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Blockchain in eCommerce – Here’s How Things Have Panned Out in 2021

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Advanced supply logistics, striving for guaranteed 2 hour delivery worldwide.

For many years now, technology experts have insisted that the blockchain was going to revolutionize the way the world does business. And in some ways, it has.

Big names like Walmart have integrated blockchain into their supply chain operations. Major banks adopted the technology one after another. And even some governments got into the act, putting blockchain to work to increase transparency and efficiency.

But many of the ways it has been used so far aren’t really revolutionary. At best, blockchain is playing a supporting role in workflows that already existed. However, there’s one industry where that seems to be changing: eCommerce.

Right now, blockchain is making a big splash in the eCommerce space, enabling new ways of doing things and disrupting the status quo. Here are three specific examples of that in action.

Solving the Last-Mile Delivery Problem and More

One of the biggest problems that has always plagued the eCommerce industry is figuring out how to handle the last-mile delivery of products. In developed countries, this involves a mix of carriers like UPS, FedEx, and local postal services.

But even those have their limitations. It’s why Amazon has spent billions of dollars standing up its own delivery infrastructure.

But now, a blockchain-powered company called Buying.com is pushing a new solution to the last-mile delivery problem. They’ve developed a proprietary blockchain solution they call the Prime protocol that enables them to operate a true peer-to-peer delivery-on-demand system. It allows an unlimited number of independent drivers to function as local delivery fleets, but that’s not all.

It also makes it possible to allow those same drivers to rent out available space in their properties to function as micro-warehouses. In other words, it’s a decentralized version of the Amazon fulfillment center model, enabled by blockchain. In that way, even tiny eCommerce operations can provide quick and efficient product delivery that’s good enough to compete with bigger competitors.

And for consumers, there’s another benefit to the Prime protocol. It’s that the platform’s native $BUY token allows them to participate in social buying – unlocking huge price discounts on the items they need. It essentially groups similar purchases to qualify them for wholesale minimum purchase quantities at reduced prices compared to retail. Altogether, the Buying.com Prime protocol promises a top-to-bottom revolution in eCommerce. The token offering was launched on July 14th, 2021 at 9:00 AM PST in collaboration with TrustSwap.

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eCommerce Blockchain-as-a-Service

Another blockchain-powered eCommerce company making waves in the industry is Splyt. But their blockchain solution attacks a different set of problems than Buying.com’s Prime protocol. The Splyt system is a plug-and-play inventory and authenticity system that leverages eNFTs on the Polkadot network to track individual items.

But what’s most interesting about the Splyt approach is that any existing eCommerce operation can use it without having to change anything about how they operate. That’s because access to the Splyt ecosystem comes in the form of open-source plugins that integrate with selling solutions like Shopify and others.

That means it works as a bolt-on solution that can help sellers keep perfect inventory control as well as authenticate individual products – creating a counterfeit-free marketplace. That second function alone could help eCommerce operators put an end to an online counterfeit trade worth an estimated $509 billion every year.

And on top of that, the Splyt system also functions as a sales performance tracker that works with complete transparency and security. That means it can enable affiliate sales programs that are free from so-called double sales. That’s when multiple affiliates sell the same physical item at almost the same time – leading to controversy over commissions and creating customer service nightmares. With Splyt managing inventory, it’s possible to know who sold what in real-time – keeping things fair and eliminating unhappy customers.

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Eliminating Payment Confusion

Blockchain solutions are also finally making a dent in the eCommerce payments space, too. It’s the use case that everyone expected to be a natural fit for the technology from the very beginning, but that never quite took off. But now, newcomers like Spacelens are approaching eCommerce payments in a whole new way that might finally succeed where conventional cryptocurrencies have failed.

They’re doing it by creating a self-contained blockchain ecosystem that includes an eCommerce platform and a payment system in one. Buyers and sellers on the system use the platform’s native $SPACE token to handle transactions, no matter where each is located. That eliminates the need for 3rd-party cross-border payment systems and also eliminates costly currency conversions that can see value fluctuations harming buyers or sellers alike at any given time.

And the platform also lets buyers search for and communicate with sellers in their area, which supports local economies in a way that traditional eCommerce does not. It’s a function that should help to minimize the kinds of economic damage that eCommerce has done to small towns and cities all around the world, which alone is something Spacelens deserves applause for.

A Real Blockchain Revolution, Finally

Although it’s arriving much later than most people initially predicted, it looks like blockchain technology is finally having the revolutionary effect in eCommerce that everyone expected from the beginning. It’s making it possible for small eCommerce companies to compete on an equal footing with giants like Amazon, cutting down on the avalanche of counterfeit goods that flood online marketplaces, and creating alternative payment solutions that solve multiple real-world problems.

And best of all, this is just the beginning. Now that the power of blockchain in eCommerce is apparent and on display for all to see, expect more innovators to rush in and explore its uses. As they do, we’re likely to see an eCommerce industry reinvented from the inside out – benefitting buyers and sellers around the world for a long time to come.

