How will Blockchain technology enhance e-commerce?

Amidst all the hype of crypto coins there is a solid use case for Blockchain to solve problems faced in the e-commerce space. Full article here: Example Blockchain E-commerce Use Case:

You see a pair of rare sneakers online however they are listed for sale on a website you are not familiar with and you have no way of knowing if they are the real thing or a pair of cheap knock-offs. However, if the product data for the sneakers are stored on the blockchain, then you can verify the authenticity of the sneakers as the ledger will show a chain of transactions for the sneakers all the way back to the 1st block of the chain (genesis block) which would be the manufacturer of the sneakers. Cool right?

Smart Contracts and Logistics

Most people have gone through the stress of paying for something online only to have the item not arrive. There are many factors that render an item M.I.A, such as it being lost in transit especially if the item has been shipped from overseas, or the item being delivered to the wrong address.

If only there was a technology that would allow you to hold on to your funds until the item is delivered, then automatically release your funds to the merchant when delivery is confirmed. Did someone say "Smart Contracts"?

The benefit to the merchant is that if the product or service was provided (the terms of the contract were fulfilled) it would be hard for the consumer to prove otherwise and claim their money back.

Smart contracts can be used on a much larger scale such as large container shipments from overseas, to complex architectural projects which would require a number of contracts when dealing with different construction agencies.

submitted by /u/Alid007
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