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The Impact of Blockchain Technology on E-commerce Product Development: Case Studies of Walmart and LVMH
- 1 Qingdao Technological University, Linyi, China
* Author to whom correspondence should be addressed.
Abstract
In the current digital era, the emergence of blockchain technology has profoundly impacted business models, especially in e-commerce. Blockchain technology brings new opportunities and challenges to product sales, transactions, and management. This study examines the impact of blockchain technology on the development of e-commerce products, particularly through the cases of Walmart and Louis Vuitton (LVMH). It demonstrates the application of blockchain and its effects on product traceability, anti-counterfeiting verification, data transparency and privacy protection. It was found that blockchain technology improves data security and user trust, reduces transaction costs, and enhances supply chain management efficiency. However, blockchain also needs help regarding energy consumption, performance bottlenecks, privacy protection, inconsistent technical standards, and unclear laws and regulations. It is necessary to take appropriate measures to reduce risks and ensure the effective application of technology. This study concludes with a series of recommendations to promote the effective application of blockchain technology in e-commerce to facilitate the e-commerce industry's sustainable development.
Keywords
Blockchain Technology, E-Commerce Development, Product Traceability
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Cite this article
Yuan,M. (2024). The Impact of Blockchain Technology on E-commerce Product Development: Case Studies of Walmart and LVMH. Advances in Economics, Management and Political Sciences,109,137-142.
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Volume title: Proceedings of ICEMGD 2024 Workshop: Innovative Strategies in Microeconomic Business Management
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