E-Commerce is a process of the carrying out the commercial transaction electronically with the help of the leading technologies via internet. It is the process of buying and selling of products and services by businesses and consumers through modern technologies. There are three main categories which are business to business (B2B), business to consumer (B2C) and consumer to consumer (C2C).
History of e-commerce begins in the prehistoric days of Arpanet. The history of this vast improving system is how information technology has changed business processes into how it is at the present. At early 1960s, Electronic Data Interchange (EDI) was first being brought in as a set of standards to exchange business information and execute electronic transactions. At that time, several dissimilar EDI formats that business could use, so companies still might not be able to interact with each other.
Then again, in the year 1984, an EDI named as ASCX12 has expand and was effortlessly accepted by new businesses for transfer of huge amount of data and transactions. However, in year 1992, the first web browser- Mosaic was developed and being widely used and later on Netscape was quickly adapted into downloadable software which permissible easier access to e-commerce.
In addition, the development of DSL was another significant moment in the development of e-commerce. DSL allowed quicker access and a persistent connection to the Internet. In 1998, it was the highlight in the development of e-commerce which achieve 1 billion online sales with AOL and the development of Red Hat Linux was also another major step in e-commerce growth. Linux stood as a very good opportunity against the Windows as it was consistent and open sourced option for consumers. With huge competition from Linux, Windows began expanding its ability to deal with e-commerce matter.
A major merger between AOL and Time Warner in early 2000 was another major push for e-commerce. By then, Yahoo, eBay and Amazon.com were popular sites, their names synonymous with Internet use and e-commerce. The need for high security where e-commerce was concerned developed as the hackers attacked these sites in the year 2000. It is predicted that that revenues, up until 2006, will grow 40% to 50% yearly. Expectations of higher prices as well as larger profits for e-commerce business are also present. Also, we will see a larger presence by experienced traditional companies, such as Wal-Mart, on the Internet.
Lastly, e-commerce is a history of a new, virtual world which is evolving according to the customers’ advantage. The evolution of this will never end as long as technology breaths in the air, it will continue improving for the better. E-commerce has come a long way, evolving from organizations billboards to a fully functional personalized shopping experience. Although the road was bumpy from 1994-2004, it has now become a crucial part of Internet pioneers and technology innovators.
by, melsiew
more info at:-
- e-commerce as a revenue stream
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