Traditional e-commerce experiences significant challenges, including high business costs and serious security risks for users. Web3Bay provides an innovative blockchain-based solution.
E-Commerce: High Costs and Inefficiency
Leading e-commerce platforms such as Amazon and Shopify incur significant expenses to maintain their systems. Sellers often pay fees of 10% to 30% per transaction. Logistics and fulfillment can account for 12% to 20% of revenue, making it difficult for smaller sellers to grow. Compatibility issues among systems can also lead to errors and delays, resulting in customer dissatisfaction.
Security Risks in Traditional Platforms
Data security in traditional e-commerce systems raises serious concerns. According to studies, 38.5% of 90 examined sites utilize more than 50 cookies per session, creating vulnerabilities. Annual losses from data breaches are estimated at $48 billion. Moreover, compliance with laws like the EU's Digital Services Act requires platforms to incur additional costs, which ultimately fall on users.
Web3Bay: A New Solution for E-Commerce
Web3Bay represents an alternative to traditional e-commerce platforms, based on blockchain technology. The platform enables sellers and buyers to interact directly, without middlemen and high fees. With no storage of user data, Web3Bay avoids data misuse issues. Additionally, user reputation tracking helps prevent fraud. The platform is governed through a decentralized autonomous organization (DAO), granting token holders voting rights on its development.
Traditional e-commerce faces serious challenges due to high costs and security issues. Web3Bay offers innovative solutions, data protection opportunities, and cost optimization, creating a more sustainable and secure environment for buyers and sellers.
