How E-commerce Giants Festive Season Sale is turning into a Nasty Scam?
With the onset of the festive season, most of us tend to go on a shopping spree. With online retailing becoming a convenient and alluring option, shopaholics are having a blast. Today, with increased penetration of internet along with the proliferation of smartphones and tablets, eCommerce sales have touched an all-time high. So much so that we as customers are becoming victims of intentional fraudulence with several fraudsters intending to make quick bucks in different ways. The very recent instance that has taken the e-commerce world by storm is the ‘Big billion day scam’ wherein fraudsters managed to sell counterfeit products by misappropriating the name of e-commerce giants.
While the E-commerce giants suffered reputational damage, customers were actually at the receiving end with fraudsters duping them of money, as well as trust. Such instances show how easily we succumb to the influence created by carefully crafted marketing campaigns by fraudsters. So, how do we curb, if not completely bring an end to such activities? While a lot has been spoken and debated, very little has been done to combat a problem as grave as counterfeiting.
This indeed is a case of inefficient supply chain management, which needs to be optimized for greater transparency and efficiency. So, while retail giants claim to have in place a secure system that offers highest standards of security, there still remains the need to have in place a robust system that can do away with the inefficiencies of the conventional centralized system.
Blockchain — A decentralized ledger technology can be leveraged to create a robust technology solution that can aptly deal with the pain points of the supply chain ecosystem. Such a system besides tracing the provenance of goods will help keep a track of goods and their journey at every point within the supply chain. Sofocle — A leading player in the Blockchain space offers ‘sofoChain’ that has been designed to address the loopholes of the supply chain landscape.
See more: https://medium.com/@prolitus/how-e-commerce-giants-festive-season-sale-are-turning-into-a-nasty-scam-b34d8aeb8cf0