The ether market: how to make the chain chain in the field of electricity to better play a role

nnnE-commerce is now one of the more robust industries, but due to some restrictions on the existing payment platform, it still needs to block the chain of this emerging technology to achieve the development of power. Basically, the application of block chain technology can break the monopoly of the industry to help small companies to establish credit and reputation, so that online payment is more convenient and cost-effective. Many electric business enterprises have also noted the advantages of the block chain, Alibaba has already started the relevant research.n
nnTranslated by: Inan
nIt is expected that by 2020 the market value will increase to 4.058 trillion US dollars of the global electricity business sector need to block the chain to achieve development, especially in the ether market. Statista noted that the number of online purchases of goods or services will increase from 1.46 billion in 2015 to more than 20 billion in 2020.n
nIn addition to helping to break the monopoly of top companies (for example, Google’s search advertising revenue accounted for 77% of the total revenue in the United States, Amazon control more than 40% of the US electricity business), to the center of technology can help companies improve credit and Reputation, which in the past are determined by the huge market.n
nBlock chain and e-commercen
nThe application of the block chain may make it impossible for businesses in the electricity industry that do not belong to the centralized market to do trust by trying to advertise. This is because the technology works through a distributed book model, recording each transaction and maintaining the authenticity of information on a secure and tamper-resistant global network.n
nFor example, in the payment department, PayPal has always had a competitive advantage. However, despite the wide coverage of the platform, some countries are still excluded, such as one of the largest economies in Africa – Nigeria, the country’s users have been unable to use its services for many years.n
nLater, although it began to provide services to Nigeria, but only allows users to pay, can not receive money. This makes it easy for people to find online payment and payment methods.n
nPayPal’s centralization also allowed it to stop its operations in Turkey last year, according to reports that the situation was due to its failure to comply with the law.n
nSince PayPal was not licensed by the Banking Regulation and Supervision Agency, Turkish users began to use Bitcoin to join a free market.n
nExpensive and long payment processn
nMonasa co-founder Justas Pikelis believes that the use of block-chain technology, many problems will not happen again, there is another serious problem in the electricity industry, that is, expensive and long payment process.n
nHis company pointed out that the payment process required about 16 steps to deal with the transaction, up to pay the gateway to pay 15 fees, transaction fees in the transaction 2% plus 0.1 to 6% of the transaction between 0.7. Using a block chain can shorten this long process.n
nPikelis said in an e-mail:n
nn”E-commerce needs block-chain technology to keep up with the pace of the future. Block chains are the perfect tool for making e-commerce more efficient and trustworthy, for example, payment processing using block chains is more likely to achieve fast and cost-effective Trading, and smart contracts can make a variety of improvements in e-commerce and payment.To take Monetha, to the center of credit and reputation system (Decentralized Trust and Reputation System, DTRS) is the best proof.No block technology, DTRS It is impossible to bring so many benefits. “n
nnIn 2015, the financial business giant Alibaba’s financial cloud service mentioned the possible benefits of using a block chain. It has been reported that Alibaba’s $ 60 billion financial sector Alipay is recruiting block-chain experts to actively study the potential of block-chain technology.n
nThe continuous development of the ether square economyn
nAnother problem with the application of block chains in the field of electricity is that it can not participate in the growing ether-based economy.n
nAlthough the ether square has made significant progress, but its digital assets – to Taitong – has not been used as a way to pay business. The market capitalization of the currency has reached $ 21 billion, and the products developed on its platform have also issued tokens.n
nBy 2025, 10% of the world’s GDP is expected to be generated in the chain chain, this new chain created by the chain of chains will attract business participation.n

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