On May 24, 2018, Shenzhen Retail Business Association (SZRBA) invited Waltonchain Chief Strategy Officer Welson Wong to participate in the “Secret of Smart Retail” Campaign held in Shenzhen Invengo RFID Industry Park. This is the 4th event; previously the campaign visited Tencent, JD, Baidu and Suning.

Shenzhen Invengo Information Technology Co., Ltd. was established in December 1999 and listed on the Shenzhen Stock Exchange in August 2007. Invengo is China’s leading IoT enterprise and a global RFID technology manufacturer and solution provider. Invengo develops and manufactures high quality smart RAIN RFID (UHF) and NFC (HF) inlays, tags and connectivity solutions for the Internet of Things (IoT). With a focus on RFID innovation, Invengo has created a leading product line in retail, library, pharmaceutical, healthcare, public transportation industry, etc.. Since its listing, the company has paid 300 million Yuan in taxes. Invengo has been listed on Forbes’ list of the most promising small and medium-sized enterprises for 2 consecutive years and has been awarded the title of “China’s Top 50 Valuable Small and Medium-Sized Listed Companies”.

Event participants

Welson Wong and Su Liming, Vice President of SZRBA, discussed blockchain application in the smart retail industry. Mr. Wong stated: “We are very grateful to the Association for inviting us to Invengo. We highly appreciate the outstanding contribution of Invengo in the field of RFID applications. At the same time, we believe that in the background of the rapid development of the new retail, the development and application of blockchain will be an important breakthrough point for the future development of the whole retail industry.” Vice President Su made a key introduction to the blockchain technology and Waltonchain during the event. She called all present companies for keeping track of the changes, grasping the opportunity, compliance with the new trend of technological development and joint creation of a better industry ecosystem. At the same time, she believes that the further popularization and promotion of blockchain application in the retail industry is the duty of the Association. Shenzhen Retail Business Association will invite Waltonchain to conduct special training on the blockchain technology and its applications for its member companies. These efforts will help the member companies better understand blockchain.

Vice President Su Liming encourages members to pay more attention to blockchain

During the event, the participants visited the Invengo’s show room of RFID applications in railway transportation management, smart library management, smart linen management for laundries and smart tourism overall management. Invengo’s Director of Retail Division Mr. Liu Xinghua introduced the industry development and the company’s main products in detail. Mr. Zhao Dezhen, Director of Marketing at Invengo, expressed great interest in blockchain and hoped to establish a communication channel with Waltonchain to explore the possibility of joint development. Later on, the participants explored the “MiShiGou (Mr. Go) 24-Hour Unmanned Store” implemented solution to experience the innovative technology.

Welson Wong and the participants learn about Invengo’s RFID application in railway transportation management

Welson provided the Association members with an in-depth introduction of the blockchain technology. He stated: “The characteristics of decentralization, tamper-resistance and transparency of blockchain are adaptable to the development trend of the new retail environment, which will inevitably spread across the entire retail industry very soon.” The Association members showed high interest to blockchain and would like to visit Waltonchain, discuss the future development and joint creation of an industry ecosystem that conforms to consumer trends. Mr. Wong expressed his sincere welcome to all present enterprise representatives.

Some of the SZRBA member companies that attended this event: Ren Ren Le Supermarket Founded in April 1996, Ren Ren Le is a supermarket chain based in Shenzhen, China. As of 2017, Ren Ren Le had 128 hypermarkets and community supermarkets in dozens of large and medium size Chinese cities with a total business area of more than 1.8 million square meters. In 2016, its operating income exceeded 10.1 billion Yuan and the chain won the honor of “Top 100 Enterprises in Shenzhen” and “Top 500 Chinese Enterprises”. CR Vanguard China Resources Vanguard, the Vanguard Shop of China Resources, operates supermarket chains of China Resources. As of 31 December 2014, there are 4866 shops operating in Hong Kong and across the mainland China. SF Best SF Best is introduced by SF Express, the second largest express delivery company in China. Relying on online e-commerce platforms and offline community stores, SF Best provides users with the daily high-quality food products from more than 60 countries and regions in the world, and provides fresh product delivery to 237 cities. CHOW TAI SENG Jewelry CHOW TAI SENG Jewelry is a mid-to-high-end jewelry mainstream brand with a total of 2833 stores across China. Shenzhen Sundan Established in 1992, Shenzhen Sundan is an online and offline integrated retailer focusing on high-end consumer electronics and appliances. Telesource Co., Ltd. Telesources specialized in the research, development, operation and service of mobile information software, and advanced professional solutions in the areas of enterprise sales automation applications and mobile marketing comprehensive promotion. Postal Savings Bank of China Postal Savings Bank of China is a commercial retail bank which provides basic financial services, especially to small and medium enterprises, rural and low-income customers. PSBC has approximately 40,000 outlets and over 500 million retail customers across China. Ping An Bank Ping An Bank Co., Ltd. is a Chinese joint-stock commercial bank with its headquarters in Shenzhen. It primarily operates in Mainland China with a representative branch in Hong Kong. As of June 2016, Ping An Bank had 38,600 employees and provided diversified financial services to clients through 58 branches and 1,037 outlets across China.

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