Abstract
In the rapidly evolving digital landscape, integrating Distributed Ledger Technology (DLT), commonly known as blockchain, into existing e-commerce and retail systems presents a transformative opportunity.
This article explores the novel approach of transferring units of a blockchain network into these traditional platforms to enhance transparency, security, and traceability. The first part of the article delves into the technical and operational challenges involved in this integration process. It discusses methodologies for embedding blockchain units seamlessly into the infrastructure of e-commerce sites and retail systems, thereby enabling features such as immutable transaction records, enhanced security protocols, and a decentralized framework for data integrity.
Building on this foundation, the second part of the article focuses on leveraging these integrated systems to create digital twins and copies of physical retail items en masse. It highlights the potential of digital twins in revolutionizing product authentication, lifecycle management, and customer engagement by providing a digital counterpart for every physical product. The process of generating these digital replicas on a blockchain framework is examined, emphasizing scalability, data fidelity, and the maintenance of privacy standards. Furthermore, the article addresses the implications of these digital twins for supply chain transparency, anti-counterfeiting efforts, and the creation of a circular economy.
Through case studies and theoretical models, the article presents a comprehensive overview of the benefits and hurdles associated with the integration of DLT into e-commerce and retail, as well as the subsequent creation of digital twins. It concludes with a discussion on the future outlook of retail and e-commerce industries in the wake of these technological advancements, suggesting a roadmap for businesses aiming to adopt blockchain technology and digital twins as part of their digital transformation strategies.
Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 License.
Recommended Citation
Draganov, Boyko, "Allowing Distributed Ledger Technology based units to be listed on existing eCommerce and Retail Platforms", Technical Disclosure Commons, (February 21, 2024)
https://www.tdcommons.org/dpubs_series/6701