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Blockchain technology provides convenient solutions to cyber threats and financial security issues, as well as reducing fees for inventory management and payment processing.
The exciting thing about blockchain technology in e-commerce is that it can be a win-win for both retailers and buyers. Blockchain technology provides convenient solutions to cyber threats and financial security issues, as well as reducing fees for inventory management and payment processing.
Cut costs
With the help of blockchain technology, e-commerce businesses can easily combine inventory management, payment processing, product descriptions and images with other business activities. In return, they can spend less on maintaining the systems that facilitate these activities or hiring IT support staff to maintain the systems.
Blockchain now allows millions of people to conduct digital transactions without using a bank account or payment transfer software. In this case, each block contains data related to the transaction. Using traditional methods, transactions are processed by banks or payment transfer tools such as PayPal. This may incur additional charges to cover third party fees. But blockchain completely eliminates the need for third-party participation, and cryptocurrencies like bitcoin lower the fees that banking institutions charge to facilitate transactions. This means lower transaction costs. This is what experts call a decentralized marketplace.
Enhanced security
Data breaches and fraudulent transactions are major concerns for e-commerce retailers. According to PwC’s 2020 Annual Global Economic Crime and Fraud Survey, 47% of companies experienced fraud in the past 24 months, with losses totalling $42 billion. Blockchain technology allows multiple trusted parties to verify trusted identities and provides the highest level of security for customer databases and CRM systems.
Most online retailers struggle to keep up with their competition and rising customer expectations. In addition to these challenges, they face the risk of losing customer data and millions of cash due to cyberattacks. Blockchain technology is well suited to address these challenges faced by online retailers. The technology provides the highest level of security for e-commerce database management systems in the form of distributed ledgers.
Fast Trading
Through blockchain technology such as AMT.LAND, customers of e-commerce sites can make fast online payments. Unlike in the past where buyers had to wait hours or days to pay, blockchain gives them the convenience they need to shop online. In this case, they can ship after paying the required amount.
Facilitate trade in third world countries
It is amazing how blockchain technology can provide third world countries with opportunities for online transactions. Through Bitcoin’s peer-to-peer system, consumers in these countries do not need a middleman to process their payment requests. In addition, these technologies have opened the door for online retailers to take advantage of consumer markets in developing countries.
The first e-commerce platform in Singapore to accept cryptocurrency payment, focusing on NFT and technology products, art promotion and trading market. https://amt.land/ has a store-in-shop, self-operated by merchants, and accepts ETH AMT and all ERC20 tokens for payment. The Marketplace function, and the referrer’s unique invitation code, recommend buying rebates.
https://amt.land/affiliate-dashboard/ Register a promoter account, get an exclusive invitation code, and have a chance to enjoy 20% rebate
Store opening link: https://amt.land/vendor-register/
Multilingual for market users including Vietnamese, Spanish, French, Arabic, etc.
