Blockchain will interrupt e-commerce

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The winter of 2017 was spectacular for the cryptocurrency markets, which reached an unprecedented high. Google Trends 2017 indicated that hot & nbsp; Bitcoin was the last year – it was the second most wanted topic in the global news category, while "How to buy bitcoin" was the third most sought after question "how"., just as spectacularly, the bitcoin crashed and lost 70% of its value ever since.

Today, the cryptocurrency is $ 8,000. Does this ring a bell? boom and bust that has shaken the world of technology and the financial market – the boom and the crisis of the dot com

On 10 March 2000, the dot com bubble has grown to a crescendo. some examples: & nbsp; Cisco has dropped from # 3 9; 86%. & Nbsp; Qualcomm which had grown by 2619% in 1999, also collapsed Their assessments have been destroyed in the coming months.

At the end of the 2002 stock market downturn, shares had lost $ 5 trillion in market capitalization & nbsp; from their peak. At its end of October 9, 2002, the NASDAQ-100 fell to 1.144, down 78% from its peak.

There are important similarities between these two descending phases. Consider how life was in 1995. Big banks often asked engineers like me, "Why does a bank like us need a website?" They ridiculed engineers and technology enthusiasts like hype-mongers. In 1997, however, the dot com boom had begun to change the language of banks and corporations, and the Internet became a tsunami in 1999. Like all tsunamis, the boom and the dot-com traffic left a lot of trash throughout the market. Yet, technology has survived. Every bank and every other company has moved on the web. Just as the dot-com crash has not discouraged the technology march, Bitcoin's fall from grace will not control the forward march of blockchain technology.

Blockchain is a decentralized and secure digital ledger, and we expect each sector to adopt some form of blockchain in the coming years. A Gartner forecast & nbsp; (registration required) says "the added value of the blockchain will rise to just over $ 176 billion by 2025, and then exceed $ 3.1 trillion by 2030."

A key sector that will undergo a tremendous transformation thanks to Adoption of blockchain is e-commerce. According to eMarketer's estimate retail e-commerce sales totaled $ 2.304 billion in 2017, up nearly 24.8% from the previous year. Furthermore, mobile commerce accounted for 58.9% of digital sales. & nbsp; This indicates that the flourishing space of e-commerce is ripe for an 'interruption through the adoption of blockchain.

When the democratization of information via web and browser took place, the clear winners were Amazon and similar companies that used the e-commerce exercise book. In fact, 1995 was the year that saw the birth of Amazon.com, as the much cited story suggests, in a garage of Bellevue . The e-commerce player did not survive the dot-com failure, but grew in the following years.

Now, with the mainstreaming of blockchain, Amazon and a group of similar e-commerce players will suffer a great deal of unease. There are two main drivers for this transformation.

1. Decentralization, As Opposed To Monopoly

As we all know, the monopoly of e-commerce by a handful of players is almost complete. There are virtually no challenges for existing players and the cost of change is too high. Normally, if you look at any industry, every time a quasi-monopoly emerges, a new technology emerges and upsets that industry. In 2007, Nokia was the king of mobile phones. & nbsp; Then came Apple, who was the least probable destroyer. Likewise, when IBM was the king of the computer industry, Microsoft emerged as the disruptor. Now the time has come for Blockchain to stop the e-commerce space. Blockchain technology essentially decentralizes control and ensures that trust is achieved without the need for centralized power. It also means greater transparency and power for the consumer.

2. Regulatory changes

One of the main regulatory changes came in the form of a general regulation on data protection (GDPR), the European law on data which came into force on 25 May of quest & # 39; year. The data protection law will have an impact on blockchain technology and e-commerce players. Whether it's GDPR or other regulatory frameworks, monopolies in the e-commerce world will suffer different types of attacks. The new regulatory changes will have a decisive impact on existing players.

How will these changes help the market? & Nbsp;

A good example would be Amazon, which has about 80 private labels, according to a report by One Click Retail a retail analysis company. & nbsp; As producers and producers begin to understand the extreme power of Amazon, they will react in different ways. This is the launching pad to stop the Amazonia monopoly.

Customers are becoming more aware of monopoly powers and have a profound interest in knowing the origins of a product, its sustainability and so on. This will result in a shake of e-commerce players, and many sellers could be filtered out. Furthermore, price control exercised by monopoly players will be an element of differentiation for customers. Greater transparency will mean that the customer is aware of what he is buying.

It has been observed that the foundations for building a large company are often placed during the years of the bust. History will be repeated. A new star will be born on the blockchain firmament, one that will change the landscape of e-commerce.

