News

Blockchain Application In E-Commerce

The trend of online shopping is gradually climbing to a golden peak with global sales expected to reach $ 4,479 trillion by 2021, but there are still gaps. What are the turning points of Blockchain application in e-commerce?

In terms of value, the countries with the top economic power, including China and the United States, are still the countries that contribute the most. However, in terms of speed, Thailand, Malaysia and Vietnam are the most growing e-commerce markets, of which Thailand leads with 104%, Malaysia 88% and Vietnam 69%.

WHAT IS HAPPENING WHEN THE BLOCKCHAIN ​​APP IS INTO E-COMMERCE?

With the application of Blockchain technology, the e-commerce industry will solve many problems:

- Better security mode thanks to all information stored on the invariant Blockchain, safe and secure.

- Limiting costs: Clear transparency by Blockchain will create confidence for the market.

- Faster transaction speed: Through smart contracts, all transactions with the e-commerce system will be carried out quickly. Significantly shorten transaction time.

The strength of blockchain application in e-commerce

With the application of blockchain technology , the e-commerce industry will be able to overcome a series of outstanding shortcomings. One of the strengths that this new technology brings is:

Ưu Optimal security mode: blockchain application in e-commerce will ensure information security. Because all information stored in Blockchain is immutable, safe and secure. No one can hack or steal information on Blockchain.    

⦁ Limiting costs: thanks to the transparency, obviously by Blockchain, it will create a certain confidence from the market. Investors will now be able to reduce part of the cost of advertising items.    

Nhanh Faster transaction speed: through smart contracts, all transactions at ⦁ e-commerce system will be executed quickly when matching orders. Helps shorten transaction time for consumers.        

EXAMPLE OF BLOCKCHAIN ​​APPLICATION IN E-COMMERCE

Some famous applications of Blockchain in e-commerce:

- Rakuten Electronics is a rival of Amazon in Japan, which has integrated Blockchain technology into online shopping services with loyal customers through Rakuten Super Points system with Rakute Coin.

- VRC Market in Singapore market is fully utilizing Blockchain technology with smart contracts when making transactions and payments on its exchange.

- E-commerce firm JD.com has announced a white paper about its plan to apply Blockchain technology in e-commerce.

Blockchain application programming service in e-commerce

In order to meet the needs of Blockchain application programming,  E-GROUPS Vietnam provides programming services to develop Blockchain applications in many fields such as e-commerce, agriculture, industry, healthcare, education and finance.

With a team of experienced Blockchain research engineers will help you get a professional and effective Blockchain application.

So if you want to develop Blockchain application, don't hesitate to contact  E-GROUPS Vietnam.

Contact information

EG VIET NAM TRADING SERVICES COMPANY LIMITED

 Address: 22 Quach Vu Street, Hiep Tan Ward, Tân Phu Distrist, HCM City

 Phone: (+84)86 705 74 79

 Hotline:  (+84)86 707 74 79

 Email: info@egvietnam.com