Blockchain and E-commerce | Electronic Shopping at Scale
#Block1
June 2019
The phrase, “The 4th Industrial Revolution” has been making its rounds of late. Why? Well Blockchain of course! Digitization! The changing of a payment system, how we transact. But now this is not new, as humans we have evolved from standing in banking queues, to online banking, to APP’s where we can do everything from our phone.
I know the older generation still finds this concept a little difficult but that is normal as generations move through development. Blockchain is nothing different. It is just another Technological improvement that will make things we need doing happen faster, more securely and with immutable traceability, back the data.
Digitization, from a normal perspective, basically means Fiat or Paper Money has a doubtful future. The current internet is being rewritten into a Web developed Ledger that surpasses the wildest dreams of most IT working people today and the possibilities of its power have not even begun to take shape.
Blockchain Technology is under constant development and as ledgers with an immutable proof of concept certainly, have captured The world’s largest public companies attention with all of them in the top ten either having started on-boarding or researching and employing specialists to start building their own Blockchains.
In short, if you go research all the names in the top 50 of the worlds largest companies you’ll find that most of them are in the process of crossing over to a Blockchain. Does this mean that everyone else will have to cross over to a Blockchain in due course? Yes, it does.
With Amazon and Walmart sitting snug at number 28 & 29 respectfully makes E-commerce a very big part of what Blockchain services need to capitalize on.
They have certainly started their processes of on-boarding a Blockchain infrastructure and this as a trend always means it will just filter down. As an Investor or a Company CEO or a Director of a company, it means that if you haven’t asked yourself the question:
I have or am part of an E-commerce business, how will I stay compatible with doing business with Amazon or Walmart in time to come? Which Blockchain must I start looking at and will that even be compatible? Will Amazon and Walmart force me into what they are doing or can I run my business on an independent Blockchain but not be restricted?
To understand why new blockchain technologies are being built and will continue to evolve we have to look at the shortcomings of the older ones.
The Digitalization of Financial Institutes, Insurance, Supply Chain, Governments, Medical, IOT, Identity, Asset Management, and Payments is in the process of happening and this part is really amazing, it's happening now! It means it is time to take stock of your Company and Function in Society and learn how and with what tools you will Cross over to the new World of Blockchain Technology.
I have found in the past that settling with a well-researched Blockchain is like understanding the rules of a game, and the better you understand the rules the better you’ll do at the game. Not for any other reason but that you understand the underwritten criteria of what is possible and therefore be able to utilize it in a very special way.
In Supply Chain I have seen numerous large Blockchains recently step up their footprint as their Technology advanced closer to on-boarding of clients.
The gap lies under the Supply Chain category, with not many platforms being developed in the subcategories section like E-commerce, etc.
Other than DAPP’s on, for example, the Ethereum Blockchain, there aren’t many if any Blockchain Solutions pinpointing the E-commerce sector, a sector which is the future of shopping if I go by statistics over the last 3years.
Here is an example:
Here I have to note that any however great a DAPP on a Blockchain, will always be restricted to that main Blockchains boundaries and limitations. This, of course, is fine but limitations might be a frustration once your business starts scaling and grows 2 / 3 times in size.
Envisage your future operation and build its foundation on that principle to allow your employees, the people around you to facilitate it.
Blockchain Solutions that have quietly and methodically built their Technology in the background have been able to study and see from the outside other Blockchain limitations. One such a Blockchain I found is aBey
With the digitization of world economies, it seems obvious to me that Generation Z will be more at ease paying for there goods through their mobile Crypto Wallets. Combine this with a secure E-commerce service with the built-in nature of a Blockchain with a fair and secure distribution of Digital Currency is so appealing to a young generation seeking empowerment.
We will be doing E-commerce an injustice if we didn’t put this important subcategory on a Blockchain.
As an example, aBey Blockchain brings you this safe environment that allows you to shop from a trusted merchant or affiliate approved partner in the Blockchain Protocol.
It is one of my goals to explore the different facets of Blockchain Technology and how protocols like aBey aim to bring a package together that will provide a fair, precise distribution of Consumer Goods and Digital Assets with opportunities to earn income and or invest as a liquidity provider at scale.
By Morne Olivier
#morneolivier
Content Creation | Digital Marketing > Blockchain Technology.
