Using Web3 Wallets for Payments – The Next Frontier in Online Shopping
Blockchain is reshaping the e-commerce landscape with its robust security and privacy standards. Web3 wallets are leading the way for the new frontier in online shopping.
Blockchain is changing the e-commerce sector, shaping Web3 online shopping.
Today, people are tech-savvy almost from the first month of their lives. You’ll find infants handling smartphones better than most people from the previous generations. This would have appeared as science fiction even in the 90s but not anymore. Much has changed in the past two decades. Over 4.9 billion people are connected to the internet. Businesses have evolved to bring everything to the consumers’ fingertips. Today, the global eCommerce industry is worth over $13 trillion.
Despite this rapid expansion, grave privacy and security concerns have arisen. Nevertheless, the advent of Web3 is a promising effective solution. Blockchain is reshaping the eCommerce landscape with its robust security and privacy standards. Even the use of cryptocurrencies is eliminating the need for traditional payments. We are thus progressing to the next level, namely crypto commerce (c-commerce). Web3 wallets are leading the way for this new frontier in online shopping.
Online Purchasing, From Web1 to Web3
eople purchased items from local shops via telephone in the 1980s. You may or may not identify that as a primitive form of online shopping. Things started gradually changing with the internet’s emergence and rising popularity.
Web1 couldn’t enable much online shopping. Its read-only nature was a severe impediment. At best, businesses could advertise their products online. But soon, with Web2, companies like eBay, Amazon, Alibaba, and Rakuten arrived on the scene to stay and grow. They revolutionized online purchasing and offered a wide range of services using cutting-edge technology.
Thereafter, around 2010, the rising popularity of social media initiated the next phase in digital commerce and marketing. It even enabled what we now call social commerce. However, when global smartphone penetration reached 80% in 2017, online purchasing started breaking all past records, and by 2019, global online sales crossed $3.5 trillion.
Three years hence, we are witnessing another paradigm shift in online commerce, driven by innovations in Web3. The process began in 2008-9 with the introduction of blockchain technology. It enabled permissionless, open-source, and globally accessible marketplaces and payment solutions, fostering c-commerce. We can now make online purchases using non-custodial wallets that don’t collect, store, or expose our personal information.
Today, we have integrated online shopping platforms like exeno, where one can purchase top-quality products using Web3 wallets. Our platform even has a native digital currency, exeno coin, that further streamlines your online shopping experience. You can also use popular crypto wallets like MetaMask and Binance Pay on exeno.com, that too without the hassle of additional registrations. This, however, is only the tip of the iceberg.
The Consumer is (Actually) King
With Web3 and c-commerce consumers are finally at the center. Being consumer-centric and community-oriented actually supports c-commerce platforms. And most importantly, we now have tools to ensure this optimal foundation.
Using exeno you have complete control over your data and information, despite accessing tailored products and promotions. We also replace cumbersome sign-up procedures with easy and hassle-free login facilities using Web3 wallets.
The crux of the matter is that we provide a comprehensive platform that meets all your online shopping needs. Moreover, as a leading c-commerce platform, we ensure complete security while making your online shopping and payment experience fast and frictionless.
Having said that, let’s wrap us this discussion by highlighting how c-commerce is not only the present but also the future. If there’s one thing that Web3 is teaching us, it’s the fact that businesses thrive when they work with the consumer and not against them.
Consumer satisfaction is key to sustainable growth, especially in crises like the recent pandemic.