Effect of Blockchain on E-commerce and Law

1Preeti Sanger, Dr. Ashu Maharishi

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Abstract:

In today's business world. Two of the most important parts are security and effectiveness .Much of the world’s total population is actually moving towards into e-commerce since for their effective and easy ; But ever since, security has been the most crucial concern which actually breaks through the development of progressing business. One of the solutions is called as blockchain security which could really improve the integrity of the e-commerce utilities. Block chain also being called as Distributed Ledger Technology (DLT), is a tamper-resistant and tamper-evident digital ledger consumed in different and scattered fashion. This arousing technology, which actually enables straight through transactions within a ledger till the requirement for indulgence in trusted intermediary or central authority , had ability to re-assemble the economic models which actually enables the development of products and markets which were previously not available or non-profitable through the growing markets. But taken into consideration of the possible advantages of blockchain, firms should also taken into the account the inbuilt risks associated with it and through what are the methods they could be managed. The work thereby presented elaborated the bitcoins along with different aspects which are related to bitcoins together with mostly the bitcoins used in ecommerce has been demonstrated with entire of the side walls of outlook of the bitcoins along with e-commerce.

Keywords:

Bitcoin, Cryptocurrency, e-commerce, transection, Ledger, Legal.

Paper Details
Month4
Year2020
Volume24
IssueIssue 5
Pages7771-7783