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The History of eCommerce: from Its Origins to Modern Day

Development of e-commerce ...

The development of e-commerce in Asia will affect the adoption of cryptocurrencies
CONTENT

  • The e-commerce sector is actively using blockchain

  • Digital currencies will be actively used in online trading

  • Today, using cryptocurrency, you can buy expensive goods

International consortium of news organizations developing transparency standards.

In the next five years, Asia will become the hub of e-commerce and will set trends around the world. This is the conclusion reached by analysts of the World Economic Forum.

Development of e-commerce ...

The digital economy will change the way we trade

According to the analytical report of the World Economic Forum, Asian countries will become leaders in the field of e-commerce and will set trends in the global market. The main thing will be complete digitalization and automation of processes, as well as the transition to a digital economy. This means that in the next five years, users will make purchases practically without using cash, and stationary stores will be replaced by electronic marketplaces..

The coronavirus epidemic has had a huge impact on the global digitalization of trade. The introduction of quarantine measures and restriction of population movement led to the fact that most of the trade turnover worldwide went to the Internet. According to WEF analysts, this trend will continue over the next five years..

Also, as analysts note, approaches to online commerce will change. For example, most purchases will be made using mobile devices, and payments will be made using digital currencies. Therefore, today Asian trading corporations are already working on introducing blockchain technologies into their payment systems..

Development of e-commerce ...

Main trends in e-commerce for the next 5 years

In general, e-commerce will become a global ecosystem that will unite manufacturers, sellers, buyers of goods, payment systems and logistics companies into a single whole. And in order to effectively manage this system, the latest technologies and developments will be used..

Jack Ma, a Chinese billionaire, founder of Alibaba and Ant Group, also spoke about this earlier. He assures that blockchain technologies will change the existing banking system and the online trading system..

Cryptocurrencies will become means of payment

As online trading develops, cryptocurrencies will take an increasingly important place in the payment system. Already today, with the help of cryptocurrencies, you can buy expensive goods such as cars, yachts, airplanes, real estate jewelry. Earlier, the editors of BeInCrypto reported that Aviatrade and Kaizen Aerospace have added to the list of firms that accept cryptocurrencies as payment for goods and services – from air tickets and hotels to gold and art objects. Similar innovations are associated with the coronavirus crisis: sellers use digital payment platforms that accept Bitcoin and other cryptocurrencies, for example, Jack Dorsey Square.

ETH and Bitcoin SV tokens are also accepted today as a means of payment. For example, here you can see a list of goods that can be bought for cryptocurrency.

Analysts also predict that the next generations, such as Alpha, will use cryptocurrencies as a means of payment everywhere. Analyst Sylvain Saurel stated this in his article..

“For millennials, opening a bank account has become painful, and many are trying to move towards solutions with much less red tape. Generation Z and Generation Alpha members will prefer to move towards systems without red tape, ”writes Saurel.

Development of e-commerce ...

Speaking about the future adoption of bitcoin, Saurel emphasizes that representatives of generations Z, Y, X are still skeptical about this asset. However, research by cryptocurrency investment firm River Financial Inc. refute this. On the contrary, today the main bitcoin hodlers are precisely the representatives of the baby boomer generation, who grew up in a conservative time..

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