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A Blockchain-Based Platform Transforms E-Commerce Perspective into a Decentralized Marketplace

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Abstract

Security and effectiveness have become important part in the today's business world. Most of the world’s population is diverging into e-commerce for its easy and effective services; however, security is the major concern which prevents the development of growing business. The solution is blockchain security which can enhance the credibility of the e-commerce services. This paper distinguishes about the challenges of the traditional process of ecommerce and how blockchain has conquered the traditional e-market using various blockchain-based platforms, variation of payment with crypto currency over traditional web payments. It demonstrates the business process carrying secured transactions with the decentralized marketplace. There are various e-commerce industries implementing blockchain-based platform for their improvement in online businesses. The study convinces the secure business transactions in a decentralized marketplace.

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... The paper has discussed the various applications of blockchain in areas of Payment, Security, Supply chain, Work automation with Smart contract, Ethical practices for transparency. The companies like MultiChian (Provide service to establish private blockchain for the financial transaction), Elinext (Software development company), Eligma (Artificial Intelligence-driven blockchain platform work as personal commerce agent), Coupit (An affiliate platform built on the blockchain) and Ravain (Blockchain-based Review Platform) are already working and have developed implementation related solution for e-commerce [22]. Thought, consumers might take significant time to understand the process of using blockchain-based e-commerce platforms. ...
Article
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Blockchain technology is considered as a significant development after the invention of the internet. Blockchain technology records the transactions on database which are encrypted and distributed over many computer networks like a digital ledger of online transactions. This technology can be utilized in the e-commerce industry to develop a decentralized online buying and selling platform. E-commerce industry presently facing many unique challenges like security measures of the e-commerce system, transparency, and trust, efficiency, etc. These challenges can be answered by the implementation of blockchain technology in the e-commerce industry. The article discussed opportunities for using blockchain technology in the e-commerce industry. Blockchain applications and opportunities are discussed for various aspects of e-commerce like Payment, Security, Supply chain, Work automation with Smart contract, Ethical practices for transparency in e-commerce transactions.
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Thesis
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Digitization in retail is rapidly accelerating and technology is playing an important role influencing day to day decision making. Blockchain, the latest disruptive innovation in the century promptly evolve to be the next technology for secured connectivity. A complex technology embeds an inventive and powerful vision to create a comprehensive solution to internet securities. Blockchain in retails has increased the visibility of the entire supply chain making it transparent with proof of product originality and traceability, by combat fraud, reducing counterfeiting, strengthening consumer confidence. This research review presents an overall view of Blockchain technology, its potentials, how it has transformed retail shopping and a framework based on block chain for retail shopping for a better perceptive. Keywords—Blockchain, Decentralization, retail shopping, framework, Product authenticity, inventory management, loyalty program
Article
Full-text available
Because of globalization, technology today is very important for developing businesses. The raw and semi-finished goods sector has not been given much attention so it needs to get special attention by creating a buying and selling system. The purpose of this study is to develop businesses in the raw and semi-finished goods sector. The method used in this paper is descriptive qualitative. So that the design becomes efficient, creative, and systematic design thinking becomes the solution of the design method of this information system. In this study the design thinking used consisted of three stages, namely empathy, define, and ideate. By using design thinking design will be efficient, creative, and user needs are always considered. Matengin Aja wrote is an application made to bring together owners of raw and semi-finished goods with people who need these goods. The owner of raw and semi-finished goods can sell the results of goods that are independently owned. By using product thinking design that is designed based on the needs of many people, the product can be well defined, and the overall concept can be displayed.
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