E-commerce is one of the fastest-growing technological markets in the world. Such quick growth is primarily due to rapid global extensive use of broadband access to the internet. However, there’s still a need to innovate this industry due concerns like transparency and efficiency which can be resolved now through the newly recognized adaptation of blockchain technology.
IBM and WEF experts said, blockchain technology has what it takes to facilitate the workflow of cross-border trading transactions, particularly the handling of document approval processes. This was according to an article written by Lisa Froelings. She added that, blockchain helps widen various international trade possibilities by getting rid of the redundant processes while successfully minimizing the costs that usually come with international trades and operations.
By the help of blockchain technology, Bazista would like to introduce the platform that will allow people to take a significant step forward in the electronic commerce industry. By using new payment instruments and state-of-the-art technologies of data exchange and storage, a platform enabling the safe and straightforward online exchange of goods and services.
Using cryptocurrencies and digital assets for the settlement of transactions between the users of our platform ensures transparency of transactions and creates new ingenious ways to make money due to capitalizing on user activity on the internet.
Selling goods and services through the internet have many points in its favor compared to offline shops. Fixed expenses associated with leasing and purchase of premises, personnel as well as utility and management expenses are lower. It means that e-commerce organization requires no substantial investments as opposed to offline business.
“International trade demands a faster, more secure and more efficient way to handle the document approval workflows needed to move goods across international borders. Traditionally, supply chains have relied on the physical movement of large volumes of paper documents leaving the window open for fraud, human error and inadvertent delays” according to an article written by Lisa Froelings. But, with the help of blockchain technology present in Bazista platform, fraud and errors of any kind can be eliminated and be replaced by efficiency and security.
She also write that, “Blockchain-based open and secure platforms can also bring smaller businesses to the port, either to perform tasks in the terminals or as customers operating in the port. They can easily access the port services and connect with others via the digital port platform. Digital peer-to-peer collaboration tools and payments ease doing business.”
Blockchain technology gives new meaning, ways and opportunities on e-commerce while Bazista makes it possible and accessible to everyone. Bazista platform, through its special features and blockchain can change the present situation of this industry, thus, improving its system and integrating transparency.