Development of transaction model using blockchain technology for e-commerce management

Srinivas, D. and Malik, Sakshi (2024) Development of transaction model using blockchain technology for e-commerce management. In: Proceedings of the 5th International Conference on Data Science, Machine Learning and Applications; Volume 1. Lecture Notes in Electrical Engineering, 1 (1273). Springer, pp. 1119-1125. ISBN 9789819780310

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Abstract

The rapid proliferation of e-commerce has revolutionized the way organizations operate and consumers shop. However, the conventional e-commerce landscape is plagued by trust, transparency, and security issues, hindering its full potential. With its decentralized and immutable ledger system, blockchain technology offers a promising solution to address these challenges. This research endeavours to design and implement a transaction model harnessing the power of blockchain technology to enhance the management of e-commerce platforms. The proposed transaction model leverages blockchain's core features, such as transparency and security, to create a trustless environment for e-commerce transactions. Smart contracts, programmable self-executing contracts, are employed to automate and streamline various aspects of the e-commerce process, including order placement, payment processing, and order fulfilment. These smart contracts are designed to be transparent, tamper-proof, and accessible to all stakeholders, thereby reducing the likelihood of fraud and disputes. In conclusion, this research project endeavours to contribute to the advancement of e-commerce management through the development and implementation of a blockchain-based transaction model. By enhancing trust, security, and transparency in e-commerce transactions and supply chain processes, the potential benefits of this technology for both businesses and consumers are substantial, paving the way for a more efficient and trustworthy e-commerce ecosystem.

Item Type: Book Section
Keywords: Blockchain technology | E-commerce transaction model | Smart contracts | Transparency and security | Trustless environment
Subjects: Social Sciences and humanities > Business, Management and Accounting > Business and International Management
Social Sciences and humanities > Business, Management and Accounting > Management of Technology and Innovation
Physical, Life and Health Sciences > Computer Science
Social Sciences and humanities > Social Sciences > Social Sciences (General)
JGU School/Centre: Jindal Global Business School
Depositing User: Dharmveer Modi
Date Deposited: 04 Nov 2024 17:21
Last Modified: 04 Nov 2024 17:21
Official URL: https://doi.org/10.1007/978-981-97-8031-0_118
URI: https://pure.jgu.edu.in/id/eprint/8757

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