BCSHOP
This is an online platform for selling products and services based on smart contracts on Ethereum block chain. It enables the vendors to publish every fine details about their products and services and making it available to the customers every time.
POSITIVE VALUES
Conviniency: The use of smart contracts ensures a faster and more efficient way of offering the products and services promoting a trusted co-existence between the vendors and their customers. This easens all the transactions appertaining the businesses making the application of the project viable.
Reduced costs: The payment processes, product delivery and controlling the business conditions is done automatically which further saves the customers time with improved efficiency. This is less costy as compared to the traditional system as it doesn’t have any hidden cost e.g the cost of covering the data and using intermediaries.
Security: All the payment and delivery details of any transactions effected are safely stored on the Ethereum block chain eliminating forgery and hackers. This prevents the public from knowing the business status of the customers making the project beneficial to the customers.
Free integration: The use of block chain technology enables the customers to purchase the goods and services using all the native crypto currency hence eliminating restriction of any currency. This creates a conducive environment for trading despite the diversity of cultures.
The proper integration system allows for product and services posted by the vendors to be further attached with comments relating their suitability to the customers enabling the customers to make right decisions during the purchase.
NEGATIVE VALUES
The project doesn’t fully embrace technological advancements through the use of phone related applications which are easily accessible to the customers through their smart phones using the android or IOs systems. This hinders frequent updates about the available products and services from the vendors.
RECOMMENDATIONS
The status of different sectors has been uplifted by technological advancements involving the application of block chain technology. The Bschop project is therefore highly recommendable in the transformation of business sector with the application of Ethereum block chain technology making all the transactions efficient, transparent and user friendly as compared to the traditional models making it viable in promoting a great economic growth through businesses.
