What is Blockchain Technology?
Blockchain is a decentralised digital public ledger for tracking economic transactions. It’s designed to record not only financial transactions but everything that goes in it. The best feature of a Blockchain is that it allows to view user’s holdings and the transactions that they have carried out over the system publicly.
Moreover, it also conceals the identity of a user via powerful cryptography. The decryption of the cryptographic code needs a long and challenging calculation, thereby, making it the safest way to transact money.
Challenges in the e-commerce Sector
Blockchain technology is transforming the ecommerce industry by decentralizing the control and cutting the existence of middleman from the landscape. But, before exploring the potential of Blockchain technology for e-commerce industry, let’s dig into the current challenges that the e-commerce industry is facing.
High Costs- One of the major pain point of a seller in the traditional ecommerce business model is the involvement of a middleman, who takes away a good share of money on every purchase. The seller has to pay the transaction processing fee for completion of each transaction.
Uncertain Security- Protection of buyers’ data is another key concern for these kind of businesses. The system needs to gain the trust of their customers and have to assure them that their personal and financial data is safe. The current state of the ecommerce industry fails to provide foolproof security to the users.
Time consuming- E-commerce model include an array of operations like supply chain, logistics, payment gateways etc. To manage all these operations e-commerce industry has to deal with this intermediates everyday. This consumes a lot of time to complete the whole process.
How Blockchain will Drive the e-commerce Industry in Future
Blockchain technology for e-commerce is a boom for not only the sellers but also for the buyers. Few of the challenges which can be addresses by introducing Blockchain in e-commerce industry are as follows:
Cost Reduction- With Blockchain, e-commerce industry can rely on the Blockchain technology for managing inventory, payment processing, product database and other business activities. This results in spending less on maintaining systems or hiring IT support teams to maintain them. Cryptocurrencies like Bitcoin, Ripple etc. will cut-down the fees that third party institutions like banks charge during transactions.
Cyber Threats- Despite of using a secure transaction network, the e-commerce industry is always at a risk of losing their customers data and money due to unwanted cyber attacks. Blockchain technology is a perfect solution for resolving these challenges. It provides highest level of security by using distributed ledgers for managing the e-commerce database management systems.
Fast processing- Blockchain technology for e-commerce is removing the dependency of middleman, manpower and third party organizations from the e-commerce model. It saves a lot of time consumed in the overall process ranging from inventory managing, to order placing to delivering at users door step.
Conclusion
These challenges have been bothering the sellers since the beginning. Thus, integrating Blockchain Technology to e-commerce sector can definitely be a good idea for the whole system. Here comes the need of Blockchain technology for e-commerce industry which is capable of resolving all the challenges alone.
Many e-commerce companies have already started investing in Blockchain technology to run their business smoothly. The day is not far when Blockchain technology will penetrate the whole e-commerce industry.
CrowdPoint Technologies
is using the power of the Crowd to democratize the Human Identity. We recognized that it was the global currency
of today. The Human Identity is unique and non-fungible CrowdPoint assigns both bullion and numismatic value to your information on our
NexGen Blockchain. Please visit our
website
for more details, Thank You.
OUR MISSION
Our mission is to unite AI, Compaction, and Blockchain technologies to DEMOCRATIZE Big Data in order to DEFEND and DELIVER dividends to YOU, for your HUMAN IDENTITY.
6 INNOVATIVE REASONS TO CHOOSE US
CrowdPoint
is an end-to-end Digital Platform Provider. The Digital Platform we proved is an interconnected BlockChain Ecosystem that is organized using the Global Industry Classification Standard (GICS). Our Blockchain taxonomy is developed for use by the global business and financial community. We vertically and horizontally integrate 11 sectors, 24 industry groups, 69 industries, and 158 sub-industries in order to categorize all value add transactions on our NexGen Blockchain codenamed: Hitchhiker.
01 ICP At Scale
Continuous Ideal Customer Profiles engaged in continuous ideal transactions.
02 Simple CTA
Data Science meets Social Science for Call To Actions that convert continuously.
03 Powerful Performance
Our AI leverages common sense using Human-in-the-loop rule reviews.
04 Democratize Big Data
We decentralize the 4 V’s of Big Data to provide the 5th V: Value.
05 Defend Information
Data + Value = Information. Human Identity is information. We decentralize and defend it.
06 Deliver Dividends
CrowdPoint delivers dividends for the Decentralized ID based on numismatic value.
UR PROJECTS
CrowdPoint is partnering in the creation of 11 Sector Exchanges with forward-thinking and proven CryptoCurrency Market Leaders. Today we are shaping the future of Blockchain from simple liquidity and speculation to foundational economic principles based on supply chain transformation and transactions.
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CrowdPoint is an assembly of successful entrepreneurs with multiple technologies and business exits. We are effective leaders that know what it takes to build strong teams within a business and ensure projects, initiatives, or other work functions are performed successfully.
Our leadership team is servant leaders focusing our efforts on our Primary Customers and our Secondary Customers. We are dedicated to ensuring exceptional customer engagement while exceptional partner enablement. We focus on the consistent deployment of these 4 Technologies: