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Cambodia’s Postal Service to launch an Online Shopping platform to tap current rise in e-commerce Activity

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Online Shopping (representational Image), Wikimedia

Phnom Penh, Jan 4, 2017: The state-owned Cambodia Post will launch an online shopping platform in March in a move to tap the current rise in e-commerce activity, a media report said on Thursday.

Ork Bora, director-general of the Cambodia Post, said that after a year of studying e-commerce, the enterprise decided to launch the platform to allow all business owners to sell their products with the postal service.

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Bora said that the enterprise had already served as an agent for China’s biggest online shopping company Alibaba and has delivered their products to customers in Cambodia for four months, Xinhua news agency reported.

“We plan to launch in the first quarter of the year, maybe in March. I have been conducting a study and working on online shopping for about a year, so now we decided to launch an online shopping platform,” Bora was quoted as saying.

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“You see that online shopping is getting popular among our people now. If you look at the number of internet users with the Telecom Regulator of Cambodia, there were some seven million,” he said.

He said that currently the Cambodia Post has a nationwide delivery and transport service, so an online shopping platform would be convenient for both sellers and customers. (IANS)

 

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Blockchain May Make E-Commerce Cheaper, Fairer

Besides Blockchain, their proposed solution involves "smart contracts" and game theory

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Blockchain, E-Commerce, Cheaper
A Blockchain-based system that allows buyers and sellers to interact directly can make e-commerce platform for digital goods "cheat proof" and the products cheaper. Pixabay

A Blockchain-based system that allows buyers and sellers to interact directly can make e-commerce platform for digital goods “cheat proof” and the products cheaper, says a study by India-origin researchers.

Blockchains allow multiple stakeholders to transact money or data virtually over linked peer-to-peer computer networks.

Besides Blockchain, their proposed solution involves “smart contracts” and game theory.

“Our scheme offers potentially a big improvement over the state-of-the-art in electronic commerce because it allows buyers and sellers to interact directly with each other without the need for third-party mediators of any kind,” said Bhaskar Krishnamachari, Professor at Viterbi School of Engineering, University of Southern California, the US.

Blockchain, E-Commerce, Cheaper
At present, the system works only with digital goods because physical products can’t have a cryptographic hash associated with them. Pixabay

“It uses a dual-deposit method, escrowing a safety deposit from both buyer and seller that is returned to them only when they behave honestly. And the verification of who is at fault and who is honest is done automatically by the smart contract,” added Krishnamachari.

This “smart contract” stores a good’s digital hash code or “digital fingerprint”.

Krishnamachari created an algorithm that runs on a programmable Blockchain as a “smart contract” with Aditya Asgaonkar, a recent undergraduate computer science alum at BITS Pilani

Here’s how the system might work:

An author wants to sell her digital book, but she hopes to avoid going through Amazon or some other company that takes a commission.

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Instead, she uses Asgaonkar’s and Krishnamachari’s blockchain-based solution and lists the book’s price at $20. An interested buyer contacts her.

To ensure an honest deal, both the buyer and seller agree to pony up a $10 deposit through a programmable Blockchain platform.

The author then sends the digital book to the buyer, who could only access it by making a verifiable payment for the correct amount.

If the transaction satisfies everybody, then both parties receive their deposits back.

Blockchain, E-Commerce, Cheaper
Blockchain-based system that allows buyers and sellers to interact directly can make e-commerce platform for digital goods “cheat proof”. Pixabay

But what if someone tries to cheat? What happens, for instance, if the seller intentionally sends the wrong e-book? What recourse does the aggrieved party have?

This is where the so-called smart contract kicks in.

The contract stores a good’s digital.

The buyer has access to that digital hash code before making a purchase. If they receive an item with a different hash code, however, they can dispute the transaction.

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In this instance, the seller would forfeit their deposit after the algorithm determined that they had attempted to cheat the buyer.

At present, the system works only with digital goods because physical products can’t have a cryptographic hash associated with them.

However, physical goods stored in a safe-box that can be opened with a digital password could be potentially transacted using their system.

Asgaonkar presented the researchers’ joint paper at the IEEE International Conference on Blockchain and Cryptocurrency in Seoul, South Korea. (IANS)