Digital technology today is bringing about changes at a very rapid pace. At almost on a daily basis, technology has been scaling new heights of successes, affecting all sectors of society. One of the successes of technology in this aspect is the development of Blockchain technology. This new technology has greatly impacted the finance industry. From its initial goal of buttressing the Bitcoin and other types of cryptocurrency, blockchain technology is now being applied in many other things too.
What is Blockchain Technology?
Blockchain technology was developed by a person or entity known only by its pseudonym Satoshi Nakamoto. Initially, it was intended to support Bitcoin so as to provide some layer of protection for both buyer and seller using the digital currency. Since its inception, however, Blockchain has evolved into something more of the backbone of a new kind of Internet. Metaphorically speaking, Blockchain functions like an electronic spreadsheet that updates itself on a regular basis. It holds massive amounts of information as shared database and it gets to be reconciled continuously. As shared database, it does not reside on a single location, its records have genuine public attributes and it can be easily verified.
Where does Rocketfuel come in?
While Blockchain technology makes it easy for parties to access data, this very feature results in a security nightmare. RocketFuel Blockchain Company has developed a technology that offer secured and efficient checkout systems to eCommerce. The main objective of Rocketfuel is to ensure that users will find it easy to checkout and at the same time, be assured in the fact that the system has several layers of security that will protect their data. With the technology that Rocketfuel has developed, merchants will also be able to introduce novel impulse buying strategies that are not present in today’s eCommerce sites. The new functionality, as introduced by Rocketfuel’s blockchain technology, will revolutionize value transactions in many levels. With this technology, it will not be impossible for blockchain functionality to be implemented in the real world, making it easier for both merchants and consumers.
How Will It Revolutionize eCommerce?
The problem with the present eCommerce shopping cart model is that its current setup often leads to a high rate of cart abandonment, thus resulting in losses for the merchant. The usual cause is oftentimes the number of clicks required for the user to get to the checkout area. This is one of the problematic areas that Rocketfuel wish to change. With its new blockchain-enabled eCommerce solutions model, the number of clicks to complete checkout is reduced from about 70 clicks to around 2 or 3 clicks. While this may not totally eradicate all other problems that eCommerce sites have, it is a step in the right direction which could lead to higher sales for the merchants.
The technology being introduced by RocketFuel Blockchain Company is being looked at as one that will propel eCommerce solutions into the next millennium. With its promise of being able to completely enhance and improve the system in terms of speed, efficiency, and security, users will find it very pleasing to buy things online. This will result in higher customer satisfaction, which can lead to higher sales for online merchants. With RocketFuel Blockchain Company paving the way for this to happen, the future of eCommerce looks very promising indeed.