E-commerce is indisputably the future of the retail industry. It is fast eating the market share of traditional outlets across the globe, which has forced established players to expand their online presence to stay relevant in the ever growing competitive markets. Similarly, cryptocurrencies are the future of money and transactions.
Experts have estimated that about 50% of the global economy will be covered by cryptocurrencies as early as 2025-2027. This makes digital tokens extremely important, and hence, big corporations are investing big on the platform. Cryptocurrencies are now being accepted as valid instruments of payment by big companies around the world, which has made crypto adoption very much a success.
mohamed_hassan (CC0), Pixabay
However, the most awaited move in the crypto space has to be the integration of cryptocurrencies with e-commerce, which is expected to change both the ecosystems completely. Till date, this has not been achieved completely, though positive signs have emerged in bits and pieces.
The primary reason for the integration not materializing is the lack of payment platforms which allow traditional currencies to be paid via debit cards on online portals. Also, cybersecurity has been a big concern, as e-commerce platforms were not technologically advanced enough to accommodate crypto [...]