Better Security: Fraudulence, data privacy, and security breach are always a concern in e-commerce. Blockchain permits trusted entities that are verified by multiple trusted parties and guarantees complete transparency of transactions.

Easier and faster transactions: As blockchain transactions are instantaneous and don’t transit through conventional banking systems, payment processing is faster and there are no delays or pending transactions. Instant purchases and payments make the customer experience delightful.

Enhanced business processes: Blockchain can store more than mere transactions. The incorporation of smart contracts helps automate tasks based on preset rules, like inventory management or automatic payments. It is also possible to store digital records of warranty details and customer receipts, which makes ownership validation and warranty validation hassle-free eliminating a lot of paperwork.

Efficient supply chain management: Blockchain in the e-commerce supply chain eliminates a huge amount of manual work associated with shipping. The billing process for cargo lading can be pushed to a blockchain at each stage of the cargo which reduces administrative time & cost and makes tracking of product details and the shipment efficient. Blockchain can help ensure the quality and validity of the products with expiry dates or certifications and this offers the necessary traceability that the customers look for in what they are paying for.

Outreach to global consumers: Blockchain and cryptocurrencies allow customers in developing countries to bypass banking intermediaries, and access a wide variety of e-commerce retailers. At the same time, blockchain encourages progressive brands to tap into novel and emerging markets

NFT (Non-Fungible Token) in E-Commerce: An NFT is a digital asset stored on a blockchain. The concept of NFTs helps businesses to bundle both physical products and NFTs on their e-commerce site as well as eliminate the involvement of 3rd agencies and middlemen. NFTs allow physical and digital assets to be tokenized, bought, and owned by customers as digital assets. Thus one may share and sell one-of-its-kind products through the e-commerce site in the form of NFTs.

Some amazing advantages NFT brings into E-Commerce:.

• Novel purchase experience: With NFTs, a customer can gain instant ownership of the NFT version of a real purchased product while the actual product may reach the customer several hours/days after booking on the e-commerce sites. Thus, NFT in e-commerce provides both order fulfillment and a delightful experience for the consumer.
  
  
• Asset ownership: NFT is built on blockchain and hence immutable. Thus it indicates a public record of ownership for a digital asset and transactions that cannot be changed.
  
  
• Gratification: NFTs can instantly gratify customers as it makes it possible to offer an instant immutable digital ownership for the product’s NFT alongside the physical product which may reach them in a while. So the customers can show showcase it across their friend’s circles and digital life.
  
  
• Interesting Loyalty Programs: Though customers enjoy rewards and loyalty programs, they may turn mundane and monotonous over time. Whereas, when you offer an NFT – a collectible unique digital token for the product that can’t be obtained from anywhere, it makes their shopping experience with you so exclusive and special.
  
  

Tell us more about your brand and business and we’ll empower you with an outstanding blockchain and NFT-based E-Commerce platform that readies you for your big leap into the world of Web 3.0 business up next