Blockchain innovation is considered nothing less than the most challenging innovation. The world has never observed an innovation as great as blockchain, and it can influence all zones of the economy, which will change it through outstanding capability.
While Blockchain is all set to revolutionize the e-commerce completely, the number of merchants who accept cryptocurrencies are still on a lower side – Just when you thought how to solve this problem, Agate, which is a comprehensive set of decentralized blockchain solved this problem. You’d ask how – Agate is capable of integrating itself with possible every e-commerce merchant globally.
Agate is unarguably focusing on the ‘change’, and anticipated to have the most remarkable effect on consumer and vendor activities every day, is the internet business industry or e-commerce industry. The development of E-commerce sector has been commendable. Regardless of its reasonable reputation and entry into the market, e-commerce has disadvantages.
In this segment, we will feature the various issues emerging before the internet business industry and shortly how they can easily be solved by the unmatched functions of Agate –
Traditional E-commerce Disadvantages
Blockchain can offer reliable solutions to the challenges facing by the e-commerce industry. But before discovering these possibilities, we need to understand the challenges and complications the e-commerce sector faces.
- The major pain point of vendors is that there are mediators in the traditional business model which take a large part of the income during the sales process. Creditors have to pay the exchange handling charge to speed up the payment for the completion of the transaction.
- Consumer information security is another critical worry for these organizations since they have to build the customer’s trust that their personal and financial statements are entirely secure. Hence, vendors often have to pay a massive amount of money in data encryption and different measures to anticipate hacking.
- E-commerce deals are a complicated procedure because it includes a series of operations such as logistics, supply chain, payment, etc. The administration of these operations and the inclusion of the arbitrators is another crucial challenge for the industry.
Let’s see how Blockchain technology is changing the face of e-commerce.
Solutions through Blockchain
Even though the e-commerce business’ positive effect on the worldwide economy, things have not been brilliant for its platform because it has been battling with challenges from the beginning. Blockchain Technology can solve these challenges and can provide a safe technical backbone to the e-commerce industry.
Trust and Transparency: Most e-commerce businesses confront troubles like losing clients’ information and millions of money due to digital assaults. Another substantial preferred standpoint of Blockchain web-based business is that it is ideal for understanding these difficulties and acquires transparency in transactions, which promotes confidence. Every trade or data is stored in a mutual record and can’t be adjusted by anybody. They offer high-security and faster processing with the simple tracking process through the decentralized framework.
Advanced operational capability: Blockchain is fit for sorting out tasks and driving productivity because it has a decentralized model. For instance, Blockchain can help suppliers and the end customers record price, quality, and certification of goods increasing the traceability and transparency within the system. Smart contracts are used to control the central authorities. The innovation encourages reconciliation with different administration frameworks and streamlines the work process also.
No more mediators: Using blockchain innovation merchants will have the capacity to get the sum straightforwardly to their financial balance with no mediators who takes a considerable amount of profit.
We all concur that the present e-commerce business suffers from errors and has an enormous opportunity to get better. Also, for these upgrades, blockchain can be merely imperative. Blockchain can do a streamlined business that resounds with your group of onlookers and enhances your companions who are still battling with the traditional ways of doing online business. We can state without any doubt that blockchain, isn’t a threat to e-commerce, yet an innovation that has the capability of developing internet business into a higher, more useful global enterprise.
To find out more, visit https://www.agatechain.org/
Read the white paper here.
Name: Hamed Taghvaei
Email: [email protected]
TG Group: https://t.me/AgateChain_Group