E-commerce is an economic sphere, in which the process of buying and selling products is done by electronic means — over the Internet, mobile applications.
Types of e-commerce
- B2C e-commerce (Business-to-Consumer).
- Internet marketing.
- Electronic Data Interchange (EDI).
- Online banking.
- Online auction.
- Sale and booking of tickets.
- B2B-transactions (business-to-business), etc.
- Wide coverage of the audience (potential buyers).
- Ability to work 24 hours a day.
- Less advertising and promotion costs.
- Simplification of the document management function.
- There is no clear legislative framework. The possibility of difficulties in intellectual property issues, personal data protection; in taxation.
- A big increase in competition.
eCommerce And Blockchain Technologies
One of the goals of the blockchain is to update the commercial ecosystem of the Internet: free micro-markets should replace large marketplaces that earn money through intermediation. The integration of BBEP (blockchain based eCommerce platforms) allows the buyer and seller to interact directly.
In addition, decentralized commercial sites can escape national pressure, logistics become cheaper, the market is more transparent, and user data is much better protected. All of this will undoubtedly increase the number of participants in the global e-commerce market over time.