With major partners like L’Oreal, Coca-Cola, and JTI, you might think that OSA DC is making a name for itself–and you’d be right. This company is one of the first marketplaces to combine blockchain technology and artificial intelligence to create a better buying experience for consumers. While OSA DC does significantly improve the shopping experience for consumers, it also yields numerous benefits for retailers and manufacturers.
It is a promising platform with lots of room for growth and innovation in the world of retail.
What is OSA DC?
Built on the OSA Hybrid Platform, OSA Decentralized (often shortened to OSADC) utilizes data from a huge variety of sources to help consumers make informed purchasing decisions. The platform gathers data from consumers, retailers, manufacturers, and open data sources.
One area where OSADC excels is the wide variety of technologies it utilizes. Giving consumers buying information and helping companies make solid business decisions involves multitudinous factors and considerations.
AI technology considers the factors that go into consumers’ buying decisions and gives weight to various information accordingly. Blockchain and smart contracts streamline the data collection process and ensure that data providers are offering accurate, honest information. The ecosystem also uses a master catalog of products to condense information and keep everything easy to find.
Real-time data processing constantly updates the information available to users, so consumers can feel confident that they’re always getting the most up-to-date information on the products they’re buying.
What OSADC Brings to the Table
OSA Decentralized has obvious benefits for consumers. The more information consumers have, the easier it is to make an informed decision. Consumers can use OSADC to find the ideal products for their needs and access them quickly.
However, OSADC also has significant advantages for others in the ecosystem. Typically, there is a major disconnect between the different parties in a retail system. Without real-time information updates, manufacturers, retailers, and consumers are all working from different sets of information. This can lead to stocking issues and product waste, issues that cost retailers billions of dollars every year.
Real-time inventory tracking solves understocking, overstocking, and product waste problems. OSA Decentralized data offers retailers and manufacturers the tools they need to evaluate and strengthen their business strategies.
The Role of the OSA Token
The OSA Token plays several different roles in the OSA Ecosystem. In the early stages of the company’s development, OSA Tokens fuel the development of OSA Decentralized services, building up the system and creating the base it needs for rapid, explosive growth. OSA Tokens give consumers and retailers an easy way to make and receive payments, accommodating real-time micro-transactions.
The backbone of the OSA Ecosystem is its ever-growing information database, which requires input from users at every stage of the purchasing process. To encourage consumers to add accurate and useful data, OSA Tokens are used as incentives. Consumers can use these tokens for purchases, premium memberships, bonuses, and more. The public presale runs through July 3, 2018, with a hard cap of $40 million.
How OSADC Stacks Up Against the Competition
Overhauling a major industry like retail involves lots of work and tweaking. Whenever you have multiple companies vying for customers’ sales—a common situation in this type of system, since customers may compare prices and stock options—it’s important to maintain the integrity of the system and avoid retailers manipulating data. OSA Decentralized uses smart contracts to hold manufacturers and retailers accountable for the information they share, minimizing the risk of manipulation and inaccurate data.
A huge part of the OSA Ecosystem relies on machine learning and artificial intelligence. A lot depends on how quickly and efficiently OSADC can acclimatize its artificial intelligence engines to the needs of consumers, manufacturers, and retailers. While early reports are positive, how OSADC will adjust to a larger load of customers and businesses remains to be seen.
Overall, OSADC has a lot to offer those who get involved, whether they do so as retailers, manufacturers, customers, or third parties. They have an aggressive growth plan that aims to change how people shop and how retailers grow & expand. Future goals include image recognition technology and improvement of the machine learning model in 2018. We’re hopeful about OSADC’s prospects as they bring new companies and consumers into the fold.