WTE/U2 Topic 6 Peer to Peer Business Model
Peer to peer business model
The peer to peer business model has been around for some time. The largest peer to peer business model known in e-commerce is eBay. EBay is an e-commerce marketplace were both businesses and individuals can sell goods to each other. Peer to Peer business models depend mostly on attracting both the customers and the vendors or sellers. Peer to Peer business model in e-commerce is not a new thing. The person to person model is even in the modern transaction methods of e-commerce. E-commerce depends a lot of transactions that are completed from person to person rather than business to business.
Peer to peer marketplaces
The main purpose of p2p marketplaces is to connect people with individuals who have the goods they want to sell. Selling products directly on your website sometimes is difficult. This is where peer to peer marketplaces make a huge difference. Peer to Peer marketplaces play a huge role in connecting individual sellers to the market. Imagine a traditional marketplace in India. Sellers bring their products onto the market and buyers know where the market is so they go to the market to buy the products they want.
Peer to peer payment system
In e-commerce peer to peer payment system have become very important allowing individuals to sell products directly to customers and to receive payment directly. The most notorious e-commerce peer to peer payment system is Bitcoins. There is no doubt that bitcoin has taken the e-commerce sector by storm. There are now a lot of P2P payment systems operating in the e-commerce sector. E-commerce stores especially on the dark web use bitcoin as their principal payment method. This helps them from being tracked by the authorities.