How Blockchain Technology Will Transform The E-Commerce Industry Over The Next Few Years

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How Blockchain Technology Will
Transform E-Commerce Industry Over The Next Few
Years
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• Blockchain technology should be considered the
  most disruptive technology.
• The blockchain technology and it could
  potentially impact all sectors of the economy
  complete will transforming it through top-notch
  efficiency.
• Blockchain technology has been employed in
  different sectors of the industry like financial,
  energy, logistics to supply chain management,
  health sector to the gaming industry, and is even
  being used in online gambling.

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Different Issues Faced by E-commerce Industry
How It Will Be Solved Through Blockchain
Technology

1. Payments.
2. Supply Chain Management.
3. Data Security.
4. Transparent Marketplace.

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Payments

• The payment industry will greatly benefit from
  blockchain technology.
• Payment solutions for international e-commerce
  are far from perfect, even with payment
  solutions like PayPal and Skrill, the payment
  industry still needs some reworking.
• Blockchain e-commerce projects such as request
  network e-commerce have an aim to create a
  blockchain based marketplace using fast secure
  transactions for any e-commerce business model.

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Supply Chain Management

• The most prominent use of blockchain is in the
  cryptocurrency.
• Blockchain can increase the efficiency
  transparency of supply chains.
• Blockchains allow for the transfer of funds
  anywhere in the world, its very convenient for a
  supply chain that is globalized.

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Data Security

• The potential to change the way businesses
  operate can help businesses become more secure
  efficient.
• E-commerce platforms are home to a very large
  amount of data.
• Customers data is stored on centralized
  servers where it is vulnerable to online
  criminals.
• Blockchain platforms are decentralized, which
  in turn means customer data is also decentralized.

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Transparent Marketplace

• The blockchain is a platform that consists of a
  decentralized ledger that records, verifies,
  tracks cryptocurrency transactions between
  parties.
• It is a decentralized marketplace, in turn, are
  p2p networks that directly connect consumers
  sellers without any intermediaries.
• A decentralized marketplace connects three
  group of users producers, sellers, and consumers.

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