E-commerce is a rising business domain at the present time. Everyone is purchasing and selling products online. This has been the trend but like every other business platform, e-commerce has its own pros and cons, whereas, in this business platform, the involvement of third-party factors has been decreasing the efficiency of the business platform. The decline has caused the customers to feel dissatisfied and move away from the platform and search for alternatives. The main problem is the delivery of the product on time and place. This has been a huge drawback for business platforms. To overcome this issue, the DeFi domain is introduced.
Decentralized finance in e-commerce has changed the landscape of the e-commerce industry. It has enabled the precision delivery of products on time and place. This precision is provided because of the exclusion of intermediaries. E-commerce enabled buyers to experience a seamless purchasing and selling process online.
Decentralized finance in e-commerce allows the buyer’s transaction to be completely secured and safe, therefore, hacking or data manipulation cannot be done. These DeFi platforms track the delivery of the products with complete accuracy and it is impossible to lose sight of the product after its departure. The main specialty of the DeFi e-commerce platform is its ability to use smart contracts to the fullest. This completes the transaction from the end to the other end without any involvement of intermediaries and cyber manipulation.