Business

How Crypto will ignite the evolution of E-Commerce

J.G. Whitley
October 25, 2021

Technologies like cryptocurrency and blockchain have revolutionized modern
society. Just a few short years ago, these were niche technologies that were considered
too specific for adoption. Now, you'll see them revolutionizing dozens of industries
throughout the world, including law, medicine, finance, education, and much more.

The possibilities are endless with crypto and blockchain, and as adoption grows
throughout the world we're only going to see more of these applications. One
particular industry where blockchain and crypto are well-suited is e-commerce.
Below, we'll take a look at why cryptocurrency is the next big thing for e-commerce,
and what the industry can expect.

The Wide World of E-Commerce

E-commerce might seem like a relatively recent development, but the history of e-
commerce
 goes back further than you think. The term itself is meant to refer to any
sort of transaction or business that's conducted online, and began as far back as the
1970s.

It wasn't until the 1990s that the foundations for the e-commerce boom began to be
laid, however. The birth of online marketplaces like eBay and Amazon, as well as
payment tools like PayPal, ushered in a new era of immediate access to goods and
services online.

Fast forward twenty years, and we're living right in the middle of an e-commerce
boom. The industry is now one of the biggest in the world, currently worth
around $5 trillion worldwide
 and only growing. As consumers get more and more
used to the convenience and immediate gratification that e-commerce offers, it's clear
that the market is only going to get bigger.

Where Crypto Fits In

Where does crypto fit in in the middle of all this? There are thousands of
cryptocurrencies
 available in the world today, and an increasing number of these
cryptocurrencies are being used at retail outlets both online and offline. Despite this,
we aren't seeing much widespread adoption of crypto in e-commerce — yet.

E-commerce by nature focuses on speed and convenience. As more consumers get
used to the seamlessness of online shopping, they're going to expect the same of their
payment channels and shipment channels. Employing blockchain technology and
cryptocurrencies in e-commerce is simply the next logical step to achieving that level
of coherence.

Blockchain technology and tokens are set to be an especially important part of the
fulfillment process in e-commerce. The PackagePortal app allows customers to earn tokens by
scanning shipping labels
. These tokens are meant to incentivize customers to scan
their shipping labels with their devices, enabling real time delivery information and a direct feedback loop between merchant and consumer; unconfined by carrier data silos.

Why Early Adoption Matters

Tech moves fast in the digital age. If there's one thing that's clear about the 21st
century, it's that innovators always lead the pack.

This is an era where early adoption for the right kind of tech can end up spelling the
difference between success and obscurity. For crypto and blockchain technology in
particular, early adopters who adjust to the new tech have a hand in shaping the
future.

Blockchain technology and all that comes with it is here to stay— that much is
certain, especially given how industries all over the world are making use of it. In the
case of e-commerce, adaptability and innovation are especially important both to
increase efficiency and to help a brand start out from the rest.

Given the increased efficiency and overall convenience that blockchain and crypto
tech can bring to e-commerce, it's not hard to understand why the tides are shifting.
Companies that choose to step in early and lead the way with this new technology are
going to set the stage for the rest of the e-commerce industry. And that position at the
head of the pack is where PackagePortal is poised to be.

There is much on the horizon for our company. Merchant integrations and user acquisition will be our primary focus for the remainder of the year, and will continue heavily into 2022. We are excited to be at the frontlines of global adoption, with a product and service that provides real actionable value, to a massive marketplace. Rather than just fueling speculation and hype, we present the world of e-commerce shoppers and shippers with the ability to own their delivery data and the value it creates, by giving them a marketplace for exchanging that data among themselves.

J.G. Whitley
Hi, I'm J.G. one of the founders of PackagePortal. When I'm not building or creating, I like to descend mountains on two wheels.

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