China Unlimited

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Check out RCON. They are investing in blockchain technology to improve gas stations.

Recon Announces Cooperation with FGS to Develop Blockchain-based Mobile Shopping System
BEIJING, Jan. 16, 2018 /PRNewswire/ -- Recon Technology, Ltd. (NASDAQ: RCON) ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service, electric power and coal chemical industries, today announced that it signed a two-year joint development term sheet with Future Gas Station (Beijing) Technology, Ltd. ("FGS"), a leading data operation company on January 15, 2017. As previously announced, Recon owns 8% of FGS. Recon and FGS plan to jointly develop an integrated blockchain-based mobile shopping system for use in gas stations. FGS will be in charge of developing this system while Recon will mainly provide resources including funds, supporting personnel and risk and compliance management advice.

Management Commentary

"We're glad to cooperate further with FGS to explore the effective use of blockchain technology in our business," stated Mr. Yin Shenping, CEO of Recon, "We are excited about the opportunities such technology provides us to adapt to consumer behaviors to better meet their needs and improve efficiency and profitability in our customers' stores. We believe development this of blockchain technology will benefit both Recon and FGS."

Mr. Song Yang, the founder of FGS, said "We have been enjoying rapid business development since Recon's investment in us in December 2017. Our platform has been implemented by more than 150 gas stations, and we have added approximately 10 gas stations daily since January 1, 2018. Since we launched our mobile app DT Refuel, it has been downloaded more than 80,000 times, with approximately 93% of downloaders activating the application and more than 86% of active users purchasing goods through the app. App downloads have been driven by QR code and in-store promotions. As a result of increased adoption and usage rates of the DT Refuel app, we have seen recent daily sales through the app reach RMB 1.6 million and we expect average app sales to reach RMB 90 million in the next three months.

"In addition to encouraging consumers to make use of our convenient platform to purchase gas at the station, our DT Refuel app can promote the sales of non-oil products by cross-selling complementary products and can distribute electronic coupons, rebates and other enticements to encourage additional purchases. DT Refuel's intelligent marketing system and linkage to China's main payment systems make purchases easy for consumers and convenient for gas station owners. Moreover, through blockchain technology's advantages of great safety, efficiency and application of smart contracts, we expect further increases in user engagement with the system, reductions costs to suppliers and optimization of the logistics chain. We believe the user interface is attractive to both consumers and stores and are eager to share this technology with even more gas stations