Lowe’s Cos. Inc. is leveraging cutting-edge technology in a new initiative to curb store shrink called “Project Unlock.”
Project Unlock combines low-cost RFID chips and Internet of Things (IoT) sensors to activate power tools at the point of purchase while also creating a secure, publicly accessible, and anonymized record of legitimate purchases. by blockchain.
To support Project Unlock, Lowe’s has built a blockchain record that verifies and tracks all legitimate purchases. As a result, Lowe’s intends to make it easy for customers to see if they’re purchasing stolen goods, or for law enforcement to crack down on organized crime rings that conduct professional shoplifting operations.Chain Store Age