The advent of blockchain technology brings a new system and model for businesses. Before blockchain, companies and organizations that operate for profit must find a way to bill their users to ensure profit. Also, they have to go through multiple channels to ensure that they are transparent (which they sometimes still find a way to evade).
With blockchain, an organization can issue its own tokens based on smart contracts which gives users a surety of transparency and direct involvement in the organization’s choices according to the consensus model.
This change of model is finding its way into the ecommerce industry. The rise of online shopping giants in the last 2 decades have been profound. The centralized nature of the industry, however, creates issues that cannot be truly resolved if the system stays centralized. Issues such as unfair pricing, hidden costs and data abuse. The purpose of decentralization in the ecommerce industry is to create a system that benefits the sellers and…