Even though Target entering the blockchain space was a surprise to many, it was news long overdue for others. The company has been tampering with the blockchain technology since 2018 and looks like they’ve finally committed themselves.
Target’s signature product that it’s been working on is called ConsenSource, which runs on the Hyperledger Sawtooth. The project has been open-sourced since the day of its creation, but very few have contributed.
Now it seems that Target is going 100%, as it’s considering to hire a Blockchain developer to work on the platform.
Why was it secret?
As surprising as it may sound, Target never made any commitment to the blockchain network in the past. Sure it had the ConsenSource project but that was believed to be something like a pet project for the company to experiment.
They hadn’t even told their investors about the new feature, as their annual report simply mentioned that they will be working with supply chain improvements, but it didn’t even mention Blockchain or cryptocurrencies whatsoever.
Despite the secrecy, the community is now actively waiting for Target to launch the Sawtooth project so that all can see what this new platform has to offer.
Many believe that it’s the first retail giant to allow crypto payments, but that hasn’t been confirmed yet. What can be said is that, if Target introduces a crypto-based payment system, it will be miles ahead of its main competitors like Wallmart and StopnShop.