EXPLORING BLOCKCHAIN TECHNOLOGY AND ITS IMPACT IN E-COMMERCE

Abstract

Blockchain technology has fundamentally transformed the landscape of digital transactions and data management, deeply influencing the domain of e-commerce. Its integration across various sectors has revolutionized the access to secure, transparent, and efficient transaction mechanisms, thereby promoting financial inclusivity and advancing contemporary business practices. Moreover, blockchain enables enhanced supply chain management, robust data protection, and the decentralization of marketplaces. The purpose of this article is to examine the multi-faceted impacts of blockchain technology on e-commerce effectiveness and to assess its potential as a cornerstone for digital transformation in commercial operations. Utilizing a case study methodology, the research explores practical applications of blockchain in e-commerce, particularly focusing on systems like the IBM Food Trust for improving supply chain transparency and consumer trust. The study employs a comparative analysis to delineate the effects of blockchain on operational efficiency and consumer satisfaction. While the findings acknowledge the profound short-term benefits of blockchain implementation, they also highlight significant challenges related to scalability and regulatory frameworks that could affect long-term integration. The article concludes that continued innovation and regulatory evolution are essential for blockchain to become a major driver of economic competitiveness and digital transformation in the global market.