Bitcoins/Cryptocurrency change the future of Indian E-Commerce
The emergence, existence, spreading, impact have the ultimate effect on Indian E-Commerce.
Cryptocurrency is an innovative concept by a Japanese technocrat. This is a digital currency, not a tangible one. The number of currencies is certain which cannot be extended for further transactions. So based on demand the value increases.
Many economical, political, social changes, natural calamities have taken place in the past decade: there is a lot of crash & crack in all walk of life. Despite all these happenings-including wars & bio wars the cryptocurrency exists, sustains, in fact, attracts high value. People follow “only the success not the failure“.
Following bitcoin-the first cryptocurrency, many “Giants to Jacks” entered into cryptocurrency.
The silently started cryptocurrency started to grow very slowly, but the process is a network. So the growth is in a Geometrical ratio, unlike all the regular currencies. The network is to make the money but on-demand money itself became almost like a commodity. People will “bet only on winning horses”.
The E-Commerce of today and tomorrow
Change is a changeless process. Just imagine the communication media just 3 decades ago: landline phone, the long waiting period for phone connection. That itself became a product business. Just recollect how many STD booths opened. How pager was introduced: how the mobile phone was costly, the tariff was high. How many of us used mobiles. Just a few in the city, great business magnets, rich & sophisticated society. Now every individual has 2 mobiles-2 sims each. Everything is connected with a mobile number. Now without mobile……any transaction is possible without OTP
- All governments impose digital transactions.
- Payment through net banking.
- Registration, ticket booking, purchase etc through online.
- Now every second person in the cities at least do 1 purchase daily….food, medicine, grocery or anything.
- Since cryptocurrency is a digital currency, the transaction is applicable & possible only by online. So cryptocurrency is the apt money for E-Commerce.
- As it is a virtual currency neither government permission is required nor governments can ban this. So the existence is stable and assured.
- Now it is mining. People are tempted to invest a small amount of any currency as bait & catch a giant shark of high valued cryptocurrency within a short period.
- Now many countries accepted and declared the cryptocurrency can be used for paying wages & salaries to employees and other transactions. Petrol bunk and others declared-announced the acceptance of cryptocurrency.
- Indian government & courts also recognize and approved, permitted transactions. The Indian government furthermore is going to amend the taxation for digital transactions. So it is knowingly or unknowingly legalized.
- There are only 197 countries in the world: but there is a minimum of 900 well-accepted cryptocurrencies are existing. So within a decade, almost everyone will have cryptocurrency. Meanwhile, all the common people are necessitated to accustom with the use of crypto and the transaction system which may lead to end up with e-commerce trade every now and then.
- On the basis of necessity and possibility by the cryptocurrency, the growth rate is enormous for e-commerce.
- Even banks may follow and exchange for our money
- Like Phone pe, hawkers, peddlers, shops and malls government and non-governments,” fish to plane” everything will be under E-commerce business.
- Unlike money or credit/debit cards. The cryptocurrency transacted through the wallet cannot be cancelled. So all sellers will prefer only crypto currency-so also by the net transaction (E-Commerce).In fact, sellers may declare more benefits like bonuses, price discounts, discount coupons etc for the cryptocurrency payments.
Conclusion
It is needless to say that cryptocurrency backed E-Commerce will rule the business world in the next decade.
