Blockchain-Based E-Commerce: A Review on Applications and Challenges

Taherdoost, Hamed; Madanchian, Mitra

doi:10.3390/electronics12081889

Cited by 21 publications

(9 citation statements)

References 53 publications

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“…Users can participate in safer transactions and securely store their digital assets. Unlike traditional online transactions that require validation from third parties like credit cards or banks, blockchain provides a protective layer [19].…”

Section: Blockchain For E-commercementioning

confidence: 99%

A Review of Blockchain’s Role in E-Commerce Transactions: Open Challenges, and Future Research Directions

Albshaier,

Almarri,

Hafizur Rahman

2024

Computers

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The Internet’s expansion has changed how the services accessed and businesses operate. Blockchain is an innovative technology that emerged after the rise of the Internet. In addition, it maintains transactions on encrypted databases that are distributed among many computer networks, much like digital ledgers for online transactions. This technology has the potential to establish a decentralized marketplace for Internet retailers. Sensitive information, like customer data and financial statements, should be routinely transferred via e-commerce. As a result, the system becomes a prime target for cybercriminals seeking illegal access to data. As e-commerce increases, so does the frequency of hacker attacks that raise concerns about the safety of e-commerce platforms’ databases. Owing to the sensitivity of customer data, employee records, and customer records, organizations must ensure their protection. A data breach not only affects an enterprise’s financial performance but also erodes clients’ confidence in the platform. Currently, e-commerce businesses face numerous challenges, including the security of the e-commerce system, transparency and trust in its effectiveness. A solution to these issues is the application of blockchain technology in the e-commerce industry. Blockchain technology simplifies fraud detection and investigation by recording transactions and accompanying data. Blockchain technology enables transaction tracking by creating a detailed record of all the related data, which can assist in identifying and preventing fraud in the future. Using blockchain cryptocurrency will record the sender’s address, recipient’s address, amount transferred, and timestamp, which creates an immutable and transparent ledger of all transaction data.

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Section: Blockchain For E-commercementioning

confidence: 99%

A Review of Blockchain’s Role in E-Commerce Transactions: Open Challenges, and Future Research Directions

Albshaier,

Almarri,

Hafizur Rahman

2024

Computers

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“…In the Medium-Term Strategy, developing Digital Platforms and Block-chain is deemed essential (Taherdoost & Madanchian, 2023). The Government can create digital platforms using block-chain technology to foster increased public trust (Rijal & Saranani, 2023).…”

Section: Medium Termmentioning

confidence: 99%

Development of Economic Supporting Infrastructure in the Nation's Capital: A Proposal Using a Crowdfunding Scheme

Berlian,

Hertasning,

Nugroho

et al. 2024

J. of Law and Sust. Develop.

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Objective: This research aims to provide proposals for a comprehensive policy framework and strategic plan to advance economic prosperity through infrastructure development in the New Capital Region of East Kalimantan, Indonesia. Theoretical Framework: The theory used is crowdfunding from Kirby & Worner (2014). The crowdfunding model includes social crowdfunding communities, loans/donations, and reward crowdfunding. The financial benefits of crowdfunding encompass peer-to-peer (P2P) loans and equity crowdfunding. Method: The method employed is a qualitative approach using interview discussions supported by participant observation. Twenty-two stakeholders, including policymakers and community members, participated in the study, providing diverse perspectives. The research takes place from September 16 to November 19, 2023, with the research locus in the city of IKN Nusantara. Results and Conclusions: To comprehend the short-medium-and long-term perspectives, these plans require innovative financing methodologies, such as crowdfunding, which is considered an essential element. In the short term, community involvement is targeted through SBSN, facilitating direct community participation in infrastructure funding. This medium-term strategy integrates digital platforms and blockchain technology, increasing transparency and strengthening public trust. A mixed creative financing model is recommended for public transport, aligning crowdfunding with Public-Private Partnerships. In the long term, this study highlights the growing maturity of crowdfunding and its potential positive influence on the infrastructure supporting the economy, setting a precedent that can be imitated in other regions in Indonesia. Research Implications: In line with national aspirations to achieve advanced status by 2045, this proposal supports inclusive economic growth inspired by China's expertise in optimizing domestic resources. The importance of the Open Government concept was underlined, emphasizing community involvement to reduce foreign dependence and encourage sustainable economic growth. Originality/Value: This research includes concrete actions, such as implementing Government Sharia Securities, blockchain integration, and targeted financial education campaigns, all aimed at ensuring the effectiveness and long-term success of infrastructure development in the Capital Region.

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“…Electronic commerce is defined as all aspects of business and market processes made possible by the Internet, according to Santos, Augusto, Vieira, Bacalhau, Sousa, & Pontes, 2023 and Kedah, 2023). Furthermore, e-commerce can be defined as the buying and selling of goods and/or services, as well as enabling financial transactions over the internet (Munoz, Holsapple, & Sasidharan, 2023), and it has enabled retailers to increase their physical presence as well as allow customers to purchase their products online (Taherdoost, & Madanchian, 2023). It has also helped in reducing operational costs, for example in marketing and advertising, as well as improving customer retention (Achmad, 2023).…”

Section: Definition Of Ecommercementioning

confidence: 99%

E- commerce Adoption and Development in an African Context: A Literature Review of Botswana

2023

IJFMR

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The aim of this study is to provide a comprehensive analysis of existing research on the acceptance and development of e-commerce in Botswana, with the intention of providing suggestions for future research areas. This study utilized Google Scholar's comprehensive coverage of journal databases to collect academic papers published between the years 2000 and 2023. A Boolean search was employed to analyze these publications. A total of 65 papers were reviewed. The authors identified a gap in the existing research on the implementation and progress of electronic commerce in Botswana, noting that the current studies were outdated. The study identified a range of factors that influence the development and adoption of e-commerce in Botswana. These factors include organizational aspects, internet pricing, security concerns, electricity interruptions, market suitability, innovation, management dedication, government policies, telecommunication infrastructure, e-commerce skills, credit card usage, slow internet connectivity, organization size, website design, gender, financing, and regulatory matters, among others. Subsequent research should ascertain the validity of the existing findings, embrace technology and innovation frameworks, and explore the adoption of e-commerce from the customer's standpoint. Though this review provides valuable insights into e-commerce development in Botswana and other developing economies, but its conclusions should be approached cautiously due to its limited selection of studies and reliance on past and existing research. Furthermore, it covers Botswana's e-commerce adoption, a topic understudied in the literature. It also discusses the factors affecting e-commerce uptake in developing nations and the policy implications for fostering it. E-commerce can boost economic diversification and inclusive growth in developing nations, according to the assessment. Future research should focus on e-commerce's impact on economic diversification and inclusive growth, particularly in emerging nations like Botswana.

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Blockchain-Based E-Commerce: A Review on Applications and Challenges

Cited by 21 publications

References 53 publications

A Review of Blockchain’s Role in E-Commerce Transactions: Open Challenges, and Future Research Directions

A Review of Blockchain’s Role in E-Commerce Transactions: Open Challenges, and Future Research Directions

Development of Economic Supporting Infrastructure in the Nation's Capital: A Proposal Using a Crowdfunding Scheme

E- commerce Adoption and Development in an African Context: A Literature Review of Botswana

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