With the introduction of blockchain technology, several sectors including health, technology and finance have changed drastically. Several positive outcomes have been reported as a result of implementing the blockchain. Trimpo provides a blockchain solution designed specifically for eCommerce marketplaces, helping them streamline processes and boost sales.
Rapidly evolving Tech
Right from the 90s, technology has been evolving at a rapid rate. The year-on-year growth that technology is currently witnessing is mind boggling. Technological innovations are getting obsolete in months as opposed to years earlier. Keeping up with this evolution will give businesses an edge over others. This is where Trimpo comes into the picture. We take care of the technical aspects, keeping eCommerce companies up to date with the latest technology.
Enhancing productivity and efficiency
As real-time data is available on the blockchain for all to see, the loopholes and issues can be rectified as and when they occur. This in turn enhances the productivity and efficiency levels of the employees. Due to the streamlining and interlinking of all the stakeholders, it improves workflow efficiency as well.
Non blockchain eCommerce transactions involve several middlemen who charge their own rates of commission. This reduces the profit margins for the actual stakeholders (ideally just the supplier, seller and buyer). But when it comes to blockchain, the need of middlemen is non-existent, as the blockchain handles transactions automatically by means of smart contracts. Thus, there are better margins for the people involved, making the business economically viable.
Due to the fact that every issue can be traced back to the source, the employees are more alert and tend to be accountable for their actions. This reduces leakage and promotes an atmosphere of fair and ethical working practices.
Transparency and Trust
Blockchain technology has brought with it the concepts of transparency and free-flowing trust (or rather a trustless marketplace). This was unseen or unheard of in the eCommerce industry until a couple of years ago. This also helps build up a positive ecosystem that constantly interacts with each other (the supplier, seller and buyer, in this case) facilitating repeat transactions.
Every transaction on the blockchain is publicly logged and verified multiple times by unique witnesses, after which it is added as a new block on to the chain. This block once added, is irreversible and indestructible. All the data stored in it is available publicly for eternity. This ensures that there is no tampering of data or fuddling of funds.
Unlike other management systems which tend to have restrictions on the size of the database or the number of elements it can register, the blockchain isn’t prone to such hindrances. The blockchain is easily scalable based on the client requirements. In case a company wishes to branch out into new geographies, scaling the existing blockchain is just a matter of a few minor changes to the underlying code. This paves the way for quick and expansive growth of a business.
Having a distributed online ledger in the form of a blockchain reduces your carbon footprint, minimizes the need for dedicated storage on server farms that consume large amounts of power, and also saves paper by not requiring an offline hard copy of the data.
From the above pointers, it is clear that Trimpo’s blockchain solution is changing the eCommerce landscape globally, empowering many small businesses to dream big, without having to shell out a bomb. Get in touch with our team for more information on how Trimpo can help you skyrocket your eCommerce business.
To learn more about Trimpo & it’s offerings, visit www.trimpo.org.
If you’re looking to build Thought Leadership in the blockchain space, say Hi at email@example.com.