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One thing that happens almost as frequently as the sun rising in the east in 2019 is online trading. Widely known as E-Commerce, online or digital trading as been on the high rise in recent years and is already an established system. Buying and selling goods online is as normal as the blue colour of the skies, the question now is how can problems in E-Commerce be solved?

Thanks to Satoshi Nakamoto, blockchain was invented in 2008 and is now seen as a solution to several problems in almost every aspect of human life. Trading is one aspect, E-Commerce more precisely, as online trading is dependent on transactions and blockchain actually improves transactions, making them faster and safer.

Below are some ways in which Blockchain betters and optimizes e-commerce.

Crypto Payments

Blockchain is dwelt upon by digital currencies known as Cryptocurrencies which can be used in place of the traditional currency/money that the world is used to. Cryptocurrencies have proven to be better means of payment than the conventional currencies used. This is largely because crypto payments are generally fast, user friendly, a lot more secure and free of third party fees.

As a result of this, if cryptocurrencies are used for e-commerce payments, trading would definitely be improved for both consumer and merchant.

Accelerated Transactions

Conventional currencies and payment methods usually involve ambiguous processes, causing users to go through series of processes in order to make a single payment, and these methods also involve several third party which means fees as well. If blcokchain is imbibed into e-commerce, transactions would be faster and easier as all transactions on blockchain take place on a single network and the speed of the transactions is dependent on the network.

A lot of blockchain platforms allow millions of transactions to be carried out at the same time. This will be of great benefit to buyers and sellers.

Blockchain also ensures that middlemen are well cut out and transactions are direct from buyer to seller.

Consumers Have Control Over Purchasing Data

In recent times, e-commerce sites provide their customers with personalized experiences and this is done by monitoring purchase behaviour of consumers and using their personal data to serve them and give them that higly personalized experience. This is good development actually, but not every customer would like to be monitored, irrespective of the experience the e-commerce sites give them.

A lot of people cherish their privacy and would not be so welcome to shopping sites observing all their activity. This is not the case with blockchain. Blockchain provides customers with more security and anonymity making it impossible for consumers purchasing data to be observed or collected. If e-commerce sites are built on blockchain, there would be no centralized authority collecting or observing purchase behaviour, the power would rest solely in the hands of the consumers.

E-commerce needs blockchain for significant improvement and blockchain technology in e-commerce promises to be very beneficial to both merchants and consumers. Tell whoever is in charge to get in on it because blockchain will better e-commerce!