What are the advantages of blockchain in e-commerc
E-commerce industry has changed people's way of shopping and life, which for many people has been basically integrated. E-commerce is a business operation mode that uses microcomputer technology and network communication technology to achieve online shopping of consumers, online transactions and online electronic payment between merchants, as well as various business activities, trading activities, financial activities and related comprehensive service activities.
Blockchain technology is considered to be the most disruptive innovation technology in the fourth industrial revolution. There is no technology more powerful than blockchain technology in the world. It may have a potential impact on all economic sectors and bring them first-class efficiency.
The main advantages of blockchain in e-commerce industry are as follows
1. Decentralization: the blockchain is not regulated by any central authority, which usually means that the buyer and the seller control the operation of the blockchain, and no third party can manipulate or review its transactions. Like other currencies, no bank or government can devalue or inflate cryptocurrencies. For example, if any country's economy collapses today, their currency value may suffer huge losses, but bitcoin will not, because geopolitics or geographical environment will not affect its operation.
2. Privacy protection: cryptocurrency based on blockchain technology does not disclose the identities of the parties to the transaction. But because distributed ledgers store transaction details and provide visibility, these transactions are transparent.
3. Freedom of trade: there is no specific authority to control how anyone uses their bitcoin. In most cases, restrictions will be imposed on the number of payments, even depending on the location. However, bitcoin is a kind of currency based on blockchain, which has no restrictions on the expenditure limit and provides users with absolute freedom of transaction.
4. Transaction efficiency: traditional transfer usually takes a long time, especially in different countries / regions. Remittance may take several hours to complete. Bitcoin transfer, on the other hand, takes only a few minutes! Most importantly, they will not close at any time, and transactions can happen at any time.
5. Reduce fraud: due to the use of peer-to-peer technology, it is difficult to crack the process and conduct fraud. Therefore, it is one of the safest trading methods available at present. With recent developments, the e-commerce market is likely to soon allow customers to pay with bitcoin. In addition to decentralization, ease of use and security, remittance and collection will be as convenient as QR code scanning. It is likely that the convenience of payment and collection is the first blockchain implementation in the e-commerce market.
Blockchain plays a vital role in the e-commerce industry, which is why more and more enterprises use blockchain to make their e-commerce more secure, easy to use and fast. Huashang group is the first choice for the development of blockchain mall.