It’s a given anymore that e-commerce is a way of life in the 21st century.
The volume of global transactions in cyberspace has exploded, to absolutely no one’s surprise.
Still, the numbers are mind-blowing; eMarket projections indicate total sales in cyberspace will approach $1.6trillion this year and reach $2.5trillion by 2018.
No wonder more and more entrepreneurs are becoming involved. For the most motivated, earning life-changing money and achieving the Dot Com lifestyle is now a realistic goal.
The reason, of course, is scalability. For any business with a presence in cyberspace — no matter whether it’s large or small — the entire world is now a singular market. It’s as approachable to a work-at-home operation as it is to a mega-corporation.
The advantages of e-commerce to customers include speed and ease, which has created a quest to provide ever more convenient payment methods.
Many believe this will ultimately lead to the emergence of a universal cybercurrency.
Enter Bitcoin, resplendent in both its genius and its controversy. It is the logical next stage in transactional tender:
A surfeit of issues remain to be resolved before Bitcoin or any other cybercurrency becomes universally accepted. It’s still very much a project in beta stage.
However, the technology that Bitcoin has highlighted is beyond exciting, and that’s the blockchain.
This is an important concept with significant benefits for e-commerce entrepreneurs:
- It provides an efficient and objective ledger for transactions;
- It identifies and verifies a product’s origins; and thus,
- It promotes trust, which is essential for success in any business.
Blockchain technology will become the ultimate seal of approval in digital business, and e-commerce entrepreneurs — whose very existence relies on trust — will be among the first to reap its rewards.
