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Review

Blockchain-Based E-Commerce: A Review on Applications and Challenges

by
Hamed Taherdoost
1,2,* and
Mitra Madanchian
1,2
1
Department of Arts, Communications and Social Sciences, University Canada West, Vancouver, BC V6B 1V9, Canada
2
Research and Development Department, Hamta Business Corporation, Vancouver, BC V6E 1C9, Canada
*
Author to whom correspondence should be addressed.
Electronics 2023, 12(8), 1889; https://doi.org/10.3390/electronics12081889
Submission received: 30 March 2023 / Revised: 11 April 2023 / Accepted: 15 April 2023 / Published: 17 April 2023
(This article belongs to the Special Issue Advances in Cryptography and Blockchain for Securing Modern Smart Communications)
Browse Figures
Versions Notes

Abstract

:
E-commerce platforms enable companies of all sizes to sell their items and promote their brand to a broader audience. The e-commerce sector is continually developing, as new technology and methods of purchasing and selling services and items are developed. The traditional e-commerce system is plagued with problems, such as payment disputes, chargebacks, fraud, and a lack of transparency; however, blockchain can transform e-commerce by making transactions more efficient and safer. Blockchain can be used to build a decentralized network that allows people to securely store and share digital assets. This would enable buyers to access product details such as the product’s origin and source, as well as reduce the risk of fraud. Although the application of blockchain in e-commerce remains in its early stages, this review paper examines research on blockchain-based e-commerce, focusing on applicability and problems in the context of the available literature from 2017 through 2022.

1. Introduction

As the world evolves into a more digitalized form, so do people’s necessities and indulgences. Consumers increasingly prefer purchasing online to physically visiting stores [1,2]. With e-commerce, the majority of interactions between the customer and vendor occur online. Thus, they need to communicate through a secure method. The security of online interactions, especially online transactions, is not always guaranteed [1]. There have been more security breaches documented in which third parties obtained huge quantities of data [3,4]. Certain individuals are continually attempting to break security and exploit network vulnerabilities. Blockchain comes into play here. Blockchain is a peer-to-peer automated access-control manager and decentralized trustless network with a public ledger, in which members may connect without trusted middlemen or harmful actions [3,5]. The extensive use of encryption in blockchain provides the interactions between each network node a feeling of authority [5].
Blockchain is a relatively new technology that was proposed by Nakamoto as a decentralized currency component of bitcoin technology [6,7]. Various applications in public and social services, the Internet of Things (IoT), the banking sector, reputation systems, healthcare systems, finance, etc., have aroused interest in blockchain [8,9,10]. It is a type of distributed, decentralized database that is more secure than conventional databases [10]. As the world of e-commerce expands at a fast rate, the necessity for a safe and secure method of communication between customers and sellers increases daily. Although the advantages of a data-driven society can be appreciated, examining how data is kept, used, and disseminated is also essential. Users have little influence over how centralized organizations utilize and manipulate their personal information [3]; centralized companies store vast quantities of the personal information of users.
Blockchain improves the security, simplicity, and speed of e-commerce platform transactions. Under the protection of the blockchain, users can conduct safer transactions and store digital assets. A third party, such as credit cards and banks, is required to validate a standard online transaction [11]. At present, e-commerce, banking, energy, and other industries are advancing quickly, and new technologies are emerging daily. Occasionally, conventional e-commerce is susceptible to user data leakage. Therefore, leveraging blockchain to enhance the security of e-commerce platforms is a pressing issue [12]. A blockchain-distributed ledger ensures the integrity and veracity of transactions and eliminates the potential for tampering [13]. Blockchain-based applications offer numerous benefits, including optimizing corporate operations, reducing operational expenses, and enhancing synergy efficiency (Figure 1). These benefits have already been demonstrated in supply chain management and financial services [14].
Although recent studies have shown that blockchain could have a significant influence on e-commerce [15], it remains understudied [16]. E-commerce was briefly described as “purchasing, marketing, and selling through the Internet” by Targett (2001, p. 4) [17]. Turban et al. (2004, p. 3) [18] provide a more comprehensive explanation: E-commerce is the process of purchasing, selling, transferring, or exchanging goods, services, and/or data through computer networks, such as the Internet. As blockchain applications continue to develop, they may have far-reaching consequences for businesses and their consumers. This raises several unresolved problems in the realm of e-commerce. As stated in Table 1, in recent years, several papers have reviewed blockchain’s use in e-commerce.
A significant addition to these studies could be made by identifying the current gaps and limitations in the literature on the integration of blockchain into e-commerce. By highlighting these gaps in the literature, this study could provide a fuller understanding of the potential benefits and challenges of integrating blockchain technology into the e-commerce industry. This research could also be helpful by providing a critical evaluation of how well different blockchain technologies function in the e-commerce industry. An evaluation of the benefits and drawbacks of the various blockchain protocols could help e-commerce enterprises choose the optimal blockchain solution for their needs. This study could make it easier to set standards for blockchain integration in e-commerce, by highlighting the value of knowledge sharing and cooperation. This would promote more efficient and long-lasting use of blockchain technology in the e-commerce sector. Critical reviews are highly valued in the wider academic community, because of their wide range of connections to other works and academics in other disciplines of study [23]. Based on the available information, there is currently no critical review on blockchain and e-commerce that specifically focused on applications and challenges. Thus, this literature review examines research on blockchain-based e-commerce from 2017 to 2022, focusing on applicability and issues. The primary purpose of this paper is to respond to the following research questions (RQs):
RQ1: What blockchain applications exist for e-commerce?
RQ2: What challenges does blockchain present for e-commerce?

