HashCash Plans Blockchain Database For Targeted Corporate Sales

Data Dive: Overstock, Sears, PayPal and iZettle

Blockchain consulting firm HashCash is introducing a new service for businesses in need of robust sales forecasting.

The firm announced Monday (Nov. 19) that it is launching an initiative to gather intelligence and data on customer buying habits to provide sales prediction tools for businesses. HashCash will compensate individuals for providing information on their buying habits, which the company plans to use to develop a “consumer data blockchain-based platform” to collect customer buying behavior information from around the world.

“HashCash is going ahead with the blockchain thinking to break the traditional mindset of the companies,” said the firm’s Managing Director Raj Chowdhury in a statement. “Blockchain will help us attain an immutable record of consumer database and assist in identifying a behavioral pattern of the target group of audience, helping in the conversion of potential customers into a final consumer.”

Businesses that look to purchase data on specific customers’ buying habits can access this information via HashCash’s blockchain platform, the company explained. The solution will track changes in buying patterns by analyzing past purchasing records and maintaining identity privacy, with customers voluntarily providing their data for compensation.

The company explained that the database could also be used to seek potential new employees or service providers.

“We are planning to design a new strategy, which [facilitates] consumers to get paid for data they willingly provide on this blockchain platform for interested enterprises to avail them,” according to an unnamed HashCash spokesperson in the release. “HashCash offers a protocol to organizations, through which they can match their requirement for talented professionals. Through this blockchain platform, [businesses] can access an individual’s personal data, which is provided by them voluntarily, to contact them for a professional purpose.”

Earlier this year, HashCash announced a partnership with YES BANK to develop a cross-border corporate payments solution, as well as a collaboration with Russia’s Alfa-Bank to develop a blockchain clearing house solution for corporate and retail customers.