In the business of buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions, trust is inevitable, but In contrast, manipulation has become rampant in eCommerce; a conversation with any random person that has ever purchased products online, would reveal that many have either been duped or hold onto the fear that they’d be swindled once they click that ‘buy’ button.
Imagine one person somewhere having unauthorized access to your online wallet. How much can you lose? In fact, it has been reported that once you enter your password/code in some networks, you risk, or would definitely have your information stored somewhere and it can easily leak out to a third party.
Blockchain solves this problem, it has been structured to connect user to user without the middleman. In eCommerce, blockchain potentially cuts out the middleman for all types of transactions, it eliminates the risks that come with data being held centrally because of its ‘decentralized’ aspect, this also means customer data becomes decentralised therefore one needs not worry about leaks to a third party. Points of vulnerability that computer hackers are also greatly reduced.
Capitalizing on Blockchain technology, the Milliods Ecosystem seeks to play a key role in reducing chances where there’s loss of money, when one engages in online transactions and whereby there is no whatsoever undertaking that a vendor can be held responsible, should it be a scam or of poor quality.