asked in Science+Technology by (297 points) 4 33
Would it be possible use the blockchain technology to develop a decentralized e-commerce...and if "yes"....in which way could it be designed? Are there any "pro" & "con"? Thank you anyone wanna share his opinion.

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answered by LEGEND (7,416 points) 4 14 39
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Many global retailers are now turning to blockchain technology. I actually think this is an excellent idea. If you've ever sold anything online, you'll always run into problems like:

  1. People paying you with PayPal and turning in a dispute. PayPal rules in their favor and you've lost the money and the items that you sold.
  2. There are many credit card thieves today and people use these cards online to purchase so many items. In the end when the owner of the card realizes what has happened the bank can take back the payment. If you've sold some expensive good to these people you are out a lot of money.
At least with blockchain, it is harder to hack the account and you are insured your payment for the goods you've sold. The Pros and Cons:
Pros:
  1. A safer way to be paid and ensure that nobody can file a claim against you to have their money returned.
  2. A more secure payment processing system because of how it is run and there isn't just one person controlling this.
  3. You'll have fewer chargebacks and lost merchandise. 
Cons
  1. Nobody knows really where this technology is going right now or if it will soon be regulated.
  2. There is no real money in this technology only electronic currency. It might be harder to get your hands on and you'll pay higher processing fees when you try to transfer the funds to your bank account.
  3. No one knows if a cap will put on this currency, if it will fall or rise again.
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answered by Patron (1,870 points) 2 5 14
I believe blockchain will make significant changes in e-commerce. The major challenges of e-commerce will be solved completely and thoroughly by the smart contract when applying blockchain technology. With its superior features and high security features thanks to its scattered data base, blockchain is the solution of the time for the global online retailer.
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answered by (376 points) 2 11
Blockchain is today's technology with new era of global currency which cannot be printed or touched, still it exists and can be used too. We have both pro and con for this-

Pro-

This is digital, so nobody can make fake currency.

This is decentralised, so nobody controls it.

This is not under any government, so it can be used globally without problem.

Con-

This is anonymous, so tax defaulters, criminals, terrorists all can misuse it.

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