Blockchain is often regarded as one of the most disruptive technologies of the 4th industrial economy revolution. Since its introduction, the technology has been swiftly employed across multiple industries including entertainment, energy, artificial intelligence, payment and so forth. E-commerce industry is no exception.
The e-commerce industry has experience explosive growth over recent years and has fundamentally transform how we live and shop. However, as the scale of the industry expands, associated issues start to emerge. Some of these issues are related to supply chain management, inventory control, product management, data security, marketplace transparency, high cost imposed by middlemen, customer satisfication to name a few.
The introduction of blockchain aims to disrupt the industry by creating a decentralized platform that strive to provide solutions to the aforementioned problem by eliminating middlemen in all transactions, streamlining and reducing the complexity of management and tracking as well as providing a more pleasurable online shopping experience for the consumers.
A few top cryptocurrency / blockchain projects currently attempt to transform the world of e-commerce includes:
Disclaimer: The purpose of this list is not to pick the ” best ” cryptocurrency. The fundamental purpose of this list is to encourage community engagement and intellectual debate among the supporters of different cryptocurrency projects. We provide a third-party platform that hopefully makes people think. Too many times people are blinded by the community enthusiasm in official social media channels of individual projects and fail to see through the veil. By bringing supporters of different projects together, we hope to unravel the actual value and sentiment of each project via civilized debates. p.s. Nothing in this article should be treated as financial advice.
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This is a deep learning blockchain platform that allows large online shopping corporations like Amazon and eBay to track customers’ habits when shopping. Shopin will allow e-commerce service center understand a customer’s habit based on their choice of product, style, likes, and prices. Consumers can also allow these companies to access their personal data and profile in exchange for rewards.
Eligma is the first artificial intelligence driven and blockchain-based e-commerce platform that allows users to find, trace, buy, and sell their products online. With Eligma users spend less time online searching for a particular product as the platform streamlines their search at a global scale and making online shopping pleasurable. The platform will provide users with a universal loyalty program which is entirely decentralized and help in transforming every household into a business.
Omnitude provides a blockchain based technology that will integrate existing e-commerce platform into blockchain without changing the original scope of the enterprise. It is a project with a radical concept that essentially provides a plug and play blockchain developed on Hyperledger Fabric that enables ntegration across the entire spectrum of enterprise level ecommerce platforms .
This is a decentralized mobile shopping platform giving the control of online mobile shopping experience back to the customers than third parties that enjoy all the benefits. It is a digital platform where the buyers, merchants, store owners, and consumers benefit from shopping online. Wysker allows users to gain Wysker token via products viewing which are easily exchanged for cash on its platform. Consumers’ data are also collected without compromising their privacy to improve their online mobile shopping experience.
Bezop is a decentralized platform that enables anyone to set up a professional e-commerce store like Amazon and start accepting payments in cryptocurrency within minutes. No programming knowledge is needed. Bezop features a novel proof of order which essentially reduce the fraud rate for both client and merchant via carefully designed Ethereum smart contracts.
Aida service is a decentralized blockchain technology platform that is bringing supplies of goods and service directly from the manufacturers to the consumers without a third party. Aida services aim to solve the problem of tracking goods and services through an automated service system that unites customers and provides by providing the information needed quickly and on time.
- Ticker Symbol: AID
- Token Types: ERC 20
- Website: https://ico.aida.market/
- Whitepaper: AIDA Service Whitepaper
BitRewards is a loyalty platform based on the blockchain technology where customers get rewarded for their loyalty with the BIT cryptocurrency. It allows customers to build up rewards points easily and collect the equivalent in digital currency and rather than having it expired or get wasted, the rewards appreciate over time.
- Ticker Symbol: BIT token
- Token Type: ERC 20
- Website: https://bitrewards.network/
- Whitepaper: Bitrewards Whitepaper
The Vestarin platform is created for VST cryptocurrency holders to easier spend or transact business with their coins. It allows shop owners, businesses, services, restaurants, and all business traders to receive payment via cryptocurrency without changing it to cash.
E-commerce and blockchain are all about transacting services. However, the introduction of this technology to e-commerce creates a decentralized system that gives consumers and merchants more power and control over the markets to gain rewards and avoid third parties.