2. E-Commerce

E-commerce refers to online purchasing and selling. However, e-commerce is more than just a financial transaction between a client and a business. It also covers non-financial interactions between the firm and its consumers [24]. In current times, a transaction is considered to be electronic commerce if it frequently utilizes the World Wide Web at any stage in the transaction’s lifecycle [25,26]. Existing review studies categorized and systematically organized the current e-commerce literature. Ngai and Wat [27], in one of the earliest e-commerce review papers, divided the field into three distinct areas: implementation and support (e.g., corporate strategy and public policy), technological issues (e.g., support systems, network technology, and security), and applications (e.g., marketing, payment systems, and inter-organizational systems). Recent e-commerce review studies focused on themes such as reference architectures [28], recommendation systems [29], online consumer behavior research [30], e-commerce in particular geographical locations [31], and trust building for consumer interactions [32]. In addition to identifying the most important factors for the success of e-commerce, these frameworks are of interest to both practitioners and academics because they help to identify criteria that could promote widespread e-commerce adoption and provide guidelines for developing successful applications.
Several scholarly publications have thoroughly researched the origins of e-commerce. By demonstrating how information technology has transformed e-commerce via the production of business network-based value, Kauffman et al. [33] concluded that the sector has undergone a digital transition. Wu et al. [34] develop a model in which firm characteristics such as competitor and customer orientation, as well as the competitive environment measured by normative pressures and customer power, organizational learning capability, and top management emphasis, represented success factors and adoption antecedents in their analysis of the intensity of e-business adoption and its impact on business performance. Uncertainty in the market and technology has a moderating effect on performance results. The regulatory environment (i.e., e-government compliance procedures and e-government services), a firm’s size, and supply chain power, which also includes supplier power, are all included as new antecedents in Roberts and Toleman’s [35] extension of the model. Additional studies based on theoretical frameworks such as the use of technology (UTAUT) (facilitating conditions, social influence, effort expectancy, performance expectancy), technology acceptance model (TAM) (perceived ease of use, perceived usefulness), and unified theory of acceptance [36,37] distinguished between decision-maker characteristics, innovation characteristics, and environmental factors [38]. An in-depth study of the elements that contribute to successful and efficient e-commerce operations is possible because of the amount of scholarly research that has been produced over the last two decades.

2.1. Types of E-Commerce

The context of e-commerce, including its history and development, is closely related to the current categories of e-commerce transactions. Over the years, the evolution of e-commerce has resulted in the emergence of new forms of transactions and business models. There are various forms of e-commerce:
  • Business-to-consumer (B2C)—This is the most prevalent form of e-commerce, in which businesses sell directly to consumers via online marketplaces, websites, or mobile applications.
  • Business-to-business (B2B)—This involves the sale of goods or services by businesses to other businesses. This may include wholesale purchases or relationships with vendors.
  • Consumer-to-consumer (C2C)—This occurs when consumers sell products or services to other consumers via online marketplaces, classified advertisements, or auction sites.
  • Consumer-to-business (C2B)—This involves the sale of products or services by consumers to businesses. This includes independent contractors, consultants, and small businesses selling specialized goods or services.
  • Business-to-administration (B2A)—This involves the sale of goods and services by businesses to government agencies and other public sector organizations. This can include items such as online tax filing and procurement systems.
  • Consumer-to-administration (C2A)—In this form of e-commerce, consumers can interact with government agencies or other public sector organizations via online portals, such as paying taxes or gaining access to government services.
The evolution of e-commerce transactions has been driven by technological advancements and alterations in consumer behavior. In the future, the emergence of new forms of e-commerce transaction can be anticipated as technology continues to advance.

