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Blockchain Technology for E-commerce Industry

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Abstract

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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Book
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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