Solving the $ 120 Billion Retail Theft Challenge with Blockchain and AI StoreSafety
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Retailers face significant challenges, with store theft costing the global retail industry approximately $120 billion annually. To combat this, StoreSafety is bringing decentralized blockchain technology to the retail sector, aiming to protect goods, reduce losses, and enhance store safety.
StoreSafety uses a Decentralized Network (Blockchain) to store anonymous detection IDs of violent suspects, notifying store staff preventively when such individuals enter the premises. Through an ultra-fast suspect verification API, existing License Plate Recognition (LPR) cameras and other sensor systems seamlessly connect to the StoreSafety Decentralized Network to provide real-time alerts and notifications.
StoreSafety’s business model charges $0.01 per weekly unique decentralized network request, ensuring affordable and scalable service for all retail participants.
StoreSafety Network is a preventive retail theft technology tailored to small and medium-sized retail stores. It leverages blockchain, federated learning, and decentralized networking to redefine retail security.
In today’s interconnected world, everyone leaves behind a wireless digital footprint. StoreSafety uses machine learning, blockchain technology, and decentralized networking to detect violent offenders, repeat shoplifters, and organized micro-gangs.
Retail staff can manually input license plate information into the StoreSafety App, optionally recording the vehicle’s Bluetooth MAC address if BLE sensor systems are installed at the store’s parking lot or entrance.
The data is encrypted and stored on the decentralized blockchain. When a flagged individual enters the store, staff receives an anonymous alert, allowing them to take preventive action.
The StoreSafety Mobile App is fully GDPR and CPRA compliant, ensuring no personal images are shared. Instead, it provides warnings, helping staff stay alert to potential threats. Security personnel using the app can request further details, such as the suspect’s image, for enhanced protection.
Decentralized Network API Call Earnings Distribution:
The StoreSafety Network processes anonymous data collected from patterns, correlations, and digital footprints in a decentralized manner.
Each transaction is homomorphically encrypted and stored on the blockchain. Utilizing unique Proof of Authentication (PoAh) and Proof of Stake (PoS) concepts, the network incentivizes miners, as transaction fees are based on StoreSafety’s service sales.
Both PoAh miners and PoS holders receive a substantial percentage of monthly sales from StoreSafety, encouraging long-term participation and securing the network.
The privacy-by-design decentralized network incorporates Validator and Collator Nodes that process sensor data, ensuring the network is secure, efficient, and privacy-compliant.
Validator Nodes
Validator nodes operate in close proximity to sensors, processing real-time detection results based on federated learning. This allows retailers to share detection data safely across stores while ensuring that the data remains secure and private. Validator nodes communicate detection results to collator nodes periodically.
Collator Nodes
Collators aggregate decentralized data transactions and maintain the relay chain between the plugins, sensor systems, and digital footprint processing nodes. Collator nodes ensure the network remains decentralized and secure across limited nodes, processing only obfuscated anonymous data.
Proof of Authentication (PoAh)
StoreSafety’s Proof of Authentication (PoAh) protocol is designed for low-energy consumption and ultra-fast authentication, ensuring rapid data processing without sacrificing security.
PoAh nodes process data locally from sensors, ensuring anonymity, privacy compliance, and real-time processing.
Node validators and verifiers operate with privacy-by-design principles, using data obfuscation and closed data access rights to process minimal but essential machine learning parameters. To ensure data security, each transaction between nodes is homomorphically encrypted, safeguarding both the data and the privacy of all parties involved.
By detecting digital footprint patterns in real-time, StoreSafety provides an edge-based solution for small and medium-sized retailers, protecting them from potential threats through pattern recognition and decentralized security.
The global retail industry loses $120 billion annually to theft. StoreSafety has identified three primary markets for its initial rollout:
StoreSafety’s goal is to integrate its technology into 100,000 retail stores globally within three years. With more than 1 million retail stores worldwide, StoreSafety’s market potential is vast. In the U.S. alone, there are over 500,000 stores, and StoreSafety focuses on locations over 600 square feet.
The StoreSafety team has surveyed retailers and security professionals, confirming a high demand for preventive theft solutions. StoreSafety seeks investment from the crypto community to accelerate its growth, expand its reach, and deliver its technology to retailers at a reduced cost.
StoreSafety aims to reduce retail theft by detecting:
Whereby the micro-gangs typically consist of 2-3 individuals who work together to distract staff and commit theft. StoreSafety uses machine learning correlation to track digital footprints and detect gang members, even if they switch smartphones or devices.
Violence against retail staff is a growing concern, particularly during robberies or when stores are closing. In many cases, suspects are armed with knives or firearms, and violent confrontations can have lasting physical and emotional effects on staff.
StoreSafety’s ability to detect micro-gangs and known criminals using digital patterns helps retailers take preventive action, reducing the risk of violence in the workplace.
By providing early alerts, staff can be better prepared to respond to potential threats, and law enforcement can be alerted remotely when necessary.
StoreSafety represents a groundbreaking approach to retail security, leveraging decentralized blockchain technology to address the $120 billion problem of retail theft.
By integrating machine learning, federated learning, and privacy-compliant decentralized networking, StoreSafety provides retailers with the tools they need to protect their staff, customers, and assets.
Through its innovative use of blockchain technology and commitment to privacy, StoreSafety offers a scalable, secure, and efficient solution for preventing retail theft and violence, creating a safer environment for everyone involved.
