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Blockchain Technology for E-commerce Industry



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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... BCT enables ecommerce platforms to offer an efficient payment system, decentralized control to prevent the domination of big companies, an anti-fraud system, less transaction processing charges and overall efficient ecommerce platforms [70]. It creates an environment of trust and credibility in trade transactions by tracking and distributing consumer records as well as enabling everyone to see the progress of business transactions [56]. ...
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Given the emerging nature of integrating Blockchain Technology (“BCT”) into several business fields concerning the interaction between companies and their customers, this study aims to investigate the applications of BCT in marketing through an accurate procedure of locating, selecting and analyzing existing companies using BCT in marketing. A sample that consists of 800 companies was identified using web-scraping methods. The data set was collected from ICO websites as well as from an existing, older landscape of applications. The data set was then intensively analyzed in order to be categorized into five fields of marketing technology. Advertising and ecommerce outgrew the other fields of social & relationship, content & experience and data in absolute numbers, revealing the focus of practitioners in the past as well as gaps for the future. The authors provided future directions for researchers on and development of tools to systematically generate knowledge and improve the application of BCT and the work of practitioners in marketing.
E-Commerce has become more and more popular because of rich products, fast transactions, and free from time, locations, stores, and so on. However, the disclosure of personal data such as their IDs, addresses, and phone numbers has become a major concern for online activities. The current e-commerce model is at the crossroads of ownership and privacy. To address this, this article creates an enterprise protocol that uses smart personal contracts to protect privacy during the negotiation phase. This protocol allows contracting parties to conduct business without disclosing personal information such as identity, address, and phone number. Furthermore, we employ the zero-knowledge proof to ensure ownership.
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.
Part of Tsinghua University Texts, Introduction to E-commerce discusses the foundations and key aspects of E-commerce while focusing on the latest developments in the E-commerce industry. Practical case studies offer a useful reference for dealing with various issues in E-commerce such as latest applications, management techniques, or psychological methods. Dr. Zheng Qin is currently Director of the E-Commerce Institute of Xi'an Jiaotong University. He received his PhD from Northwestern Polytechnical University. © 2009 Tsinghua University Press, Beijing and Springer-Verlag GmbH Berlin Heidelberg.
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