Blockchain for E-Commerce

Online shopping is very common now a days. The development of the world economy in the last few decades is remarkable number with the change of The E-Commerce and commercial globalization. E-Commerce is basically an integral part of our daily life because we want to purchase many of the things online just from our home. This is a good system which has changed the world economics rapidly with some positive impacts but there are some problems with the systems like the trust between the parties and the security system of The E-Commerce. The blockchain technology has the solution of these problems.

Blockchain has some good features that can help in gaining trust between several parties. From the early days of simple online storefronts to today's sophisticated global marketplaces. As this industry has grown, so too have the challenges it faces, particularly in trust and security. This is where blockchain technology can have a better solution.

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Blockchain is basically a distributed ledger technology that records transactions across multiple computers in a way that makes them tamper-proof and transparent. Information on a blockchain is stored in "blocks," which are linked together in a chronological ‘chain.’ Each block contains a list of transactions. Once a block is added to the chain, it cannot be altered, ensuring the integrity of the data. But one of the most significant challenges in online shopping is establishing trust between buyers and sellers because they don’t meet each other directly.

Blockchain technology addresses this issue by providing a transparent and immutable record of every transaction. In next post I shall share some of those ways how blockchain can help here in different angles.