Home » Blockchain, Bitcoin, and E-commerce
Current forecasts suggest that global blockchain technology will experience massive revenue growth in the next decade. According to Statista, the market is expected to climb to over $39 billion by 2025. Over 60 percent of the financial sector has already invested in blockchain, making its market value concentrated in this field, and there are no signs of it slowing down. Although blockchain has long been mainly associated with Bitcoin, its potential is quickly being recognized by other industries. According to Gartner, blockchain will generate $3.1 trillion in new business by 2030, and even though mainstream adoption may not occur until 2023, businesses and organizations that become acquainted now will definitely benefit from doing so.
Blockchain creates a level of consensus-based trust and achieves transparency without the need for a central authority. The decentralized ecosystem offers a dynamic checks-and-balances structure that is exceptionally secure. While enabling consumers to connect with companies or even other consumers, thereby eradicating the middleman from the transactional process. All transactions are instantaneous and completed transparently, and the digital ledger is automatically updated.
In the world of online shopping, every brand owner knows a single data breach can cost E-commerce retailers millions in revenues, not to mention the costs of brand sovereignty. Blockchain’s DLT and transparency across the ledger offer a level of security that to date is unprecedented. This means no middleman fees and unlimited savings on data breaches for online database platforms.
Another extremely important advantage of blockchain in E-commerce is that it fosters trust, as the authenticity of every transaction is vetted and confirmed by participants. Every transaction is documented in a shared ledger and cannot be modified once conducted, offering revolutionary transactional visibility. As we consider the global climate in today’s marketplaces, trust is not a minor thing when shoppers choose where to buy.
In the world of online shopping, every brand owner knows a single data breach can cost E-commerce retailers millions in revenues, not to mention the costs of brand sovereignty. Blockchain’s DLT and transparency across the ledger offer a level of security that to date is unprecedented. This means no middleman fees and unlimited savings on data breaches for online database platforms.
Another extremely important advantage of blockchain in E-commerce is that it fosters trust, as the authenticity of every transaction is vetted and confirmed by participants. Every transaction is documented in a shared ledger and cannot be modified once conducted, offering revolutionary transactional visibility. As we consider the global climate in today’s marketplaces, trust is not a minor thing when shoppers choose where to buy.