2.2. Industry 4.0 and E-Commerce

Industry 4.0 manufacturing has recently seen a rise in intelligent customization and mass personalization production. Using digital technology and e-commerce, mass personalization takes into account each unique client and gives them the option to personalize the product [39]. Industry 4.0, which is characterized by the merging of the physical and digital worlds, has been gradually expanding beyond the industrial sector to other sectors, particularly the e-commerce sector. E-commerce players have begun to transform their business strategies using Industry 4.0 technology [40]. The customization process connected to Industry 4.0 technology presents a huge possibility for ongoing growth for the e-commerce sector. E-commerce has accelerated company and consumer digitization and produced productive digital workflows.
The rise of Industry 4.0, the current trend in industrial technology toward automation and data interchange, has accelerated the integration of blockchain and e-commerce. By using technologies such as IoT, cloud computing, and artificial intelligence (AI), Industry 4.0 seeks to develop smart factories that are more productive, adaptable, and sustainable. By offering a safe and open platform for online transactions, blockchain has the potential to transform e-commerce. By producing an unchangeable record of transactions, the technology may help overcome problems such as fraud, cyberattacks, and data breaches, improving customer adoption and involvement and boosting trust and confidence in online transactions.
In the context of Industry 4.0, blockchain technology may enable safe and automated data and information flow between machines and systems. This can result in more productive and efficient manufacturing processes, and allow transparent and traceable supply chain management. For example, blockchain technology can be used to produce a safe and transparent record of a product’s place of origin, the standard of the product, and its safety, increasing customer safety and confidence in the manufacturing sector. Industry 4.0’s use of blockchain technology and e-commerce has the potential to fundamentally alter how we trade and handle data, resulting in more effective, secure, and environmentally friendly business processes.

3. Blockchain and E-Commerce

It took many decades for the Internet to evolve from a network that was primarily used for communication within and between educational and military institutions to a technology platform that could host and implement commercial applications [41]. However, following the launch of the World Wide Web [42], it only took a few years before the number of commercial websites skyrocketed [43], and e-commerce became a global business model [44]. Early research suggests that this trend has been further amplified by the global COVID-19 outbreak [45].
From the perspective of contemporary businesses, the internet has demonstrated its ability to enhance marketing strategies and approaches in a variety of contexts, including the conducting of marketing research, the provision of customer service and experiences, the distribution of products, and the resolution of issues [46]. Due to the intrinsic value of internet marketing, modern organizations can operate more effectively and efficiently, develop new products and services, and increase market transparency [47]. E-commerce has expanded very quickly and has become a significant sector during the last ten years [48]. Online shopping is now one of the most popular activities among customers, which has been influenced by several recent technical developments. Blockchain technology is one of these [49]. A blockchain is a type of decentralized, peer-to-peer database that is dispersed across all of the nodes in the trustless blockchain network. As the name indicates, a blockchain is a series of blocks. To preserve the integrity of the whole blockchain, certain properties are included in each block. The blockchain employs strong cryptography to maintain this integrity [5].
Blockchain has been a crucial development in how the internet and the digital world have changed trade. In general terms, based on Risius and Spohrer (2017, p.3) [50], it is possible to describe this technology as “a fully distributed system for cryptographically storing and capturing a consistent, unchanging linear event log of transactions between network actors”. It is evident from the definition given above that blockchain, which is supported by the widespread adoption of new cloud-connected digital devices as well as cloud-based storage capabilities and data analytics, is resistant to disruption by technological advances in the age of digitalization [51]. Present blockchain use cases in the digitalization of financial assets provide further support for this claim [52]. Through the use of distributed cryptocurrencies, the technology is progressively being shown to be a trustworthy method for contract ownership and administration, as well as for creating practically unimpeachable, yet distributable, audit trails [53]. Blockchain’s programmable and very flexible features, especially regarding payment and transaction systems, enable a wide range of unique financial instruments [54].
E-commerce refers to the purchasing and selling of goods and services through the Internet [22]. It involves using electronic communications and information processing technology in commercial transactions [55]. E-commerce transactions are conducted through mobile devices, the World Wide Web, and the Internet [56]. Web-based e-commerce technologies enable transactions at any time and in any location, providing those with internet access unlimited opportunities to connect with others [57]. This feature also provides customers with increased options and quick comparisons, as well as the ability to interact, share, and compare customer experiences online [58].
Since all operations are encrypted, and as all transactions between monitored persons are recorded, blockchain can perform highly secure services without the involvement of middlemen and without the buyer providing their financial information. It is reliable [59]. It enables individuals to handle a shared database without requiring a trusted central controller, allowing participants to log in or log out at any moment. Using cryptographic hashes, algorithms identify the chronology of time-stamped inputs by encrypting discrete transaction sets (“blocks”) into each other. A hash reference connects each block to its predecessor, creating order and integrity in the blockchain [22]. Blockchain is a collection of technologies that influence e-commerce via technological, legal, organizational, quality, and customer challenges. It can use different consensus protocols to validate [60] and offers unprecedented technological opportunities. However, it also necessitates a critical evaluation of current business processes, such as those involving sensitive customer data or the architecture of communication channels throughout the supply chain. Blockchains may be divided into public and private chains, as well as licensed and unauthorized chains. This mix of characteristics results in three distinct forms of blockchain: where only authorized nodes may view, transmit, or receive transactions in privately licensed blockchains; in chains that are not licensed, all nodes can read, send, and write transactions; and all nodes may read transactions in chains that are publicly licensed, but only authorized nodes can read and write transactions [22].

