Effect of Blockchain Technology on the Future of E-Commerce in India
Chhavi Sharma, Supriya Kamna · Auerbach Publications eBooks · 2023
The market has been dynamic for years. A local community shopkeeper, selling goods, was considered a business person. Days advanced and with the help of transportation facilities and the world community getting together, the market has expanded to a global village. The market remained dynamic and gradually marketplace has been replaced by market space. All the market tactics of retailing changed into e-retailing. The trade and business of the simple shopkeeper have turned into e-commerce. The market is still dynamic and new technologies are changing their shape. Blockchain is an extremely budding technology that is affecting the digital world. E-commerce is not an exception. Different research scholars worked on the application, app platform, ledger, hash, and Prev. hash till now. In this research, researchers have not focused on the cryptographic technicalities, rather they tried to sketch the experience of e-commerce after the application of blockchain technology. Researchers have tried to conduct a focused group study on the affected areas of blockchain technology in e-commerce in India. IT professionals, software developers, and engineers from Delhi NCR have been selected for the study. A valid and reliable questionnaire (using SPSS, FA, and Cronbach&s;s Alpha) has been administered among respondents. The response to that the effect of blockchain technology has been scored on a five-point scale. Researchers have detailed the reason for the advent of different e-commerce experiences like automated traceability, automated quality inspection, scam-proof e-commerce, and new product lines. The uniqueness of the research lies in the selection of the constructs of the questionnaire. Before making the closed-ended questionnaire for the issue, the respondents were asked to email their viewpoints about the impact of blockchain technology on e-commerce. Their responses were used to draft the questionnaire, so it can be expected that the research paper sketches the most proximal figure of e-commerce in the future.