Why is Blockchain Ecommerce Marketplace Development An Inevitable Move?
December 27, 2022
Blockchain is a revolutionary technology that is transforming the global economy. The technology has enjoyed a good run in transforming the finance industry and is now all set to disrupt the eCommerce sector.
Ecommerce is among a few sectors that can leverage this futuristic technology to streamline business operations, facilitate financial transactions and bring transparency within the system.
Ecommerce is one of the most lucrative and fastest-growing industries. Integrating blockchain technology in this sector will pave the way for a decentralized economy and alter users' online shopping experience.
Experts believe that implementing blockchain technology in the eCommerce industry will bring the idea of decentralized commerce (DeCo) to reality. With a decentralized eCommerce marketplace, users can process transactions without any central governing authority.
Wondering How The Decentralized eCommerce Platforms Will Function?
The concept of decentralized eCommerce will become a reality with blockchain-based smart contracts. The blockchain-based smart contract will contain predefined rules or guidelines regarding how a decentralized eCommerce platform will function.
Being built on blockchain technology makes it impossible for anyone to alter the information stored in a smart contract.
So now you know that implementing blockchain in the eCommerce sector opens up a whole new world of business opportunities. For this reason, budding entrepreneurs are investing in blockchain e-commerce marketplace development.
They are partnering with the best-decentralized eCommerce marketplace development companies to launch next-gen e-commerce marketplace platforms.
A decentralized marketplace is a profitable business opportunity in the crypto sphere. If you, too, are planning to go for blockchain decentralized marketplace development and launch your eCommerce platform.
Then, our development team is happy to assist you. We have successfully delivered many decentralized blockchain projects, including dApps, crypto wallets, cryptocurrency exchanges, eCommerce marketplace, and the list. Searching for a reliable blockchain decentralized marketplace development company for your eCommerce project? Your search ends at RisingMax.
Jump the decentralized e-commerce marketplace development bandwagon and dominate the future of the eCommerce industry with us.
Ready to move with blockchain decentralized marketplace development? Then, this post is a must-read for you. Here we will discuss everything you need to know about decentralized marketplace before moving forward with developing a blockchain eCommerce marketplace.
What Is a Decentralized Ecommerce Marketplace?
A decentralized e-commerce marketplace is the future of eCommerce platforms.
These new-age marketplaces operate without a central authority and provide a platform where buyers and sellers can interact.
These are more transparent, secure, permissionless, and resistant to censorship.
A decentralized e-commerce marketplace eliminates the need for a business to involve a third party in selling products and finding customers.
Eliminating intermediaries means sellers won’t have to share their profits, and there is no need to comply with their policy.
The interaction between the sellers and buyers is direct and hassle-free, which aids in making transactions swift, secure, and transparent.
Advantages That Make Blockchain Ecommerce Marketplace Development Inevitable For E-commerce Industry
With blockchain technology, the eCommerce industry can eliminate intermediaries like Banks to enable instantaneous transactions. Integrating blockchain into eCommerce will reduce transaction charges, real-time money transfers, and smooth order fulfillment. No need to wait for payment processing or delayed payment with a decentralized eCommerce marketplace.
The biggest advantage of blockchain in the eCommerce business is that it brings transparency to the system. With this improved transparency, customers can easily see their product's location, where it is coming from, real-time tracking, and other details. As an eCommerce owner, you can leverage this transparency to build more trust with your customers.
Swift Information Sharing
The eCommerce platform needs to track products and services from sellers till it reaches the buyers.
During this entire process, the product goes through different channels, and often sharing the exact location or predicting the exact delivery date can become an arduous task.
With blockchain, sharing information between different channels will become swift, tackling silos issues that exist earlier.
Ecommerce is a collection of multiple processes, which is one of the biggest reasons it is costly to start an eCommerce business. However, with blockchain technology, you can integrate all these services such as transactions, inventory, delivery, supply chain, and others under the roof. With a single system, you can reduce the operational cost and provide easy platform management.
Earlier, while making a purchase, a buyer will have to rely on reviews and ratings posted about the product solely. Moreover, the authenticity of these reviews is a doubt in the buyer’s mind.
Decentralized blockchain eCommerce platforms address this issue as the blockchain can remove the fake reviews and verify the authenticity of reviews or ratings by checking if the purchase is made or not.
Buyers and sellers have to pay an extra fee for every successful purchase of goods and services. This might feel a bit odd to pay someone else a fee when there is a transaction between a buyer and seller.
However, with blockchain technology, you can eliminate these intermediaries that eat up a chunk of sellers' profits, and no need to pay the intermediaries.
Customized Reward Plan
Integrating blockchain in e-commerce allows businesses to offer better reward plans based on particular users' purchase history or power. With this, businesses can improve users’ experience with the platform while boosting sales at the same time.
Now you can expand the reach of your eCommerce business to third-world countries with blockchain technology. Eliminate the need for retailers to comply with credit card or banking rules to sell products on your platform. Remove the barrier by implementing blockchain in the eCommerce sector where everyone in the world can buy your product and services.
Enhance Shopping Experience
When you integrate your eCommerce platform with blockchain technology, customers are assured of product delivery with real-time tracking. Blockchain-based e-commerce platform allows users to get real-time updates about their products. This not only assurance of product delivery but buyers are also assured about the authenticity of the product they buy.