4. Research Methods

To develop a study of the various evaluation works, Scopus and Google Scholar were searched using the following keywords: (1) “Blockchain” AND “E-commerce” OR (2) “Blockchain” AND “Electronic commerce” OR (3) “Block-chain” AND “E-commerce” OR (4) “Block-chain” AND “Electronic commerce”. By March of 2023, the search had yielded around 109 results. Formally, the selection of research for this publication was guided by the use of a set of inclusion and exclusion criteria (Table 2).
This procedure resulted in the selection of the 23 primary studies provided in this publication, as the principal outcome of the critical review conducted (Figure 2).
There are a number of limitations to the current critical review:
Limited databases such as Scopus and Google Scholar were utilized. A comprehensive literature review can be time-consuming, particularly if it necessitates the analysis of a large number of articles. This can restrict the review’s scope and lead to the exclusion of pertinent studies. This analysis might not be representative of all relevant populations or available evidence, which may limit the generalizability of the study’s findings.

5. Analysis and Discussion

RQ1: What blockchain applications exist for e-commerce?
Blockchain has several uses in e-commerce and assists businesses in overcoming obstacles [61]. It facilitates e-commerce, since data storage is highly safe [59]. A study of two payment systems, one using blockchain and the other without, revealed that in the absence of blockchain, the payment method was slower, costs were higher, and the negative consequences of the dispute resolution process were more pronounced [59]. In recent years, there has been a rise in blockchain and e-commerce research, with an increase in the number of publications examining the potential of blockchain in the e-commerce industry. The trend in articles over the past five years is depicted in Figure 3. This increase in research on blockchain and e-commerce can be attributed to several factors, such as the growing interest in blockchain technology and its potential applications, the increasing importance of e-commerce as an economic sector, and the need to address the difficulties and possibilities posed by the integration of blockchain into e-commerce. In addition, the emergence of new blockchain-based platforms and applications in the e-commerce industry has sparked considerable interest and research in this field.
In this context, supply chain transparency, reputation management, and financial transactions are just a few of the problems that blockchain technology may help e-commerce companies address. Businesses can trace their supply chain from start to finish, verifying the legitimacy of their goods and encouraging sustainability using blockchain-based systems. Moreover, reputational systems that use blockchain technology may increase the accountability and transparency of e-commerce transactions, fostering trust and reducing fraud. Furthermore, blockchain has the potential to revolutionize various other industries. For instance, blockchain may be used in agriculture to monitor crops’ provenance and quality, enhancing food safety and traceability. In the financial industry, blockchain-based solutions may provide safe, quick, and transparent transactions, encouraging financial inclusion and lowering transaction costs.
Overall, the application of blockchain technology in various e-commerce platforms and other industries can promote secure and transparent interactions between consumers and businesses, while also encouraging environmentally and socially responsible practices.

5.1. Environment and Sustainability

Circular economy (CE) adoption may help to address these urgent concerns of the twenty-first century, since the textile sector consistently produces a large amount waste and pollution that severely depletes water supplies in developing nations. Consumers that care about the environment are increasingly buying used clothing, which forces the fashion industry to reposition its brands in terms of sustainability. However, there is a chance that clothing purchased is not legitimate or counterfeit. If blockchain is properly used in the garment business, it could be a useful tool for monitoring and tracing products to their source. The research by Jain et al. [62] identified and examined the factors that contribute to the adoption of blockchain-enabled e-commerce platforms (BEEP) in the sale of used clothing. Using the theoretical frameworks of consumer purchase motivation and the UTAUT model, they performed a study of Indian female customers. The findings demonstrate that BEEP acceptability for purchasing used clothing is explained by buying motivations (namely economic, hedonic, and critical motives) and UTAUT components (specifically performance expectation, enabling circumstances, and attitudes). Contamination risk influences the link between fashion reasons and intention, as well as increasing BEEP adoption intention. Blockchain technology encourages behavioral intentions for online thrift store purchasing, which lowers waste and supports CE. Creating a paradigm for a virtual closed-loop supply chain (VCLSC) based on cutting-edge blockchain and IoT technologies, as well as the ideas of sustainability and CE, was the aim of the research by Prajapati et al. [63]. Traditional and virtual supply chains were combined into a unified framework in their research. The major goal was to reduce the cost of the VCLSC network, while increasing the overall projected income. The global solver in the LINGO 19 software package was utilized for solution purposes. The outcomes of the sensitivity analysis and the findings of the research were utilized to draw certain conclusions that corporate organizations and government officials can use to formulate policies that will benefit the environment, end users, and the growth of the company.
To guarantee the sustainability of technology and e-commerce, a distributed and transparent ledger system was examined by Kumar et al. [64] for a range of e-commerce items, including food, electronics, security appliances, and pharmaceuticals. This system, called “PRODCHAIN”, combines a general blockchain foundation with lattice-based cryptographic operations, to make tracking e-commerce items less complicated. In addition, they developed a consensus method based on ratings, which they term proof of achievement. The outcomes are addressed in terms of throughput and latency, demonstrating the effectiveness of PRODCHAIN for e-commerce goods and services. The proposed method helps increase product traceability, while maintaining both social and economic sustainability.

