The genesis and evolution of E-Commerce

The concept of electronic commerce

There are several terms and definitions of electronic commerce that differ from each other as they are still in the process of growth and development. Electronic commerce can generally be defined as the process of exchanging goods as well as services through an electronic broker or electronic medium. This medium or medium is the international information network (Internet).

 The genesis and evolution of E-Commerce

Electronic commerce is one of the cornerstones of what is known as the Digital Economy. This type of economy is mainly based on information technology, which is largely thanks to the existence of electronic commerce as it depends on computers and communications, as well as various other technical means used in the management and implementation of business.

E-commerce is one of the most important events that has emerged in the international arena recently thanks to the technological revolution and the information, technology, and communications revolution. However, the work was already done electronically through private and closed networks.

 

E-Commerce Transaction Completion Stages

To complete the sale or purchase via the Internet or in other words the practice of electronic commerce, it is necessary to go through the following stages:

1. First, goods or services are advertised by creating a website or virtual store on social media and then displaying digital products.
2. Get visitors and customers at the site or store by promoting the site or store through funded or unfunded ads.
3. Negotiation and exchange of information between the person offering the service and the buyer via the Internet after which the purchase orders are submitted by the buyer.
4. To complete the sale and conclude the contract this contract is known as the electronic contract.
5. The resulting financial value is then paid by one of the various electronic payment methods.

 

The service or commodity is delivered through the electronic broker, which is known as "online". This is if the commodity can be digitized and transmitted via the Internet such as music, video films, various types of software, and other digital products, or if it is otherwise and cannot be digitized, it is delivered by traditional delivery (offline).

It should be noted that e-commerce includes not only the production of goods but also all forms of information and services exchanged by companies between between us and individuals or vice versa through the international information network, the Internet, or other means of communication.

 

The formation of e-commerce

The emergence of electronic commerce in the 1970s was due to the need of various companies and institutions to speed up and exchange information if they wanted competitiveness, and because of this many institutions, mainly banks, tended to use private networks to do Electronic Fund Transfer - IFT.

This has enabled customers to deposit directly as well as electronic payment of receivables by using modern methods such as credit cards. In the 1980s, a new method, inter-firm electronic commerce, spread through what was known as Electronic Data Interchange - EDI.

This new method allowed companies to send and receive documents, trade bonds, and supply orders between them with ease In 1992, WWW emerged as a major turning point in the field of electronic commerce, where all ordinary users became able to use the Internet and where it used graphics and multimedia that made the pages on it very attractive in viewing information.

After many stations and deliberations, a report from the World Trade Organization (WTO) was issued in March 1999, classifying electronic commerce globally as a service concept, followed by the convening of Canada's first World Conference on Electronic Commerce through OECD in 1998.

In addition, the role of the United Nations Organization through the UNCITRAL International Trade Law Commission (UNCITRAL), which developed the Model Law on Electronic Commerce in December 1996, was a major and major shift in the history of electronic commerce.

 

The most important features of electronic commerce

There is no doubt that e-commerce has many features and features that often outperform traditional commerce. The most important of these features are:

• It is global where electronic commerce through its use of technical means and technology exceeds geographical and temporal boundaries, unlike traditional trade.
• Electronic commerce is cross-cutting in nature, encompassing almost everything from perceived and tangible goods to intangible digital services and products.
• Encourage different business units to adapt quickly and efficiently to rapid technological development and keep pace with it.
• Complete absence of documents and paper transactions in electronic commerce.
• The possibility of dealing without identifying the persons involved.
• Electronic commerce brings distances closer and removes barriers where producers and consumers can be dealt with directly without the need for a traditional broker.

 

In conclusion, dear reader Flaschke said that the great development of the Internet, telecommunications, and technology services has affected various aspects of life and reshaped the concepts in our lives. Trade and business are some of these areas that have been directly and significantly affected and adapted to the information and technology revolution to take a flexible and broad digital form that facilitates everything and puts the world in your hands so that you can get what you want by clicking a button.

 

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