How Blockchain Technology Will Change E-Commerce

By 2020, the global online e-commerce market will reach nearly 4 trillion USD.

Traditional e-commerce challenges for sellers include: a growing borderless economy, large monopolies taking over small marketplaces, customer loyalty, generating traffic, choosing the right technology and partners, the list can go on and on.

Given the recent global hype with cryptocurrency, it is of no surprise that Blockchain technology can take over the e-commerce industry. Known for decentralizing and securing transactions at its base, Blockchain technology is the tool that can take e-commerce to the next level worldwide. It opens up online markets and makes them borderless, brings new payment processing, cheaper operational costs for sellers, and stronger data protection for users.

With a live prototype available for download on the Apple and Google store, NeoPlace is a fully functional platform for crypto holders interested in dispensing their cryptos and sellers who want earn cryptos. NeoPlace is the marketplace to earn crypto and spend crypto.

Built on the principle of communal checks and balances rather than a centralized entity, records of information processed in each transaction on the Blockchain can never be controlled by one person. Despite its level of technical sophistication, Blockchain is not a new technology, it is a combination of existing technologies applied in a new form. With the Internet, private key cryptography and a protocol incentivizing the technology pave the way to a whole new industry called “Crypto”.

Unlike traditional e-commerce marketplaces such as: Amazon, Alibaba, or eBay — where customers are restricted to certain marketplaces based on their location and currency — NeoPlace solves these problems by providing a one-stop marketSpace created for the modern consumer and merchant. A product made especially for a borderless and globalized society. Consumers do not have to deal with different national sales tax policies and language barriers. If you were an English-speaking shopper and wants to buy a product from a Korean seller, while simultaneously purchasing another object from a French vendor, NeoPlace makes that process seamless, painless, and fully secure: connecting sellers and buyers with an ecosystem tailored to bridge the gap between crypto holders and non-crypto users.

On the seller-side, platform fees are much lower than traditional channels, customer reward rating system incentivize customers to share their comments, build stronger branding affinity for retailers and data protections for all parties (proof-of-ownership and proof-of-work-cycle).

It is only a matter of time when traditional e-commerce retailers rush to play catch-up with vendors already using the Blockchain for their e-businesses. NeoPlace is the alternative solution for today’s sellers ready to tap into a $300 billion USD market of customers ready to spend their cryptos.

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