5.2. Reputation Systems

To store credit score ratings, the decentralized e-commerce systems now in use rely more on their reputation system than on fair risk assessments. System development is not possible in a system with malicious nodes and no sanctions. The study by Xiao et al. [65] suggested a blockchain-based decentralized e-commerce transaction system as a solution to this issue. To improve the service, the system commodity data are kept in an interplanetary file system and the returned commodity addresses are saved in the blockchain. In addition to a reputation evaluation model based on multi-criteria decision-making that can successfully fend off unfair evaluation and collusion attacks, this paper also suggested an incentive mechanism based on reputation value, to punish and reward nodes, thereby increasing the smooth operation of the system. The experimental findings indicated that the system properly represents a user’s reputation value, has a low communication cost, and has high availability and dependability. The research by Jiang and Chen [66] examined the impact of blockchain on all associated entities, with an emphasis on how e-commerce platforms powered by blockchain can solve the issue of product counterfeiting. They limited their analyses to scenarios in which consumers and retailers are unable to distinguish between real and fake goods. Since they may be reluctant or unable to pay for the costlier real product, many merchants and consumers instead choose to purchase and use counterfeit goods, which hurts the legitimate manufacturer’s profit and reputation. They demonstrated that the retailer and manufacturer are charged an operation fee by the blockchain-based e-commerce platform, which raises the cost of doing business for both businesses. As a result of higher operational expenses, there is a dispute between businesses and the platform. Models could be developed in future research to examine the connection between operational costs and platform revenue.
To generate a distributed consensus and transaction incentives, Sun et al. [67] created a reputation system called RTChain, to be included in the e-commerce blockchain. The consensus behavior of nodes and the transaction behavior of users are influenced by an incentive mechanism, which in turn affects the reputation scores of both nodes and users. The reputation of the user affects how likely it is that they will be chosen as a transaction partner, just like in real-world electronic transactions. Since it is challenging to execute the transaction, a person with a bad reputation will progressively be removed from the system. Unlike proof of work, which consumes a lot of computational power, RTChain ensures fairness for all players and employs a verified random function to choose the leader in each round. Next, to minimize the number of nodes participating in the consensus and increase consensus efficiency, so that the RTChain’s throughput can exceed 4000TPS, their consensus method chooses the nodes with high reputation scores. To achieve distributed storage and administration of reputation, they constructed a reputation chain. Last but not least, their consensus process permits participating nodes to fail, as long as the failed node’s reputation does not exceed one-third of the overall reputation. These assaults include eclipse attacks, selfish mining attacks, flash attacks, and double spending attacks. The system of Li et al. [68], called RepChain, enables cross-platform reputation access and private and anonymous ratings for e-commerce platforms, while utilizing blockchain to protect user privacy. All e-commerce sites that utilize RepChain work together and share user reputations, by jointly building a consortium blockchain and simulating the rating system as a finite-state machine. They specifically enable zero-knowledge range proof, to verify the accuracy of ratings and defend against multiple rating attacks, as well as one-show anonymous credentials built from two-move blind signatures to protect users’ identities, design a secure sum computation procedure among nodes to update reputations, and verify ratings using consensus hashes and batch processing.

