Does blockchain smart contracts signal the beginning of the end for e-commerce giants?

 

The prospect of breaking free from the oligopolistic e-commerce giants like Amazon, Walmart, Alibaba, and others to a more fair, decentralized ecosystem using blockchain technology, is a hot trending topic on Reddit.com.

The current e-commerce environment has large middlemen at the top of the food chain making most of the profit at the expense of the sellers and buyers. In addition, these companies have an insatiable appetite for collecting and harvesting consumer data. This exposes consumers to possible data breaches as well as manipulations. Some emerging companies are trying to break down this oligopolistic ecosystem by coming up with innovative ways to facilitate a decentralized peer-to-peer platform that allows buyers and sellers to transact directly using blockchain smart contracts. A smart contract is a computer protocol intended to digitally facilitate, verify, and enforce the negotiation and performance of contracts without third parties.

Spl.yt and ApolloX are often mentioned as two possible disruptors to the current ecosystem that takes away the power from the e-commerce giants and gives it back to the sellers and buyers (and to those along the e-commerce retail chain such as affiliate marketers and dropshippers). They can now freely engage in a true peer-to-peer experience, that is secure and simple via smart contracts.

In short, someone who has something to sell can list their product and deal directly with a buyer using blockchain technology to ensure a more fair and private exchange. Some even speculate that this is now the beginning of the end of the e-commerce giants.

At Addy, an AI-Powered research tool, we organized the recent Reddit questions and answers on this topic for quick and interesting insights. Reddit has around 44,000 subscribers to its subreddit “blockchain” and has more than 700,000 subscribers to “cryptocurrency”. The richness of this data should not be understated but used to uncover predictive insights to future trends. This is but one of various leading topics around blockchain. For more information into the full dataset, please contact us at info@addy.ai.

 

below: Addy’s Tree Map of the top topics about blockchain

 

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