the e-commerce industry has seen a fair number of ups and downs since its inception. However, it has managed to become one of the most sought-after industries today.
So, what next?
There’s only one simple answer to this- Blockchain. Blockchain has created quite the stir in the industry and is currently running very close to the established sections of the economy. Innovative platforms like Coinlinkedare using Blockchain to change the way people buy goods securely across the web, with cryptocurrencies. More on that later. Here’s how Blockchain will change the e-commerce landscape for the better:
- There will be a change in the methods of payment
Blockchain is popularizing the use of cryptocurrency in place of normal currency. This is attributed to two reasons- first, it is easy to implement this process, and second, it provides a lot of advantages over traditional modes of currency. Given below are some of the advantages:
- Blockchain is decentralized, which means that there is no one uniform authority that is running it. Only the buyer and seller can participate in the Blockchain operation, which means that your transactions will not be hampered by any third party.
- With cryptocurrencies that use the Blockchain system, your identity is protected. Although the transactions themselves are extremely transparent, your identity is not given away.
- The transactions can be done freely because of the absence of a governing body. You don’t need to visit anyone to create an account but can finish everything without leaving your room. Also, no additional charges are applied when you create an account.
- Money transfers become very quick and easy to do. If you’ve had to send money abroad, you would know that it often takes a long enough time. But not anymore. Cryptocurrency can be transferred in a matter of minutes, and from any time, anywhere.
- There is a lesser fear of fraud because the spaces are protected with reinforced security.
- Better supply chain management
With Blockchain, supply chain issues like keeping records and tracking products can be monitored effortlessly. You can also reduce the overall revenue and manage your inventory better by using Blockchain in your system.
- Create a more independent e-commerce industry
Since Blockchain is decentralized, there is no central authority figure who can dominate anyone. The wrongdoings on the part of any business merchant can be totally eliminated. A transparent marketplace can also give rise to a better and more efficient transaction system that works without any friction or problems.
With that, we come to Coinlinked, the first-ever Blockchain-based social network and cryptocurrency commerce platform. It just recently launched and it’s very unique. It’s a social marketplace based entirely on the Blockchain system. They claim to be a safe way for users to purchase products from a whole range of national and international websites, using cryptocurrency like Bitcoin, Ethereum. This initiative has been launched to facilitate the management of digital assets in the buying process of goods across the Internet. The hope is to make the process of buying with crypto smooth, fast and ultimately safe, due to it being powered by Blockchain technology.