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Source: https://hackernoon.com/blockchain-is-finally-living-up-to-the-hype-in-ecommerce-heres-how-tgm358f?source=rss

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Nigeria to Launch a Pilot for Its CBDC in October

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Amazon seems determined to maintain its reputation as an innovative company and is looking to experiment with cryptocurrencies through a digital currency payment and blockchain unit.

According to an announcement posted on Thursday, Amazon is looking for a blockchain specialist to lead its Digital Currency and Blockchain strategy.

The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap … You will work closely with teams across Amazon, including AWS, to develop the roadmap, including the customer experience, technical strategy and capabilities as well as the launch strategy.

What Amazon is Looking For

The expert must have at least an MBA or equivalent degree, 10+ years of business or technology experience, team management skills, understanding of data and metrics, and good communication skills.

The corporation did not disclose any salary offer. The person must be based on or willing to move to Seattle, Washington.

Amazon seems to be convinced of the need to innovate in the field of payments and finance. The cryptocurrency and blockchain development team is a sign of the company’s interest in exploring these emerging technologies to offer better financial products.


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According to an email shared by Business Insider, Amazon’s team confirmed its interest in exploring an approach to the world of cryptocurrencies. Still, they did not specify whether it would be through the development of a proprietary currency or through the acceptance of cryptocurrencies as a means of payment:

“We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon … We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.”

An Old Relationship With Crypto

Amazon’s interest in the world of cryptocurrencies isn’t new. Back in 2017, it purchased, at least preemptively, a number of domains linking its brand to cryptocurrencies, including amazoncryptocurrency.com, amazoncryptocurrencies.com, and even amazonethereum.com.

However, at the time, Patrick Gauthier told CNBC that the e-commerce giant did not have much interest in cryptocurrencies and had no plans to support crypto payments.

In fact, the Pay With Moon plugin that allowed payments on Amazon with Bitcoin through Lightning Network had to change its business model to instead allow its users to purchase virtual credit cards instead of paying directly on Amazon’s site.

Also, as Cryptopotato reported in February this year, Amazon launched a job offer for a new payments system involving “Digital and Emerging Payments (DEP),” although they did not mention a direct relationship with Bitcoin or any cryptocurrency either.

This time, however, Amazon seems more willing to go public with its casual relationship with cryptos.

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Amazon Wants a Leader For Its Digital Currency and Blockchain Product Unit

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Amazon seems determined to maintain its reputation as an innovative company and is looking to experiment with cryptocurrencies through a digital currency payment and blockchain unit.

According to an announcement posted on Thursday, Amazon is looking for a blockchain specialist to lead its Digital Currency and Blockchain strategy.

The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap … You will work closely with teams across Amazon, including AWS, to develop the roadmap, including the customer experience, technical strategy and capabilities as well as the launch strategy.

What Amazon is Looking For

The expert must have at least an MBA or equivalent degree, 10+ years of business or technology experience, team management skills, understanding of data and metrics, and good communication skills.

The corporation did not disclose any salary offer. The person must be based on or willing to move to Seattle, Washington.

Amazon seems to be convinced of the need to innovate in the field of payments and finance. The cryptocurrency and blockchain development team is a sign of the company’s interest in exploring these emerging technologies to offer better financial products.


ADVERTISEMENT

According to an email shared by Business Insider, Amazon’s team confirmed its interest in exploring an approach to the world of cryptocurrencies. Still, they did not specify whether it would be through the development of a proprietary currency or through the acceptance of cryptocurrencies as a means of payment:

“We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon … We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.”

An Old Relationship With Crypto

Amazon’s interest in the world of cryptocurrencies isn’t new. Back in 2017, it purchased, at least preemptively, a number of domains linking its brand to cryptocurrencies, including amazoncryptocurrency.com, amazoncryptocurrencies.com, and even amazonethereum.com.

However, at the time, Patrick Gauthier told CNBC that the e-commerce giant did not have much interest in cryptocurrencies and had no plans to support crypto payments.

In fact, the Pay With Moon plugin that allowed payments on Amazon with Bitcoin through Lightning Network had to change its business model to instead allow its users to purchase virtual credit cards instead of paying directly on Amazon’s site.

Also, as Cryptopotato reported in February this year, Amazon launched a job offer for a new payments system involving “Digital and Emerging Payments (DEP),” although they did not mention a direct relationship with Bitcoin or any cryptocurrency either.

This time, however, Amazon seems more willing to go public with its casual relationship with cryptos.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

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Source: https://coingenius.news/amazon-wants-a-leader-for-its-digital-currency-and-blockchain-product-unit-38/?utm_source=rss&utm_medium=rss&utm_campaign=amazon-wants-a-leader-for-its-digital-currency-and-blockchain-product-unit-38

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AI

Fintech Giant Zip Co to Provide Cryptocurrency Trading Services

Published

on

Amazon seems determined to maintain its reputation as an innovative company and is looking to experiment with cryptocurrencies through a digital currency payment and blockchain unit.