5.3. Logistics and Supply Chain

In addition, each platform component has to be conceived, constructed, and implemented in an implementation plan to specifically address the requirements of a typical logistics finance scenario. (2) Research could be done to determine the many parameters that will be used to establish valuation and risk guidelines for a complete creditworthiness rating model. (3) To assess the investment needed to set up and maintain the Log-Flock, a cost analysis can be performed [69]. To facilitate the use of digital assets of the LC for logistics financing, the research by Rachana Harish et al. [69] offered a logistics financing platform (Log-Flock) that makes use of blockchain, a cyber-physical system (CPS), and IoT. The fundamental elements of blockchain technology, such as tokens and smart contracts, are used to implement incentivized rewarding mechanisms to motivate user engagement and perform the valuation and risk assessment of digital assets in logistics financing. The CPS and IoT are combined to assist the generation of digital assets. If used, this innovative platform can drastically shorten the funding process. It represents the LCs’ operational capacity in the form of a credit rating, which is clear to lending institutions.
A standard e-commerce supply chain and blockchain and online consumer review (BOCR) technology e-commerce supply chain were built by Wan et al. [70] using Stackelberg game theory from the standpoint of value co-creation, and optimum choices and profits were addressed using centralized and decentralized decision-making. When a producer favors consumer value, the optimal sales price and service level decrease under decentralized decision-making, and the producer’s optimal profits rise, while the optimal profit of the e-commerce platform will initially increase, then decrease; the overall optimal profit and optimal service level increase, and the optimal sales price decreases, under centralized decision-making. With increasing misrepresentation in positive product evaluations, optimum choices and profits in the conventional e-commerce supply chains initially rise, then fall. With the BOCR technology e-commerce supply chain, the members can optimize costs and improve revenues by extracting more useful information. Jiang and Chen [66] used Stackelberg equilibrium theory-based enterprise profit-driven analytical techniques and highlighted the benefits of blockchain-supported e-commerce systems in combating the issue of product counterfeiting. They analyzed the profitability of all actors in two distinct supply chains, conventional and blockchain-supported, to assess the true value of a blockchain. The results indicated that customers, retailers, and manufacturers do not always benefit from the use of blockchain. However, when a legal company’s production costs are sufficiently high, the manufacturer uses blockchain to increase revenues. A retailer is more likely to utilize a blockchain-supported e-commerce system for a price-sensitive market if their qualification there is lower than in a conventional supply chain and their manufacturing costs there are greater than in a traditional supply chain.
To centrally distribute heterogeneous logistical resources with many clients, the article by Li et al. [71] presented a blockchain-enabled workflow operating system (Bc-WfOS). For the Bc-WfOS to be powerful, three essential breakthrough technologies are needed. The first is gateway technology, which was developed to enable UPnP (universal plug and play) control of diverse logistical resources. Second, a multi-dimensional workflow model is suggested, with corresponding workflow operation mechanisms to accommodate various business logics, to efficiently and effectively coordinate logistical resources. A resource blockchain was also created by combining blockchain with agent technology to ensure data dependability and provide precise front-line resource execution data to allow various clients to make higher-level decisions. Liu and Guo [72] identified obstacles to a fresh food e-commerce supply chain’s performance improvements and established the need to raise standards of safety and quality, benefit distribution, resource integration, and logistical traceability. Aspects of blockchain such as intelligent contracts, information exchange, traceability, and performance improvement requirement are also considered in this article. Fresh food e-commerce supply chain profits were examined and compared before and after the implementation of the blockchain data system, using the Stackelberg game model, between the e-commerce platform and the supplier. The research’s findings indicated that if the cost of investing in a blockchain data system is kept within a certain range, it can not only increase the reliability of fresh products but also curb dishonest behavior and boost the overall performance of the major players in the supply chain for fresh food e-commerce.
The influence of e-commerce platforms was experimentally examined and an econometric model was built in the paper by Ma et al. [73], together with the information flow, logistics, and capital flow that make up the complex structure of the e-commerce chain linking suppliers, producers, distributors, and consumers in the sector. As the primary driver of an organization’s market share, supply chain management can be modified on a large scale using blockchain. The findings of the study demonstrated that the input costs of marketing, research and development, and staff training, as well as the negative and positive effects of long-term investment and taxes on market forces, varied significantly across industries. State-owned assets, inventories, and subsidies all have a detrimental effect on the market power of businesses across all sectors. Finally, a summary of businesses using e-commerce platform competitive strategies was provided.

5.4. Agriculture

Lifestyles and production techniques have changed as a result of the advancement of Internet technology, particularly the use of mobile Internet technology in daily life, which has had enormous economic benefits for society. The paper by Li and Huang [74] analyzed the growth and changes in Internet technology in the agricultural industry chain, from the supplier to operation, manufacturing, service, security, and sales, and researched the production experience framework iterative upgrade to enhance the development of agricultural e-commerce and widen the integration of e-commerce. A blockchain-based system for tracking agricultural products was also suggested. Their system has effective oversight. Data cannot be modified after it has been added to the blockchain ledger, which is beneficial for agricultural e-commerce and for traceability. Real examples demonstrated how an integrated approach to agricultural e-commerce based on blockchain can increase the security and traceability of agricultural e-commerce, while also offering the e-commerce sector tremendous expansion possibilities. The research by Chao [75] used the coalition chain design concept and suggested a multichain agricultural product trading data blockchain application that combined chains for user information, chains for agricultural product information, and chains for agricultural product trading information. The chain of information about agricultural goods protected the traceability and integrity of the information, while providing complete information about agricultural items. It created a transparent, effective, and adaptable blockchain framework for agricultural commodity transactions, by automatically dividing the profits of transactions using smart contracts, to increase execution efficiency and decrease transaction costs.

