E-commerce website has to follow the trends, the high volume of competitors forced website to be on top of innovation. Bitcoin has growth with illegal transaction at its beginning but it is now going mainstream. Bitcoin is based on the Blockchain but they can bring you both benefits.
Advantages for E-commerce
The main advantage for companies specializing in e-commerce is to offer transactions without intermediaries, and therefore commission payments to any platform, a bank or Paypal. For e-merchants carrying out many transactions from abroad, the abolition of transaction costs could result in a saving of 4% on their turnover. For professional sellers, it’s also a way to attract new customers, opening up to the growing market of bitcoin owners, and internationalize their sales.
Merchant Bitcoin adopter can see it as a way to promote their stores and take a massive advantage over their competitors. In a global market earlier adopter can easily improve their brand image for many years.
For e-merchants, these two technologies represent a real paradigm shift. The prospect of an online economy in which all intermediaries would be eliminated, for direct exchanges between sellers and customers, is of interest to many. The applications are numerous and only a few of them are mentioned today, because of the relative youth of this technology. Companies working in the banking, insurance and e-commerce sectors are the first to be impacted.
What if it is the future?
If by chance this virtual currency and related technology were to become widespread in the years to come, it would be possible to consider a radical change in the field of online commerce. New commercial applications would undoubtedly be offered to the public, with the common point of rendering completely obsolete platforms receiving commissions in transactions between merchants and customers. The risks of bank fraud would likewise be considerably reduced. Such a change would make it possible to set up a “sharing economy” within which banks and collaborative platforms would no longer have their place. All sectors including intermediaries collecting commissions would be disappear focus will be on efficiency.