IT Trends

1. E-commerce
E-commerce, also known as electronic
commerce or internet commerce, refers to the
buying and selling of goods or services using
the internet, and the transfer of money and
data to execute these transactions. E-
commerce is often used to refer to the sale of
physical products online, but it can also
describe any kind of commercial transaction
that is facilitated through the internet.
Whereas e-business refers to all aspects of
operating an online business, ecommerce
refers specifically to the transaction of goods
and services.
Types of E-commerce Models Examples of E-commerce
1. Business to Consumer (B2C) 1. Retail
2. Business to Business (B2B) 2. Wholesale
3. Consumer to Consumer (C2C) 3. Dropshipping
4. Consumer to Business (C2B) 4. Subscription
5. Digital Products

Advantages of E-commerce
 Faster buying/selling procedure
 Buying/selling 24/7.
 More reach to customers, there is no theoretical geographic limitations.
 Low operational costs and better quality of services.
 No need of physical company set-ups.
 Easy to start and manage a business.
 Customers can easily select products from different providers without moving around physically.
Disadvantages of E-commerce
 Any one, good or bad, can easily start a business. And there are many bad sites which eat up customers’
money.
 There is no guarantee of product quality.
 Mechanical failures can cause unpredictable effects on the total processes.
 As there is minimum chance of direct customer to company interactions, customer loyalty is always on a
check.
 There are many hackers who look for opportunities, and thus an ecommerce site, service, payment
gateways, all are always prone to attack.

2. Bitcoin
 Bitcoin, often described as a cryptocurrency, a virtual
currency or a digital currency - is a type of money that is
completely virtual. It's like an online version of cash. You can use
it to buy products and services, but not many shops accept Bitcoin
yet and some countries have banned it altogether. The physical
Bitcoins you see in photos are a novelty. They would be worthless
without the private codes printed inside them.

The best part of bitcoins is there’s no third party in this

system. Every transaction through bitcoin happens only between
users, without any intermediary.

Other than using bitcoin in lieu of services, products, and

currencies, you can use bitcoins as investments as well.

As per the research of Cambridge University in 2017, around 2.9 to 5.8 million users of bitcoins were
reported.

And as of August 13 10:20am UTC, one bitcoin is equal to 589,190.48 pesos.

Who created it?

A pseudonymous software developer going by the name of Satoshi Nakamoto proposed bitcoin

in 2008, as an electronic payment system based on mathematical proof. The idea was to produce a means of
exchange, independent of any central authority, that could be transferred electronically in a secure,
verifiable and immutable way.

To this day, no-one knows who Satoshi Nakamoto really is.

How does a Bitcoin work?

Each Bitcoin is basically a computer file which is stored in a 'digital wallet' app on a smartphone or
computer. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to
other people. Every single transaction is recorded in a public list called the blockchain. This makes it
possible to trace the history of Bitcoins to stop people from spending coins they do not own, making copies
or undo-ing transactions.

Advantages of using Bitcoins

 Hidden Identity
 No Gatekeepers
 More secured
 Swift and Global
Disadvantages of using Bitcoins
 Every transaction is irreversible
 There is no safety net in case of critical transactions

Sources:

Advantages and Disadvantages of Ecommerce. (n.d.). Retrieved from

http://www.esalestrack.com/blog/2008/09/advantages-and-disadvantages-of.html
Ecommerce (n.d.). Retrieved from https://www.shopify.com/encyclopedia/what-is-ecommerce

Guide: What is Bitcoin and how does Bitcoin work?. (2018, October 31). Retrieved from

https://www.bbc.co.uk/newsround/25622442

Vaidya, Dheeraj (n.d.).Advantages and Disadvantages of Bitcoin Technology. Retrived from

https://www.wallstreetmojo.com/bitcoin-technology-advantages-disadvantages/

What is Bitcoin? (2018,January 26). Retrieved from https://www.coindesk.com/information/what-

is-bitcoin