Blockchain Technology Benefit in Tackling Online Shopping Transaction Revocation Issue

Abstract

Online shopping interoperability is focused a long-time ago in data exchange between the shop and the logistics companies. For the payment system, it also communicates well with the banking system. However, revocation transaction issue is still difficult to be handled while enabling interoperability because it involves fairness of related parties and difficulty in maintaining the transaction process till the end. In this paper, we present how blockchain technology might help solving the problem through four aspects: (1) digital access rules, (2) data immutability, (3) package tracking and update, and (4) easy payment management. We then propose payment distribution formulas to address the revocation issue.