Blockchain has immense benefits in the e-commerce industry. If
blockchain has to be integrated into e-commerce platforms, then the immediate
benefits that it could give us are ease of payments, managing supply chain
logistics and, most importantly, decentralized marketplaces.
A short recall of what a blockchain is. It is nothing but a
distributed ledger that stores transactional data across multiple computers.
The transactional data could be anything in digital form — for instance,
certificates, documents, software data, codes, money, and whatnot.
Combining all transactions results in a block. This block is
linked to the one in front of it and the one behind it. Therefore for a person
to forge it, he has to manipulate every block on the whole chain, which is
completely impossible. Hence it is a secure method to do transactions and store
data.
Blockchain e-commerce solution
Payments
Cryptocurrencies use the same decentralized, secure method of
transaction that blockchain has. As we know, all cryptos are built on the
blockchain. While using cryptos like Bitcoin or Ethereum for paying instead of
fiat currencies, the whole chain of the transaction,
- Gets recorded on
the blockchain
- Becomes
transparent
- Is immutable
even by the creators
- Rules out the
need for intermediaries
- Makes the
overall charges completely less
Trivia
- Nearly 15,000
places around the world take cryptocurrency payments.
- Microsoft,
Expedia, and Overstock, along with Shopify, accept payments in Bitcoin.
Blockchain for supply chain
To be downright truthful, numerous supply chain giants have
started using blockchain to simplify the process. You know why I am mentioning
this as the first thing.
The supply chain is enormously complicated and requires a lot of
manpower, logistics, and effort to put things together. By making everything
decentralized and transparent, it is easy to track and maintain records on
various matters. The matters mean anything right from manufacturing a product
to delivering it to the end consumer.
Lastly, an important thing!
If you are curious to know more about the blockchain ecommerce solution, stay tuned to this space. We have a lot more coming up to surprise
you. By the way, if you’d like to know about the best blockchain solution
providers for the e-commerce industry, we are open to help you!
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