The impression of e-commerce on the world economy is much-reaching. Buying and selling platforms are a so-called territory where people conduct transactions. They enable unite a whole lot of sellers and buyers. It helps to improve trade efficiency and lessen prices. There are customer-driven, seller-driven (or supplier-driven) and third-occasion-driven buying and selling platforms. They also differ in their form of group.
Universal Requirements – One strikingly unusual feature of e-commerce technologies is that the technical standards of the Internet and therefore the technical requirements for conducting e-commerce are universal standards i.e. they are shared by all the nations around the world.
B2B definitely deals with companies who are doing business with each other. An example of that is manufacturers who are selling their product to distributors, and the wholesalers are selling it to retailers. Thus, the pricing can be based on the number of orders and is frequently up for grabs.
The advantages of E-commerce definitely rise above the disadvantages as you’ll have a huge audience to market in direction of, the aid of search engines, the help of tons of people, instruments to make transactions, and even the lack of inventory at times. New markets – The internet has the potential to expand business right into a wider geographical places.
four. Peer to Peer (P2P) – Although it is an e-commerce model however it’s more than that. It’s a technology in itself which helps people to directly share computer files and computer resources without having to undergo a central web server. To use this, both sides need to install the required software so that they can communicate on the common platform. This type of e-commerce has quite low revenue generation as from the beginning it has been inclined to the free usage due to which it sometimes got entangled in cyber laws.
The term E-Business is an acronym referring to “Electronic Business,” and its business is conducted with the use of the Internet, Extranet, Intranet and website. On this sense, E-Business is a bit much like E-Commerce, nevertheless it’s more than just selling and shopping for merchandise or services online.
These challenges have been bothering the sellers since the beginning. Thus, integrating Blockchain Technology to e-commerce sector can definitely be a very good idea for the whole system. Here comes the need of Blockchain technology for e-commerce industry which is capable of resolving all the challenges alone.