Now that the concept of decentralized e-commerce has been created, the platform should be called centralized e-commerce. Centralized platforms have expanded through the dot-com and mobile revolutions, providing consumers with unprecedented benefits. However, it is also true that excessive brokerage costs have been passed on to consumers, and problems have been created by indiscriminate information collection and sale of collected information for efficiency.
A centralized platform evolves into a marketplace in its own right. As the platform grows and establishes itself, it may experience the lock-in effect, making it challenging for other market participants to easily break through this solidification.
There are two approaches for new platform entrants to displace incumbent platform operators.
One is a more powerful centralization method using technology such as artificial intelligence (AI) and the other is decentralization.
Bitcoin's structure for peer-to-peer financial transactions is perfect. But Except for the question of whether Bitcoin has value or not, whether it is a currency or not, the problem of Bitcoin that I judge lies in the process of deriving the price of Bitcoin.
The price of Bitcoin is derived from both peer-to-peer (P2P) and centralized exchanges. When determining the price of an asset, a higher trading volume contributes to a more reliable price. Therefore, if we have to choose between the price derived through P2P and the central exchange, the price from the central exchange with a large volume of Bitcoin is considered more reliable.
The price of a single Bitcoin commodity that enables perfect peer-to-peer is also dependent on the price derived through a central exchange (coin market).
Is it feasible to implement a peer-to-peer model in B2C platforms that handle millions of products?
Web3 represents an ideal world, but the reality often diverges from this ideal. Moreover, even if the structure is deemed perfect, it remains susceptible to external influences.
Bitcoin, as a pioneering cryptographic technology in the blockchain industry, has made significant strides but its primary focus has been on enabling decentralized financial transactions. While it has reduced reliance on traditional banking systems for money transfers and storage, Bitcoin itself did not achieve complete decentralization across all facets of its operations.
Similarly, in the realm of e-commerce platforms, our objective is to decentralize the core functions of product brokerage and advertising. To achieve this, we propose leveraging NFTs as a means to transform reviews into multi-purpose tools that serve as both advertisements and customer feedback systems. These NFT-based reviews can be applied across all e-commerce platforms.
in other words Bitcoin pioneered blockchain technology for peer-to-peer financial transactions. Now, we're applying NFTs, another blockchain technology, to transform review data into MyData. Prosumers then utilize this MyData to establish decentralized e-commerce platforms that distribute advertising functions among participants. It's a logical and concise approach to decentralize e-commerce and empower users in the process.
Our current structure deviates from the peer-to-peer nature advocated by web3.0 and Bitcoin. By considering the platform as an operator, we move away from the principles of web3.0. Additionally, relying on a platform as a third party introduces elements that differ from the original decentralized structure of Bitcoin, which was established a decade ago. However, it's important to understand the nature of a platform. In essence, the platform functions as the market itself(Price mechanism), even before assuming the role of a third-party operator.
In conclusion, Bitcoin decentralized banks and we aim to decentralize centralized e-commerce platforms to make the market more efficient.