According to an announcement posted on Thursday, Amazon is looking for a blockchain specialist to lead its Digital Currency and Blockchain strategy.

The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap … You will work closely with teams across Amazon, including AWS, to develop the roadmap, including the customer experience, technical strategy and capabilities as well as the launch strategy.

What Amazon is Looking For

The expert must have at least an MBA or equivalent degree, 10+ years of business or technology experience, team management skills, understanding of data and metrics, and good communication skills.

The corporation did not disclose any salary offer. The person must be based on or willing to move to Seattle, Washington.

Amazon seems to be convinced of the need to innovate in the field of payments and finance. The cryptocurrency and blockchain development team is a sign of the company’s interest in exploring these emerging technologies to offer better financial products.


ADVERTISEMENT

According to an email shared by Business Insider, Amazon’s team confirmed its interest in exploring an approach to the world of cryptocurrencies. Still, they did not specify whether it would be through the development of a proprietary currency or through the acceptance of cryptocurrencies as a means of payment:

“We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon … We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.”

An Old Relationship With Crypto

Amazon’s interest in the world of cryptocurrencies isn’t new. Back in 2017, it purchased, at least preemptively, a number of domains linking its brand to cryptocurrencies, including amazoncryptocurrency.com, amazoncryptocurrencies.com, and even amazonethereum.com.

However, at the time, Patrick Gauthier told CNBC that the e-commerce giant did not have much interest in cryptocurrencies and had no plans to support crypto payments.

In fact, the Pay With Moon plugin that allowed payments on Amazon with Bitcoin through Lightning Network had to change its business model to instead allow its users to purchase virtual credit cards instead of paying directly on Amazon’s site.

Also, as Cryptopotato reported in February this year, Amazon launched a job offer for a new payments system involving “Digital and Emerging Payments (DEP),” although they did not mention a direct relationship with Bitcoin or any cryptocurrency either.

This time, however, Amazon seems more willing to go public with its casual relationship with cryptos.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:

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PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
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Source: https://coingenius.news/fintech-giant-zip-co-to-provide-cryptocurrency-trading-services-24/?utm_source=rss&utm_medium=rss&utm_campaign=fintech-giant-zip-co-to-provide-cryptocurrency-trading-services-24

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Locked Out of Millions: Couple Can’t Access $5.8M Worth of Ethereum

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Yuki and Art Williams, who purchased 3,000 Ethereum coins back in 2014, can not open their crypto wallet. The family claims that the essential JSON file was never downloaded, and thus they don’t have access to their $5.8 million.

In Search for Help

According to the American media 7news, the Washington DC family Yuki and Art Williams possess 3,000 ETH coins in their crypto wallet. Unfortunately, the wife and husband can only see them and not access the assets. The couple insisted that when they bought the assets in 2014, the JSON file was never downloaded. Art Williams said:

“The instructions were to leave your computer on for an hour and a half and as the progression bar showed it populating the JSON file would appear. Unfortunately for us, it did not appear.”

Calculated in today’s prices, the wallet contains $5.8 million. Mr. Williams told 7news that the Ethereum Foundation promised him to solve the issue and send him a backup JSON file. However, the family is still waiting.

In another attempt to access their funds, the couple e-mailed the Foundation based in Switzerland and showed them proof of purchase and screenshots of the problem. 7news also tried to reach out to the Ethereum Foundation but received no comment.

The last move that the family is yet to make is to hire a law firm that would open a case in court in Switzerland. The attorneys would demand that the Ethereum Foundation grant a JSON file to the desperate couple during the process.


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“Devastating, to say the least. Obviously, that’s life-changing money,” added Mr. Williams.

The Man Who Lost Access to 7,002 BTC

Investing in cryptocurrencies is not risky only because of the volatile nature of the assets. Apart from that, investors need to save and protect their private keys. In case someone loses their private keys, that could lead to an irreversible disaster. Such is the case with Stefan Thomas and his bitcoins worth more than $223 million.

As CryptoPotato reported earlier in the year, the resident of San Francisco produced an educational video called “What is Bitcoin?” for another crypto fan and received 7,002 bitcoins for his services.

However, Thomas didn’t pay much attention to his new holdings as they had a little-to-no value at the time, and he lost the digital keys to the wallet. In the following years, though, BTC’s price exploded, and now the 7,002 coins are worth around $223 million.

The wallet called IronKey allows users ten attempts to guess the password. So far, Thomas has tried eight times to access the funds, but they were all unsuccessful. If he fails ten times, the wallet will be encrypted forever.

“I would just lay in bed and think about it. Then, I would go to the computer with some new strategy, and it wouldn’t work, and I would be desperate again,” the man revealed.

To avoid any of the above, it’s highly recommended that you take crypto security seriously and make sure to always follow these tips.

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Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coingenius.news/locked-out-of-millions-couple-cant-access-5-8m-worth-of-ethereum-17/?utm_source=rss&utm_medium=rss&utm_campaign=locked-out-of-millions-couple-cant-access-5-8m-worth-of-ethereum-17

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