5.5. Financial Uses

To do away with transaction intermediaries such as payment gateways (PG) and public key certificates, the paper by Kim and Kim [76] suggested a straightforward payment model that makes use of fundamental cryptocurrency features such as digital signatures, private keys, and public keys. By removing the costs of intermediate services such as PG and guaranteeing the nonrepudiation and integrity of electronic payments, the implementation of a digital signature lowers the total cost of running e-commerce services. Their concept is significant because it increases the competitiveness of utilizing e-commerce, while also supporting the development of e-commerce payment technology. Jiang and Chen [77] established a conceptual model enabled by blockchain for an e-commerce system for small and medium-sized enterprises (SMEs). They developed a complete business architecture based on this conceptual model. Last, they suggested three major applications—transaction tracking, transaction matching, and enterprise finance—to show how the platform helps SMEs overcome their financing and trade difficulties. This report offered important recommendations for these businesses’ operation and the administration of blockchain-supported e-commerce platforms.
For IoT-based e-commerce, Liu et al. [78] suggested NormaChain, a blockchain-based normalized autonomous transaction settlement solution. This can greatly improve transaction efficiency and system scalability by creating a unique three-layer sharding blockchain network. Moreover, they can identify illicit and criminal transactions and accomplish crime traceability by developing a cutting-edge decentralized public key searchable encryption system (decentralized public key encryption with keyword search method). By demonstrating that NormaChain is safe against selected ciphertext attacks and against the theft of the secret key, they demonstrated how NormaChain guards against banks, administrators, or malevolent adversaries violating the privacy of a genuine user. Last, they provided the complete concept and implementation of the NormaChain system. According to experiments, there are around 113 transactions per second on IoT devices, and when appropriate target unlawful phrases were specified, the supervision accuracy was 100%. The blockchain-based tokenomics methodology reported in the study by Zhao et al. [79] involves an e-commerce system and application. The decentralized approach avoids monopolistic tendencies, eliminates the maintenance and transaction expenses of third parties, and allows consumers and sellers to deal with one another, to increase productivity.

5.6. Challenges and Future Direction

RQ2: What challenges does blockchain present for e-commerce?
Future supply chain transaction systems will be built using the alliance chain between the subordinating chain and main chain, taking into account the a single blockchain’s poor storage efficiency and tiny storage capacity. The traceability of the commodity is improved and the transaction data between suppliers and sellers of commodity raw materials may be stored on the subordinate chain [65]. As the contracts on the chain are either impossible to modify or extremely difficult to modify, and as contract loopholes are a serious issue, information security should focus on the direction of smart contracts [79]. Various other concerns need to be researched in greater detail. For instance, including the customer trust and acceptance of online channels into the assessment variables to create a more thorough analysis [70]. There is a chance that the public-distributed transaction ledger system of the blockchain system could result in revealing personal identity information, which would then allow hostile users to combine such information to identify system users. If the system needs to handle multiple payment transactions, it also needs a multithreading system architectural design [76]. Several challenges remain unaddressed, even though blockchain and e-commerce platforms may help SMEs with their finance and trade concerns. For instance, it is challenging to ensure the validity of data before their recording on the blockchain, indicating that all nodes are exposed to the risk of source data fraud. Thus, future study needs to consider how to audit the original data. Moreover, the use of blockchain in business helps SMEs address their challenges, but it also increases costs for businesses. Future studies, thus, need to concentrate on creating models for assessing the actual consequences of blockchain [77].
Three areas will be expanded upon in future works. One of the most crucial is that more workflow operation optimization rules and methodologies need to be added to the mechanism library for actual optimization problems in e-commerce logistics real estate services, as a supplement to the dispatching rules already in place. These rules could also be used as a type of shared knowledge among customers, for related challenging scenarios. The possibility of enhancing blockchain services is another area that could be researched further. Each participating node in the blockchain has a full ledger of all resource transaction data, which could allow information to leaked between customers. As a result, a hybrid blockchain that combines the benefits of both private and public blockchains could be created, providing the best authority mechanism for the participating nodes to audit data access. The third aspect of scheme commercialization will be the focus of many system improvement projects. Currently, many required supported system features are not found in a mature commercial product, such as a remote deployment tools for blockchain services, security tools, a robust user management module, and others, such as a prototype system to test the suggested innovations. Therefore, a lot of development work is required before the system can be commercialized [71]. The article by Sun et al. [67] provided examples of how to use a reward system to promote acceptable user behavior. However, this is only the beginning of reward system research; there are still many directions that need to be explored, such as the number of awards and the method of payment, how awards change as the system operates, and a detailed explanation of smart contracts.
The use of simulated data sets for the validation of the suggested model, which provided only theoretical analysis and consequences, was the main shortcoming of the research by Prajapati et al. [63]. Moreover, the suggested model could be tested using real-world data sets. Moreover, this only included the costs associated with cutting-edge blockchain and IoT technology. The devices that would be employed for this study’s research are those used for calculating the total cost of operating devices; buying and recovering radio frequency identification tags; and recording, processing, and transferring data to other devices or the main cloud. Moreover, an expanded version of this could be used to incorporate solution-based notions of IoT-based and blockchain technologies. The current suggested model could be improved in the future by including more constraints, eliminating certain restrictions, and including additional cost-related variables in the goal function. This model could be further evaluated by utilizing machine learning, artificial intelligence, and certain metaheuristics approaches with the goal of a comparative solution. The proposed model by Jain et al. [62] investigated the connection between various behavioral intentions and motivations. In the future, perhaps another model could be tested using different motivations, to comprehend real behavior and determine whether these motivations are associated with the level of trust that consumers have in retailers of second-hand clothing. Investigating how governmental rules and regulations about the application of blockchain in the retail industry may affect the creation of such online platforms is also important. Other cutting-edge technologies, such as AI in the form of predictive chatbots and robotic process automation, could reduce the consumer’s search effort for the desired clothing designs or types. The benefits and drawbacks of various other proposed blockchain technologies for e-commerce are listed in Table 3.

