This article was written by Justin Lacche, a Fortune 100 Intrapreneur & Innovator in the Blockchain, RFID, Cryptocurrency space and also founder of Major League Cryptocurrency.
Saturday, June 19, 2021.
It’s the first day of summer break for Amber Jenkins; the now incoming freshman at a Portland, Oregon high school has one hour to shop for herself, before meeting back up with her family for lunch at Pioneer Courthouse Square.
Amber heads to her favorite sportswear and apparel store with her entire game plan ready on her smartphone.
Amber’s parents and grandparents rewarded her for another year of good grades. Amber asked for the new cryptocurrency “OksanaCoin” launched by her favorite professional tennis player, Oksana Ohlsen.
In reality, OksanaCoin was created by the professional sports representation firm that signed the tennis star; but Oksana Ohlsen is as tied to the cryptocurrency as any other type of endorsement. At the streaming coverage of her ICO (initial coin offering), Oksana told her fans, “OksanaCoin represents diversity, empowerment and equality. When you use OksanaCoin, make sure it is only for purchases you feel represent those principles. After all, you all are OksanaCoin, so make it something you all are proud of.”
Cryptocurrency isn’t as mainstream as the dollar; but by 2021 it is the most lucrative and growing form of social media on Earth. Celebrities lend their name to new cryptocurrencies and partner with companies they endorse to at least accept a percentage of purchases with their specific cryptocurrency. In 2021, instead of being on Mount Olympus because of social media followers, those who have the most commercially viable and stable cryptocurrencies are the new A-listers.
Groups like Major League Cryptocurrency (www.majorleaguecryptocurrency.com) are venues where the Ambers of the world vote for their favorite cryptocurrencies based on what they feel it means to the Deconomy and the equality of economic opportunity for all.
Oksana Ohlsen also is sponsored by Amber’s favorite sportswear and apparel company, and the company honors OksanaCoin as a form of payment. Amber knows this because the company app updates real-time both the cryptocurrencies they accept, and at what exchange rate they will accept it at on a given moment.
This is the norm in the year 2021 because of the volatility of cryptocurrencies. The new standard is for cryptocurrencies a retailer does honor, the retailer accepts it at 96 percent the market value at the time of purchase. Larger retailers usually limit the percent of purchase to 20 percent paid by cryptocurrencies – these both are ways industries are building the muscle to have cryptocurrencies part of their standard operational and accounting models.
Looking at the math: if Amber wants to buy a pair of shoes and a shirt for a total of $100, the sportswear and apparel store would allow her to pay $20 of that with OksanaCoin. If one OksanaCoin is worth 25 cents USD that means Amber can spend up to 80 OksanaCoin towards the purchase ($20/.25).
Since the company also has a 4 percent “mark up” in accepting cryptocurrency, Amber would spend 83.2 OksanaCoin ($20.8/.25).
This workflow is what is known to everyone in 2021 as the Deconomy: the growing mainstream acceptance of decentralized cryptocurrencies.
Amber is welcomed by the customer specialist at the store, who knew Amber was coming because the notification Amber sent from her app. Amber has a profile and purchasing history on file; because she is a minor, there are more limited data points shared — all of which Amber’s parents have access to by virtue of pairing functionality the app provides.
This app also shared that Amber intends to spend the maximum allowed purchase using OksanaCoin, and the checkout/purchase algorithm is already set for the next hour, provided Amber chooses to purchase anything.
The real-time shopping experience in the summer of 2021 is much less about having all the inventory centralized and more about the interactive customer experience. Stores like where Amber shops fully leverage Blockchain with retail partners, RFID, as well as, CDIH (certified decentralized inventory holders) to get customers what they need in a matter on minutes.
This offering still is more the norm in urban areas; stores in less densely populated areas either carry more inventory and/or have a more local/centralized inventory option and/or rely more on the offer of free 18-hour home delivery.
Amber enters the store and the sales specialist already has a private kiosk ready. Amber indicated in her profile sent she wants the total in-store experience to be no longer than 35 minutes, including checkout.
“Good to see you back, Amber. My name is Emma and it’s my pleasure to be helping you today,” the sales specialist said. “We have your profile loaded and ready to go, both for this season’s tennis wear, as well as, some potential fall styles that will be available for purchase in about six weeks.”
Shopping in 2021 is all about connecting the shopper, end-to-end, directly with the athlete and/or designer and/or fashion community it is a part of. Amber looks at a kiosk screen that has the complete clothing line of her favorite athlete, Oksana Ohlsen, with every possible color, proprietary fabric options and style combinations.
The life-size computer-generated image of Amber can turn 360 degrees, as well as, give Amber the option to toggle between the image of herself or Oksana Ohlsen in the same outfit combination of that moment.
Amber decides on a tennis shirt, playing skirt, socks and new shoes; Emma places an “intent to purchase” in the store tablet. The next step is for Amber to try on everything before making a final decision. It also is in that moment that Emma learns the store has all the exact sizes, but not the shade of light blue in Amber’s size.
Emma’s analytics report this in microseconds because the integrated RFID and Blockchain functionality available in-store, which is also supported through backroom drones both perpetually reporting on available inventory, as well as, potential purchasing combinations based on the most prevalent shopping algorithms of the season in that particular city.
The plan is Amber will try on a darker shade, and if it fits and she wants to purchase it, the exact shade of lighter blue has been located one mile away with a retail partner. Emma knows this by using her Blockchain command center dashboard. The retail partner has been notified to be “ready” in case Amber locks in the purchase.
Amber likes the fit and asks Emma to place the order; Amber sends over an on-line coupon which Emma applies to the checkout landing page, which includes the 20 percent purchase via OksanaCoin.
“Your shirt will be here in about 8 minutes, and we’ll bag everything and have it ready for you in about 11 minutes. In the meantime, we have your image loaded to look at some draft fall styles,” Emma said.
“Sounds good,” Amber replies as she presses “authorize payment” on Emma’s template. The final particulars of the order are completed via the Blockchain and RFID integrated between the main store and retailer.
The store system also immediately converts OksanaCoin to USD to align its accounting.
Within 11 minutes, Amber is handed her entire purchase; receipt has been emailed to her and Amber even got some pictures emailed to her with the fall jogging outfit combinations she saw while waiting. Amber gave real-time fall e-sample feedback to the company including “the cut on the shoulders should fit smoother than the image currently shows.”
On the way out the door, Amber posts her new tennis outfit picture on her social media adding that OksanaCoin went towards an outfit Amber will play in throughout her summer high school tennis tournaments. Oksana Ohlsen would ‘like’ the post later in the day.
Mission accomplished for Amber on her June 19, 2021 shopping experience. Now the hardest challenge would be convincing her father to try out the new vegan restaurant down the street.