Supply Chain Management
Managing the supply chain is a child’s play with blockchain technology. That is why decentralized eCommerce platforms can easily track whether a vendor is maintaining the required product quantity agreed upon.
Transparent tracking of all vendors ensures that adequate product quantity is maintained to ensure the smooth running of the entire supply chain.
Characteristics of Our Decentralized ECommerce Marketplace Development Services
Our development team leverages their expertise in blockchain to offer multi-chain development support per your business needs. Even if you are looking for cross-chain platform development, our team will get the job done for you.
With our decentralized eCommerce marketplace, you will get a reliable solution that maintains the privacy and security of your user’s data and transaction history and prevents online threats.
Enjoy enhanced transaction speed and low gas fees on our decentralized eCommerce platforms with Ethereum’s second-layer solutions.
Our development team offers fully customized solutions and can be easily molded to meet your business needs. With our expertise in a wide range of tech-stack and development tools, you don’t have to worry.
With our expertise in blockchain development, our team offers cross-chain connectivity protocols that ensure the smooth running of your eCommerce platform. Allow users to connect multiple wallets with multiple blockchain networks.
Fundraising and Marketing
Our engaging marketing services ensure that your eCommerce platform expands its user base. Looking for new investors for your eCommerce platform, we also provide fundraising that includes ICO, IDO, IEO, etc under our portfolio.
Blockchain Decentralized Marketplace Development Process We Follow
Want to know why we are the best blockchain e-commerce marketplace development company? The secret lies in the development process we follow.
Our development process revolves around the needs of our customers and project complexity. Have a look at the step-by-step approach our blockchain development team follows:
Our blockchain experts and development team connect with the client for the initial discussion about the project. Here our focus is solely on gathering as much as input and clearing all our and client queries about the project.
Our team will move forward with the project after gathering all the details about the blockchain project.
Next, our development team will carefully analyze the project requirements and prepare a development roadmap. During this stage, we evaluate the tech stack needed, budget estimation, development time, and tools required to complete the project on time.
After getting the final approval from the client, our team will move forward with developing the eCommerce platform. We divide the entire development phase into smaller milestones that make it easy for the client to track project development.
Our QA team tests the project for any bug or minor issue to ensure smooth running after deployment. Any issue with the project, the development team takes over and resolves the issue.
This is a repetitive process and takes place parallel to the development phase. Our goal is to build an eCommerce platform that is error-free, reliable, and scalable.
Post Deployment Services
We provide post-deployment services to resolve any technical issue or timely update the platform to ensure the smooth running of your platform. With our experts monitoring your blockchain-based eCommerce platform 24*7, you don’t have to worry at all. While our team handles the platform's tech needs, our client can focus on the business aspects of the eCommerce platform.
We at RisingMax, house the industry's best blockchain experts, eCommerce developers, QA testers, project managers, and support team. Our team leverages their expertise in blockchain technology to offer multi-chain blockchain e-commerce marketplace development services. Our blockchain expertise includes:
Ripple and the list go on.
How Much Will Decentralized Ecommerce Marketplace Development Costs?
You have read about the decentralized eCommerce marketplace, and it's time to address the big elephant in the room, i.e., development cost.
Regarding the eCommerce marketplace development, various factors weigh in, such as features, tech-stack, features complexity, smart contract, API integration, and more. As all these factors vary from one project to another, so does the development cost.
Thus, sharing the exact cost of decentralization of eCommerce marketplace development is difficult. Although, most eCommerce marketplace development companies charge $70,000 to $120,000 depending upon the project requirements.
For someone who is interested in blockchain e-commerce marketplace development, we recommend doing a requirement analysis first before talking to a marketplace development company. This will give experts a complete picture of your project requirements and assist in sharing the exact development cost.
Need the exact cost of your decentralized eCommerce marketplace? Get in touch with our experts today.
Why Choose RisingMax as Your Blockchain Decentralized Marketplace Development Partner?
We understand that no two business needs are the same. To meet every customer’s eCommerce platform requirement, we offer customized business solutions to meet their needs. With this, we bridge the gap between the changing needs of our customers with our customized solutions.
During the initial consultation call, our team first analyzes the customer's needs and offers the best possible tech solution we can. With our flexible development approach, our team can easily meet our customer’s requirements and achieve maximum satisfaction. Every project is important to us, irrespective of project size and development cost.
At RisingMax, we opt for a transparent pricing approach to ensure that our customers only pay the development cost with no hidden charges. We share all the pricing details with our customers before moving on with the development process.
On-time delivery of your project is our commitment, and we strive to achieve it without compromise. We divide the development of your project into different milestones for easy tracking and to keep our customers updated with the project developments.
Our top-tier blockchain e-commerce marketplace development services won’t come at a high cost. We provide affordable solutions and development tools to ensure that we stay within your project budget while meeting your requirements.
We are available round-the-clock to address our customers' tech-related queries or any technical issue with the project.
Have any doubt related to blockchain or web3 projects; our experts are happy to assist you via email, skype, or any other medium of your choice.
Does your decentralized e-commerce project have a specific tech-stack need? Share your unique project requirement with our blockchain team over a 20-min FREE consultation call.
Still have doubts about decentralized eCommerce platforms. Remember, we are just a few clicks away from you.