Amazon to Center: How Block Chain Technology Will Transform Online Retail and Social Networks

nnnRush when comment: online goods and services business development process is not smooth, even in the online shopping has been very developed today can not avoid the central system vulnerabilities caused by security risks. Therefore, the use of block-chain technology to the centralization of the advantages of multiple systems can prevent the loopholes in the various risks, improve process safety and cost-effectiveness. The current block chain technology is also changing the thinking of online retail.n
nnTranslation: Annie_Xun
nOne of the most potential features of the block chain is the cost-effectiveness and security of higher network transactions, which greatly changes the thinking of companies and network users.n
nThe block chain has pushed people to the margins of major changes by using social networks, financial transactions and online legal matters.n
nThe concept of intelligent city combines enterprise information technology and urban asset management, and has begun to use block-chain technology. Such as Singapore through the chain of chain sales of legitimate property rights. These transactions involve contracts, transfer of property rights and encryption of monetary payments.n
nCentralized failuren
nIn order to give people the opportunity to buy and sell items online, in 1995 set up, but the platform is only connected to the buyers and sellers, and did not provide any payment. And the site soon became a place where liars sell fakes.n
nWhen Amazon and eBay were set up, the online retail industry achieved a safer and more convenient online transaction. eBay introduced to the public an online product bidding model and worked with PayPal to provide a faster and more convenient way to pay. Amazon starts with books, but now offers the kind of goods that are beyond your imagination.n
nEven if these online markets are better protected from fraud by buyers and sellers, the system is still vulnerable because it is central. For example, once hackers invade the system, everything is controlled by him.n
nBlock chain benefitsn
nOne of the main advantages of the block chain is security beyond the centralization system. Because the block chain is to the center of the hacker must pass all the “block” in order to steal anything.n
nHackers not only directly from someone else’s account to steal things, but also through the fake. Block chains can easily track product sources. Thus preventing fake goods from entering the market.n

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