Any commercial transactions made through online is called as E-commerce. In a simpler terms, when you sell or buy something using the internet, then you are involved in e-commerce. It is a complex process which involves wide range of services such as supply chain, logistics, registration, payments, inventory management and much more. Businesses try many ways to simplify the intricate process and found that they procure the best positive result when integrated the distributed ledger technology called blockchain technology, the innovative technology that has taken the world by storm, with its powerful framework based on security, privacy and speed. Both e-commerce as well as blockchain are all about transactions, in which e-commerce depends on them and blockchain enables them to be more secure and fast with advanced features.
The blockchain technology is becoming the backbone of e-commerce and having the right techno partner is a must to take your e-commerce business to the next level. In that case, Blockchainappsdeveloper will be a reliable partner, who specialize in developing blockchain technology and build advanced solutions that open unlimited opportunities for your e-commerce business to compete in the global market. We are experts in unleashing the potential of blockchain and overcome the challenges involved in the business process.
E-commerce is an interesting domain where survival, sustenance and growth is quite complicated and challenging. Following are some of the challenges that an E-Commerce seller have to face on their regular basis.
In the e-commerce market, more and more sellers of all sizes are joining the industry at a rapid pace. The industry includes start ups as well as large businesses, offering similar products and services. So it has become highly competitive as the businesses have to adopt smarter tools and technologies to sustain and succeed the race.
Generally, in the e-commerce business world, middleman exists and they take away a large share of the earnings during the selling process. The seller has to pay certain amount as commission fee to the intermediaries involved in the process and this results in lesser profit and lower revenue of the seller.
Protecting a customers data is primary and most important factor for these businesses. If the customer’s trust level goes down, your business will lose valuable customers and as a result revenue decreases. To enhance security, usually the seller has to invest a lot to prevent hacking and save customer’s loyalty.
E-commerce includes a lot of complex processes such as supply chain, logistics, inventory, payments, etc. Managing these processes right from inventory stock availability to streamlining shipping and delivery functions, along with customer relation management is quiet challenging.
Blockchain technology, being a decentralized system, has the potential to bring a lot of benefits for the e-commerce industries. We are proficient in building robust blockchain solutions that bring a positive change to your e-commerce business. Explore few applications for blockchain technology in e-commerce.
Smart contracts are self executing digital contracts, basically a computer program that is stored on a blockchain. We are masters in inducing unique smart contracts programmed with custom rules, which can automate almost any e-commerce related process and reducing the human work load, resulting in growth of business.
Inventory management is most important and challenging process which has to be maintained with care. This process can be simplified by incorporating smart contracts as add-on feature into blockchain. We build smart contracts that not only manage inventory when a product is added to cart, but also ensures that the store never runs out of product.
It is mandatory to create product description and related images to show product description to the customers. This process is most time consuming and expensive part which is overcome by implementing blockchain technology, that can share information efficiently with suppliers, online store, and content creators, thereby consuming less time and cost.
Loyalty is offered to frequent customers as a reward. This loyalty programs can be automated and streamlined through smart contract. Being the best blockchain developer, we build exclusive smart contract which can offer a discount or issue reward points automatically by using the record of purchase stored in the blockchain network.
Supply chain is the key of e-commerce industry, where the chance for fraudulent is more and it might result in delivery of wrong or inferior product which will reduce your business value. Incorporating blockchain to supply chain will ensure transparency make sure that the vendors send the right product and track the product easily.
When blockchain is induced into the e-commerce payment, it brings transparency in transactions, thereby enhancing customers trust. We implement decentralized system that offers high security, traceability and faster processing speed, which can cut down additional cost involved in the process.
E-commerce industry has already revolutionized the current era with the help of internet and smart phone. Today, most of the e-commerce sellers started to integrate blockchain, to overcome the challenges. Here are some of the greatest advantages that blockchain offers the e-commerce industry