Breaking The Shackles Of Centralization In The World Of eCommerce Through Blockchain


Breaking The Shackles Of Centralization In The World Of eCommerce Through Blockchain

Introduction

There is a brewing revolution against centralized system in financial institutions, trading and now e-commerce. This revolution is constantly brewing trust in the hearts of customers or masses directly affected by the imitations posed by these centralized business models. The revolution is integrated into the hearts of many by highlighting the deficiencies and introducing new models that correct this malady. This new model is Decentralization. As noted, the concept of decentralization is most widely supported through the offerings of the blockchain technology and now, new projects are arising to address the monopoly of centralized e-commerce industries.

Limitations Of The E-commerce Industries

E-commerce giants such as Amazon, E-bay, and Alibaba to mention a few are under serious criticism for unduly benefiting from both sellers and buyers alike. These e-commerce giants have built a network and a system that breeds trust and has thus positioned the companies above the perking order but they charge store or product owners exorbitantly that it impacts on the vendors profits. These aberrations are further compounded by the amount paid for these goods by the final consumers. Although Government usually steps in sometimes to enforce some regulations, the proponents of a decentralized e-commerce marketplace believes these efforts are almost negligible.

Several blockchain backed platforms have emerged to help address these centralization challenges in e-commerce and this article places a brief spotlight on two of the most promising

Nexty Platform

The Nexty platform is a platform specially built for e-commerce, retail and payments. Launched in July 2018, the platform offers an instant transfer payment system which is a deciding factor for every futuristic payment method, and Nexty has achieved it. It is, and will always be 2-second transfer. Nexty also charges Zero transfer fees, complimentary feature for Nexty incredible speed, because we believe that you shouldn’t get charged to transfer your money and always be in control.

The Nexty platform also offers price stabilization system, a feature that presents a perfect solution to undue price fluctuations as obtainable on centralized e-commerce platforms. With Nexty, the developers believe we all can now make our demand effective as we’d have better value for our money when all these bottlenecks are removed.

ApolloX

The developers of ApolloX hopes to challenge “monopolistic intermediaries” with an ecosystem consisting of three building blocks. The first component is a protocol which the company says makes it easy for e-retailers to build decentralized e-commerce applications on a blockchain. The second block is the independent web stores and marketplaces that will be developed using its technology and also ApolloX says that the third block is the whole of its community — including manufacturers, service providers, technologists, sellers and consumers — with users being rewarded when they provide value to other stakeholders. The platform has models to help vendors get established without the fear of overcharging imposed by the centralized intermediaries. ApolloX is lending adequate support to the seller which would positively affect the price that would be paid by consumers thus making it a platform to support.

Conclusion

The need to earn trust by vendors to make sales is what centralized market places exploits. Centralized e-commerce vendors keep their rates and fees high because they know that it won’t harm their own finances, these supposedly callous business practice is gradually coming to an end. The world of e-commerce is transforming to giving real value to sellers and consumers without unduly enriching some folks out there.

https://bitcoinexchangeguide.com/todays-crypto-price-predictions-bitcoin-btc-ethereum-eth-ripple-xrp-and-bch-analysis-feb-27/

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