The e-commerce industry has grown notoriously with thousands of buying and selling every hour on the internet. e-commerce is basically the electronic buying and selling through the internet which is accompanied by the transfer of funds and allocation between the buyer and seller.
Noticeably, this notoriously profitable e-Commerce industry is mostly dominated by a few big players. This centralized power and authority mean that the selected few get to dictate how the market is being run. No matter how small or large the business is, the profit at the end of the day is the main aim of the different businesses. With the centralization of power with these few, their profit margin will surely soar higher and the customers remain hassled.
The e-commerce industry has grown notoriously with thousands of buying and selling every hour on the internet. e-commerce is basically the electronic buying and selling through the internet which is accompanied by the transfer of funds and allocation between the buyer and seller.
Noticeably, this notoriously profitable e-Commerce industry is mostly dominated by a few big players. This centralized power and authority mean that the selected few get to dictate how the market is being run. No matter how small or large the business is, the profit at the end of the day is the main aim of the different businesses. With the centralization of power with these few, their profit margin will surely soar higher and the customers remain hassled.
How Does Decentralize eCommerce Help?
The decentralization of the e-commerce industry may offer a new way of doing things. The fees required for trading on these e-commerce platforms are reduced on the decentralized platforms as compared to the centralized platform.
The decentralized e-commerce platform also allows for merchant participation in the decision made on the platform such as the use of the technology, how the marketplace is being run and the regulations etc.
Furthermore, the decentralized e-commerce channels offer instant transaction of goods and services that do not require a centralized administration for the authorization of these transactions. It provides security for these transactions and an immutable ledger which is used to track which trades were made and which were not.
Other advantages may include global scale reach, openness in trade and a personal secured data when trading on these platforms.