Mar 28, 2018

The future of e-commerce in 2018

The future of e-commerce in 2018

Bill Gates has predicted the development of e-commerce through his famous statement: " If your business is not on the internet, then your business will be out of business". So, what is the future of e-commerce in 2018?

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E-commerce is like doing business on the Internet. The world, especially Asia, is experiencing the e-commerce boom. More and more people participate in the e-commerce. Therefore, the article will discuss the future trend of e-commerce in 2018.

Future Technology - The Giant awakened


The Internet is developing at an increasingly high speed. A few years ago, statistics showed that 40% of the world population has joint the Internet. By 2017, this number has increased, reaching 50% or 3.7 billion people – a remarkable number for the development of technology and Internet. The growth of Internet along with the worldwide Smartphones penetration has created a “habitat” that favorable for the e-commerce to develop.

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More and more investors are seeing the potential of the Asian market: Large customer base with comprehensive technological development. This has led to the recent boom in e-commerce, particularly in Singapore, Indonesia, Malaysia, Philippines, Vietnam, and Thailand. Also, the traditional stores have joint the game as the old selling method is no longer in advance. Apart from managing your business at the store, owners also create an online – store in the form of websites or mobile apps. In short, e-commerce has becoming an indispensable trend and growing at high speed in both Asia and worldwide.


Applying future technology to E-commerce


In order to promote the scalability and coverage, many enterprises are gradually applying the advanced technologies to e-commerce. VRCmarket is one of the pioneering e-commerce projects adopting current  groundbreaking technologies.

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Blockchain - The breakthrough technology behind the success of Bitcoin, has great potential in e-commerce applications. Recognizing the potential, VRCmarket has combined Smart Contract to Blockchain, creating a safe and secure trading environment. Both buyers’ and sellers’ benefit will be ensured without the participating of a 3rd party as all contracts made will be executed quickly and efficiently.

In additions, by fusing the new virtual reality technology with a 3D scanning system, the development team off VRCmarket has brought us a brand new technology - VRC3D. Every item selling on VRCmarket will be scanned and stored in a 3D image on the site, providing the most realistic shopping experiences for buyers. Instead of guessing the product’s quality and size from a 2D image, buyers can now interact with the product such as rotating, zooming, or even try the outfit on your body by the help of the scanning and stimulating system.

VRCmarket development team also created AI Big Data technology - a combination of Big Data and AI, in order to deliver the best results in data processing and storing. Big Data is a term used to refer to a large and complex data repository, which cannot be handled by the traditional data processing tools and applications. By adding the “mind-power” of AI to Big Data, data processing will be done much faster and more accurate. AI Big Data application to e-commerce will bring unprecedented experiences, making online shopping becomes faster, easier, and more secure.

Summary


Just as the prediction of Bill Gate a few years ago, e-commerce has become a worldwide trend and will be the most important joint in the global value chain. In that context, the development of  advanced technologies such as AI, Big Data as well as VRC3D, which is being worked on by VRC technology cooperation, will undoubtedly set a new benchmark and orientation for the e-commerce industry in Singapore in particular and the world in general.