E-commerce and transactions online are very popular ways to sell and sell products and services for a long time.
Past purchases can be a complex process involving many trips, but today it can be easily made from your hand palm.
The most popular way of trading online is peer approach peer. It allows platforms like eBay and ETC to buy directly from other users, allowing people to sell their products more easily and take many steps involved with central retailers.
MasterCard has a few explanations of a worldwide market opportunity estimated to be $ 16 trillion for P2P - the growth of mobile apps for trading is a major reason, such as the growing number of platforms for P2P trading.
There are many other reasons for the introduction of P2P trading in traditional e-commerce customers. It's convenient, and there are demand payments. It seems more personal - customers can chat with vendors and ask questions directly about products.
In many cases there is a lack of centralized market, such as virtual items in video games, often, often, the only way to acquire these products is to trade directly with the other person.
P2P Trading is a global market. The Internet lets people close the planet to communicate instantly and the products are matched without much trouble at the international border. The days when the buyers were limited to their immediate geographical area.
However, for all its advantages, there are some flash problems in the P2P e-commerce industry
Subject matter
Most problems with P2P trading are close to the payment. One of the biggest problems is the currency conversion. If a seller of a stamp collector in Canada wants to buy a seller a rare stamp, it is a problem. The customer will send in the Canadian dollars across the payment, and the seller will get the euro.
If payment is sent through bank transfer, banks will deal with transformation. Of course, they are likely to charge a fee. In addition to that, the rate of application conversion can not be the most generous.
Both the buyers and the seller have to take into consideration the applicable fees for the transaction. This can be high - average global remittance costs come at present 7.09%. Can help with other carriers, but it also does not come free - 4.4% of international transactions for PayPal and fixed fees
So it's not cheap. And to make things worse, international displacement times may be lasting. The average time of processing is such a payment within three to five days, if you are in a hurry, it can be frustrating.
Perhaps the most important concern for P2P trading worldwide is the security side. There is no way of regulation or protection for consumers in this market, and it is generally considered below conscience (or seller) to decide whether it is a trade shameless. Along with issues related to settlement of disputes across international borders, scams are often the option to take their fate.
The global P2P trading market is huge and fast growing, but it is not properly controlled. Methods of sending money to this method are old and unexpectedly suitable for a new type of trade.
Blockchain Solutions
P2P trading is a decent way. It happens in people without any kind of third party participation. But now it depends on the central payment system, such as the bank and Western Union established service provider.
What the market really can enjoy is decentralized payment systems, which are separate agencies by different organizations and a high fee of borders.
This blockchain comes here The technology allows for decentralized networks that work at an international level. There is no need to worry about high fees, because there is no third party request for money. What is more, cryptocoence tokens are similar in the whole world, so currency conversion is not a problem here.
Due to decentralized, global nature, blockquake systems can process transactions within seconds instead of day, and the transparency of technology makes it hard to fraud. Smart contracts can be used so that neither the funds nor the products are released, both parties hold their contracts, so that the scams are reduced.
It is highly committed to a recent report McKinsey and Co predicted that the BlackKeyen cross-border P2P market could save $ 3-5 billion
There are many companies to build such systems, such as Stellar, they can easily use their currency currency for transactions between reckless boundaries and avoid many accidents involving purchasing P2P items abroad.
With the help of the stellar, it is possible to make payments in seconds, instead of the day. The platform also provides a secure framework for businesses and businesses. Blockchain offers a new and modern way to deal with a new type of trading. This Global E-Commerce can be easy, secure, and fast for everyone involved
