning there is no set requirement for RFID tags, WiFi, GPS, Bluetooth, or downloading an app. Using this technology, potential customers who enter partnered retail outlets are rewarded in nCash—the ERC20 token facilitating the economy—and can elect to share data in a secure way with the outlet. Employees at the store are provided with information on customer spending habits, preferences, and other data to assist with in-store conversions. At the discretion of the retailer, the customer may also be awarded nCash for browsing and purchasing as incentives and loyalty schemes. If customer hasn’t engaged with the Nucleus Vision network before, a request will be sent upon entering the store to share the customer’s data across the network—again to be compensated with by tokens. The intention is that data stored on the Nucleus Vision database will enrich the custom shopping experience by curating suggestions from previous engagement with brands, time spent browsing, frequency of visits to retailers and even the most regular pathways a person might take in shopping malls, which can then be shared with other retailers across the blockchain.
Image sourced from Nucleus Vision's promotional video.
However, this could also be viewed as a roadblock in terms of adoption, where the ION sensor’s wide ambit of data collection might be unpalatable to prospective users. Data retention and geographical tracking is not just a feature, but the system's essence. While the actual data stored may be completely secure, this is a degree of invasiveness that the ordinary person may become uncomfortable with, and it is this inherent human desire for privacy that the Nucleus Vision team will need to become experts in combatting.
In summary, the net benefits of Nucleus Vision's approach to retail include:
- A variety of store nCash rewards, discounts or loyalty points for customers, which can be from walking into the store or making purchases.
- An enhanced customer experience with personalised recommendations which appeal to the customer and increase store turnover.
- Assured data security while the personal information is exchanged between the retailer and customer.
- Convenience in a variety of ways, such as alerts to store sales or new stocks, and being apart of a single global loyalty program that can be exchanged to fiat currencies.
It should be noted that while majority of Nucleus Vision’s marketing and Whitepaper are dedicated to outlining the technology and implementation in the retail industry, this project has its eyes set on bigger, more lofty, prizes. Stage 2 tackles physical security concerns by launching IoT sensors to identify intruders with blockchain-based identification systems, an example given being schools employing the Nucleus Vision monitoring system to be alerted of registered Sex Offenders who wander near off-limit premises. Stage 3 is more whimsical, aiming to “connect the world through an ecosystem of interconnect IoT devices”, through a list of potential outlets: Home, cars, health, city, agriculture and air. Supposedly, “assembly” has already begun, however investors (and Nucleus Vision) shouldn’t get too far ahead of themselves—at this stage Nucleus Vision is first and foremost a fancy retail solution.
Our rating: ★★★★☆
There is a diverse range of technology backing Nucleus Vision, the performance and adoption of which is essential to ensuring the product becomes a household name. Some of these products are still veiled in ambiguity, and live test-runs and product showcases over the next months will undoubtedly improve consumer sentiment. Until then, we can only rely on description provided by the Nucleus Vision team and a scattering of secondary sources.
In summary, the cogs which turn the Nucleus Vision machine include:
- ION sensor — This has been built in collaboration with industry leaders such as Intel, Alpha, and Radisys and is the proprietary network which uniquely identifies mobile phone signals, temperature, pressure, motion, acceleration, and sound within a 200 metre radius. This equipment is based on globally accepted telecom protocol and strictly complies with regulations of data access and transmission, ensuring that individual countries are unlikely to take issue with the hardware. Importantly, this is ‘technologically agnostic’, meaning there is no reliance on an app, WiFi signal, or other piece of digital infrastructure, allowing customer data to be stored securely offline.
- Orbit Blockchain — Essentially, another way of expressing Nucleus Vision operates as run-of-the-mill Ethereum blockchain enterprise. Regardless, this is the immutable platform where customer identities, customer data, and the nCash tokens will flow through, as well as facilitating the Universal Loyalty Program. While this is currently constructed through smart contracts on the Ethereum blockchain, Nucleus Vision have noted the inherent bandwidth limitations this carried, and stated at page 21 of their Whitepaper they “are also considering designing and developing [their] own Nucleus Vision blockchain platform in the future”.
