Sunday, September 15, 2019

Blockchain could offer a great shopping experience, here's how.

How Blockchain could offer a great shopping experience



We are in an era where we can simplify almost everything. How about eCommerce? Crypto is not easy and there are a lot of hurdles as well. Normal eCommerce sites don't really simplify the process of buying and selling. Retail product companies have often struggled to get the best pricing on components, materials, and parts as well as connect directly with manufacturers that will deliver quality every time. A lot can be done with the blockchain technology. We use blockchain for certain tasks depending on what we want. You can incorporate other technologies like AI for some functions you want. 

A better eCommerce experience

1. Decentralization -  no one controls the network. One key feature Blockchain can offer is transparency. This can create a trusted brand on the network. In order to change the underpinnings of the experience like requesting personal details from users who are mostly verified by humans. Blockchain app could simply let you confirm an order/payment once a confirmation has been received from the network.

2. Rewarding loyal customers  & better pricing - The process of pricing involved with the middlemen of the centralized system. It simply meant higher pricing and low profit for customers. Blockchain will change the game for unique electronics and connects retail companies directly with device manufacturers. All you need to do is verify your identity.

3. Distributing infrastructure & maintaining data safety - so no one can access your data without you knowing or without your permission, Blockchain ensures data is connected to each partnership and oversees the ordering and delivery system. Additionally, it can even handle an arbitration system for the marketplace to resolve any issues between the retailer and the manufacturer.

4. Validating Product Authenticity - Finding counterfeit goods on one legitimate retail sites may be surprising. This has gone to become a global issue. The Blockchain technology can shut the usage of fake merchandise on these platforms. The technology will track and verify the product's entire life cycle. The authenticity is simply as a result of the transparency on the network. Consumers get access to data collected during the verification.

Blockchain technology is renowned for its security, but any number of blockchain-powered e-commerce startups can prove its abilities far beyond locking down your files and passwords. It's just a matter of time before investors in the financial sector start paying attention to this emerging technology. In summary, this can eliminate the repetitive and manual task to improve user experience. Blockchain technology will spread in no time as it will be extensively used across all industries. Here are some relevant companies active in the space - Monetha, AORAUbcoin MarketRAVELOUS. These are just a few, there so many startups out there.

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