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Blockchain is a next-gen payment and digital transaction technology that allows transactions to be performed without the need for middlemen. That means all kinds of digital transactions, from direct trades of goods and services to payments and more, can be performed securely using blockchain.
This is the best time to use blockchain in e-commerce because the technology has been leading the digital world for some time now, and many merchants globally are already using cryptocurrencies for their amazing benefits, including high security and transparency.
And not just payments, blockchain can help improve the overall e-commerce system in many ways, from increasing security to improving supply chain management, enabling quicker and low-cost payments, and overall better data management.
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Cryptocurrencies like Libra Coin can give more financial power and freedom to common people, making it easier for them to access basic financial services like digital payments, e-commerce, etc. from wherever they are in the world. This will eventually help people grow, both financially and morally, which, in turn, will empower democracy. As the growth of democracy is directly linked with the growth of its people, blockchain will help people and democracies grow simultaneously.
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By offering a way to perform secure and low-cost financial transactions digitally and from anywhere in the world, Cryptocurrencies have given a visible boost to economic activities worldwide. Many people in third world nations who were deprived of even the basic financial services can now use cryptocurrencies to make and receive payments to/from people globally. Merchants can use cryptocurrencies like the Libra Coin to accept payments from their global customers and pay to their dealers and suppliers worldwide. And the best part is that all of this happens without any regulatory requirements or centralised interference.
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