- Neuron Intelligence Platform — the analytics engine which leverages the strengths of deep, blockchain and IOT. Overall this appears to amalgamate information sourced from the ION sensor and the Orbit in order to empower retailers to make real-time advantageous decisions when customers are most receptive.
Allegedly, the Nucleus Vision network is already operational across 10 outlets in India, although there is little way to currently corroborate this claim, and potential investors should maintain healthy skepticism. At the time of writing this article, the most credible verification of these systems is a very rustic (and obscured) demonstration at a Gini and Jony outlet in Mumbai.
Our rating: ★★★☆☆
We'd like to thank the entire Nucleus Vision community for helping us hit another terrific milestone - we're now among the top 5 fastest growing groups on Telegram, & it looks like we're only going to keep expanding! #nCash #ETH #NucleusVision #CryptoLife— Nucleus Vision (@NucleusVision) January 30, 2018
While a holistic scrutiny of the Nucleus Vision team might leave investors wanting, there are members with serious retail and sales experience whose expertise will be integral to the success of the project.
CEO Abhishek Pitti , a dropout of Harvard Business School, has a background in the start-up industry in general entrepreneurship and equity management, and saw some success in scaling LorvenSoft Tech. However, in a similar vein to his brother and CTO Avinash Pitti, both lack a tried and proven background in both the retail industry and projects of this magnitude. With this in mind, the crypto community will be watching with anticipation as to what these two and their team of 22 engineers can accomplish.
The greatest asset of the team is their CMO, Martin Dudley. Having past experience holding director of sales positions in Levi’s, Petrol Jeans, and Boom Financial Inc., the admittedly young team should benefit immensely from Dudley’s wealth of retail experience. In contrast, there is little information to be found about lead blockchain developer, Bryan Lemster, other than he is the owner of Halcyon Innovation, a company focusing on the creation of custom social networks, large retail sites, and mobile applications. Promisingly there appears to be overlap in his personal business endeavours and his role at Nucleus Vision. Altogether, with only one lead blockchain engineer advertised (who personally makes no reference to Nucleus Vision in his online portfolios), it seems unlikely that the development of a Nucleus Vision custom blockchain is anywhere close to becoming a priority.
Our rating: ★★★☆☆
At the time of writing this article, Nucleus Vision currently sits at 60,000 Reddit subscribers and over 93,000 Telegram followers. While it’s not unheard of for companies to spend money bolstering these figures, if Nucleus Vision is to be given the benefit of the doubt then this is a feat nothing short of impressive. In part, this may be due to the public backing of ICO entrepreneur Ian Balina, however anyone who has been in the ICO space for at least several months would have been aware of the excited sentiment accompanying this project, and credit must be given to the team.
In terms of their online persona, Nucleus Vision have maintained a professional and informative voice without ever stooping to promising guaranteed gains or a one-way trip to the moon. Instead, their Twitter is busy hosting bounty programs, warning against common cryptocurrency scams, and advertising employable positions under their brand.
Nucleus Vision have executed a clean and compelling marketing strategy which many other emerging tokens should take note of.
Our rating: ★★★★★
Overall, a careful inspection of Nucleus Vision leaves a person with more questions than answers. At this point in time, better explanations and more authoritative demonstrations of the technology are required before even a shred of veracity can be attached to claims of launching a ‘Nucleus City’ or even a ‘Nucleus Car’. While the current team aren’t raising any red flags just yet, they’ve made audacious predictions for the potential of their start-up, and this may well bite them if they fall behind on deliverables.
If nothing else, Nucleus Vision know how to market themselves and drum up social media hype, and in current market conditions this is one of the few qualities guaranteed to keep projects afloat.