Blockchain-Based E-Commerce: A Review on Applications and Challenges (original) (raw)
Related papers
The impact of blockchain on e-commerce: A framework for salient research topics
Electronic Commerce Research and Applications, 2021
Blockchain-based technologies are predicted as major disruptors for numerous business applications and processes, which bears huge implications for e-commerce. Given the ability of blockchain and related technologies to create so-called “trustless systems” with idiosyncratic properties, various business models and established processes that have emerged over the years to ensure trust, reliability and enforceability in business-to-consumer (B2C), business-to-business (B2B), business-to-government (B2G) and consumer-to-consumer (C2C) relations need to be questioned and potentially adjusted. Blockchain has the potential to shake the foundation of e-commerce by enabling exchange relations that are trustless and operate without dedicated intermediaries or even central authorities in the case of permissionless blockchains. Furthermore, the exchange of information and value between companies and consumers might change considerably by enabling unified access to immutable data along the entire supply chain. In this paper, a framework and 19 high-level research questions are developed to inspire researchers to closely investigate the potential impact of blockchain on e-commerce. The main categories include (a) technological, (b) legal and (c) organizational and quality issues as well as (d) consumer issues. This paper illustrates how blockchain potentially impacts different elements of e-commerce in these respective areas.
Blockchain Technology in E-commerce Platform
International Journal of Management , 2020
The growth of the Internet introduced new ways on how customers receive services and how companies run their operations. In the current days internet connection and relevant services that it provides are essential for the majority of people. One of those services or industries is ecommerce. E Commerce involves transferring a large amount of sensitive data such as private customer's information or financial information. As a result it attracts cybercriminals who are willing to breach into the system and steal the data. The number of cyberattacks increases along with the ecommerce growth and therefore it raises the concern in the secureness of databases of the ecommerce platform. Organizations must ensure the secureness of the data as it contains private information of customers, working staff and transaction records. The data breach not only significantly damages the company's profits but also it will sabotage the clients' trust to the platform. In order to solve this problem, enhance data security and protect valuable data, a blockchain database management system is proposed. The proposed system addresses the issue by introducing blockchain nodes concept into the database and inheriting data secureness of distributed peer to peer connection.
International Journal of Current Research and Modern Education (IJCRME), 2024
Blockchain technology offers a transformative potential across various business sectors, particularly in enhancing transparency, efficiency, and security. The objective of this study was to evaluate the opportunities and challenges associated with blockchain adoption in supply chain management, financial transactions, and data security. Using a qualitative methodology, the research analyzed case studies and industry reports. Results showed that blockchain improved transparency in supply chains by 70% and reduced counterfeit products by 30%. Additionally, blockchain reduced cross-border payment times by over 90% and transaction fraud in the financial sector by 45%. However, scalability and regulatory uncertainty remain significant barriers, with 65% of businesses citing these as major concerns. In conclusion, while blockchain presents substantial benefits, its broader adoption is constrained by technical and regulatory challenges. Key Words: Blockchain, Supply Chain, Financial Transactions, Data Security, Transparency, Scalability, Regulatory Barriers.
Blockchain Technology Used by Entrepreneurs in Online Trade
2020
Blockchain technology is used by entrepreneurs as an inovative tool in online trade so that they can handle the problem of traceability of the product in the management of the supply chain. This research want to be a cross-border between blockchain, ecommerce all made in the entrepreneurial environement. In the end it will be a set of methods and algorithms that are developed for the information encryption and for anticounterfeiting. There will be presented algorithms and methods to show a complete and working solution, which are evaluated by applying to several typical problems and attack cases. The effectiveness, extendibility, security, implementation and governance issues of applying these algorithms,methods, solutions are also discussed. This research contributes to the theoretical and practical literatures on blockchain technology, cross-border e-commerce and supply chain management research fields.
The potential of blockchain technologies for digital marketing -A critical assessment
Enrichment: Journal of Management, 2023
Blockchain is an emerging technology that is already finding applications in various sectors of economy, governance and trade, due to its attractive features of transparency and auditability. Digital marketing and advertising, i.e., the promotion of goods and services via digital media is currently a multibillion-dollar market with an increasing growth rate and crucial to the global economy. The potential of blockchain technologies for digital marketing applications has been recognized the last few years by both researchers and practitioners in this sector but, at the same time, large scale commercial applications have yet to be developed. This review, after briefly addressing the major challenges of the digital marketing ecosystem and the fundamental components of blockchain technologies, critically reviews academic works published the last 5 years in this field and highlights the current status, research topics and frameworks suggested. Moreover, the review addresses the main barriers to implementation of blockchain to large scale adoption in the digital marketing and advertising sector.
Advanced Use of Blockchain for Business and Marketing Improvement
A progressively augmenting demand for trust is observed within the global business environment of 21st century. Recent research sheds light on the disintegration of trust to brands on a global scale. Traditionally, trusted third parties take place to guarantee the trust needed for various business exchanges to take place. Digitalization, propels in peer-to-peer systems and cryptographic techniques have progressed to a point where transactions of currency, like Bitcoin, indeed esteem as within the case of ownership, property rights, securities, etc. can be conducted all over the Web with blockchain technology acting as a trust layer injected into the protocol. Blockchain technology acts as the missing trust layer in the evolution of the Web. "Blockchain is to trust as the Internet is to information". It can be regarded as the missing trust layer on Internet protocol. The implications of blockchain technology on business and marketing discipline from various aspects are investigated in this paper. Blockchain can be a favorable instrument that empowers brands and clients alike to bypass middlemen and to fashion concrete business bonds. Blockchain enables marketers to obtain reliable data, generate more enhanced analytics, and thus to craft compelling marketing campaigns. In a blockchain-based marketing ecosystem, loyalty programs can be fully integrated and improved. The paper also points the key procedures that marketers need to utilize in order to compete in the rapidly evolving business landscape. Conclusions are drawn about the expected direction of business and marketing improvements as affected by these technological advances, resulting to an established perception that Blockchain technologies can profoundly change positively the economy, the society, the political institutions, and scientific activities.
Blockchain Technology in the Digital Marketing Sector
Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA)
Similar to the internet, blockchain technology could be the next digital revolution. Blockchains offer tremendous potential, which is why numerous businesses have begun implementing this technology. With the internet enabling the transmission of information, blockchain enables the communication of value. Blockchain is not only associated with cryptocurrencies; thanks to this technology, businesses may increase brand value. As blockchain is a developing technology, there are still numerous possible applications. This has prompted us to investigate the viability of implementing blockchain in the marketing industry. This study examines the application of blockchain technology in the digital marketing industry. This study employs a qualitative approach and descriptive methodologies. The survey results indicate that blockchain is very effective in digital marketing since it may increase consumer trust. This is because blockchain technology guarantees the honesty and integrity of data. In...