Decentralized Shopping - The Natural Next Step
Author: Giftoin team
Decentralization is becoming an increasingly popular trend in politics, social media, finance, technology and other areas. In every walk of life, the decentralized model personifies democratic principles - it ensures privacy, prevents manipulation, boosts competition, and allows equal distribution of profits.
To date, eCommerce giants have basically controlled online sales by setting prices, profits, trends and products. Small and mid-sized retailers, eCommerce merchants and businesses have found it hard to compete with large corporations and marketplaces that manipulate the supply chain and traffic.
However, all this is about to change. The decentralization process has begun to impact technology through the use of the blockchain ledger technique in a growing range of applications. At Giftoin, we believe that the next natural step is decentralized shopping. It is only a matter of time until blockchain technology is applied in the eCommerce shopping arena, and corporate gifting which is ripe for change.
Decentralized shopping breaks down existing monopolization and enables retailers both small and large to compete due to smaller inventories and a deeper understanding of personal shopping habits.
Decentralized shopping is a fairly new concept that offers online retailers key benefits in several areas:
So what’s in it for the rest of us? Quite a lot, it seems:
The increasing democratization which has taken place in many areas from politics to finance to social media will certainly lead to a major revolution in the area of shopping. Just as the move from physical stores to online shops was inevitable, so the decentralization of shopping is a natural evolutionary development, which will undoubtedly bring major benefits to both sellers and buyers.
At Giftoin, we believe that virtual (Web3) gifting will become a major trend once decentralized shopping claims its rightful place.
Follow our blog to discover more about exciting new developments in the world of the metaverse, virtual gifting, NFTs and cryptocurrencies.
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