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Blockchain for E-commerce
E-commerce behemoths such as Amazon and some brick-and-mortar retailers, including Costco and Target, have practically spoiled customers with lower prices, numerous product options, and accelerated shipping. So, what is it that could help bring the global consumer market to a greater level? One answer to that could be blockchain technology.
Although DLT (distributed ledger technology) was initially intended for virtual currencies, the technology has gone way past that point and can include various other applications, with retail or e-commerce being one of them. Here, blockchain technology can be implemented nearly everywhere, from accelerating shipping to enhancing food supply procedures, and more, which will be discussed below.
Reducing Shipping Costs
Blockchains can be utilized in the monitoring of shipments and parcels, which can help decrease shipping expenses within the e-commerce industry, saving a ton of money for online retailers. This is because, through a distributed ledger, shipping firms can easily keep track of shipments from their origins to their destinations with a lot more accuracy…