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The winter of 2017 has been spectacular for the cryptocurrency markets, which have reached an unprecedented maximum. Google Trends 2017 has indicated how hot it was last year Bitcoin: it was the second most sought-after topic under the global news category, while "How to buy bitcoin" was the third most "coveted" question, therefore, just as spectacularly, the bitcoin crashed and has since lost 70% of the its value [19659003] Today, the cryptocurrency is $ 8,000. Does this ring a bell? It certainly brings you back to another boom and bust that shook the world of technology and the financial market: the boom and the dot com crisis.

2000, the dot-com bubble had come to a crescendo, from there the markets have thickened: how far have they gone? Here are some examples: Cisco fell by 86% Qualcomm, which grew by 2619 % in 1999, crashed Their ratings were destroyed you in the months to come.

B At the end of the 2002 stock market crisis, stocks had lost $ 5 trillion in market capitalization from their peak. At its lowest on October 9, 2002, the NASDAQ-100 dropped to 1,114, down 78% from its peak.

There are important similarities between these two descending phases. Think about what life was like in 1995. Big banks often asked engineers like me: "Why does a bank like us need a website?" They ridiculed engineers and technology enthusiasts such as hype-mongers. In 1997, however, the dot com boom had begun to change the language of banks and corporations, and the Internet became a tsunami in 1999. Like all tsunamis, the boom and the dot-com traffic left a lot of trash throughout the market. Yet, technology has survived. Every bank and every other company has moved on the web. Just as the dot-com crash has not discouraged the technology march, Bitcoin's fall of grace will not control the forward march of blockchain technology.

Blockchain is a decentralized and secure digital ledger, and we expect each sector to adopt some form of blockchain in the coming years. A forecast by Gartner (registration required) says "the added value of the blockchain will increase to just over $ 176 billion by 2025, and then exceed $ 3.1 trillion by 2030".

A key sector that will go through an enormous transformation thanks to the adoption of blockchain is e-commerce. According to eMarketer estimates, retail e-commerce sales totaled $ 2.304 billion in 2017, up nearly 24.8% from the previous year. Furthermore, mobile commerce accounted for 58.9% of digital sales. This indicates that the flourishing space of e-commerce is ripe for an 'interruption through the adoption of blockchain.

When the democratization of information occurred via the web and browsers, the clear winners were Amazon and similar companies that used the gaming e-book. In fact, 1995 was the year that saw the birth of Amazon.com, as the much cited story suggests, in a Bellevue garage. The e-commerce player did not survive the dot-com failure, but grew in the following years.

Now, with the mainstreaming of blockchain, Amazon and a group of similar e-commerce players will suffer a great deal of unease. There are two main drivers for this transformation.

1. Decentralization, As Opposed To Monopoly

As we all know, the monopoly of e-commerce by a handful of players is almost complete. There are virtually no challenges for existing players and the cost of change is too high. Normally, if you look at any industry, every time a quasi-monopoly emerges, a new technology emerges and upsets that industry. In 2007, Nokia was the king of mobile phones. Then came Apple, which was the least probable destroyer. Likewise, when IBM was the king of the computer industry, Microsoft emerged as the disruptor. Now the time has come for Blockchain to stop the e-commerce space. Blockchain technology essentially decentralizes control and ensures that trust is achieved without the need for centralized power. It also means greater transparency and power for the consumer.

2. Regulatory changes

One of the main regulatory changes came in the form of a general regulation on data protection (GDPR), the European law on data which came into force on 25 May of quest & # 39; year. The data protection law will have an impact on blockchain technology and e-commerce players. Whether it's GDPR or other regulatory frameworks, monopolies in the e-commerce world will suffer different types of attacks. The new regulatory changes will have a decisive impact on existing players.

How will these changes help the market?

A good example would be Amazon, which has about 80 private labels, according to a report by One Click Retail, a retail analysis company. As producers and producers begin to understand the extreme power of Amazon, they will react in different ways. This is the launching pad to stop the Amazonia monopoly.

Customers are becoming more aware of monopoly powers and have a profound interest in knowing the origins of a product, its sustainability and so on. This will result in a shake of e-commerce players, and many sellers could be filtered out. Furthermore, price control exercised by monopoly players will be an element of differentiation for customers. Greater transparency will mean that the customer is aware of what he is buying.

It has been observed that the foundations for the construction of a large company are often placed during the years of the bust. History will be repeated. A new star will be born on the blockchain firmament, one that will change the landscape of e-commerce.

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