How Cryptocurrencies are Changing Shopper Incentives
Cryptocurrency in Retail and Ecommerce: Changing the Landscape Cryptocurrency and NFTs in retail are both major parts of decentralised ecommerce. With these technologies, they are transforming the industry as we know it, from transaction security, to efficiency, to shopper incentives. A partnership between blockchain and ecommerce has the potential to transform how brands conduct their transactions online and how customers experience shopping forever. But before we dive into this initiative, it’s important to learn about the concept of decentralised ecommerce, as well as the benefits of a Web3 marketplace to the retail industry. What is decentralised ecommerce? The concept of decentralised ecommerce pertains to a model where an environment of mutual trust between parties is created during a transaction. This also means that, rather than the transactions being overseen by a single point of authority, they are distributed in a shared database as a form of transparency. Part of this conce...