6. Conclusions

E-commerce platforms enable companies of all sizes to sell their items and promote their brand to a wider audience. The e-commerce sector is continually developing, as new technologies and methods of purchasing and selling items and services are developed. Blockchain can transform the e-commerce business by making transactions safer and more efficient. Blockchain may be used to build a decentralized network that allows people to securely store and share digital assets. This would enable buyers to access product details such as the product’s origin and source, as well as lessen the risk of fraud. According to the available data, there appears to be no critical evaluations of blockchain and e-commerce that concentrated specifically on applications and challenges. Owing to the significance of blockchain applications in e-commerce and the obstacles that may be encountered, there seems to be a dearth of critical reviews of the present status of this issue and how it might continue to develop in the future. Thus, this literature review examined research on blockchain-based e-commerce from 2017 to 2022, focusing on applicability and issues.
When it comes to e-commerce, blockchain technology serves several purposes and helps firms succeed despite challenges. Applications built using blockchain have several advantages, such as the potential to improve synergy efficiency, streamline business processes, and lower operating costs. Supply chain management and the banking sector are two areas where these advantages have become more apparent. Blockchain’s industrial applications in e-commerce span several fields, including environmental and sustainability, reputation management, logistics, agriculture, and finance. However, certain other issues call for more investigation. Thus, future studies need to focus on developing models for evaluating blockchain’s real effects.

Author Contributions

Conceptualization, H.T.; methodology, H.T.; validation, H.T.; formal analysis, H.T. and M.M.; resources, H.T. and M.M.; data curation, H.T.; writing—original draft preparation, M.M. and H.T.; writing—review and editing, M.M.; visualization, H.T. and M.M.; supervision, H.T. All authors have read and agreed to the published version of the manuscript.

Funding

This research received no external funding.

Data Availability Statement

Data sharing not applicable.

Conflicts of Interest

The authors declare no conflict of interest.

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Electronics 12 01889 g001 550
Figure 1. The benefits of blockchain-based applications for e-commerce.
Figure 1. The benefits of blockchain-based applications for e-commerce.
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Figure 2. Process of selection.
Figure 2. Process of selection.
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Figure 3. Publication year of the included articles.
Figure 3. Publication year of the included articles.
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Table
Table 1. A list of publications that reviewed the usage of blockchain in e-commerce.
Table 1. A list of publications that reviewed the usage of blockchain in e-commerce.
ReferenceYearDescription
Zhou and Liu [19]2022A bibliometric data-driven systematic literature study of the state of blockchain-enabled cross-border e-commerce supply chain management.
Kaur and Kaur [20]2021A SCOT study on the effect of blockchain on e-commerce
Rosário [21]2021A literature study on using blockchain and e-commerce to address issues and enhance business outcomes
Treiblmaier and Sillaber [22]2021The influence of blockchain technology on e-commerce: A study framework
Table
Table 2. Criteria for inclusion and exclusion.
Table 2. Criteria for inclusion and exclusion.
Criteria for InclusionCriteria for Exclusion
Language: studies written in English language only.
Source Type: Journal.
Considering economical insight.		Articles in the press cannot be accessed.
Duplicated articles.
The article does not propose or design a model or framework.
Cross-border e-commerce.
Table
Table 3. An overview of other studies on using blockchain technology in e-commerce.
Table 3. An overview of other studies on using blockchain technology in e-commerce.
ModelApplicationsChallengesReference
Vennia algorithm to conduct in-depth research and analysis on the traceability of dual-chain blockchain agricultural products’ E-commerce informationData analysis shows that the upgraded Virginia cipher secures plaintexts more cheaply.It requires secure key delivery to the transacting party, and may be used with asymmetric encryption. This algorithm encrypts the plaintext using an asymmetric encryption algorithm to encrypt the short key, reducing the decryption and encryption costs, as well as computing and storage waste.[80]
Mobile edge computing-offloaded scenarioIn this case, mobile edge computing may offload mining tasks to edge servers.To simplify and improve their model algorithm using Branch-and-Bound.[81]
New evolutionary algorithm solutions are presented for the multi-constrained optimization offloading issue.Could be tested in an e-commerce scenario and adjust the algorithm.
Experimental results corroborated the framework, algorithmic efficiency, and a lower use of computational resources.Customer mobility may help them enhance their model.
Blockchain-based e-commerce information ecology modelBlockchain transaction accounting and distributed ledger, linked with digital currency, address settlement costs and reconciliation between financial institutions.All typical consensus records need more than half the calculation. This is time-consuming and slows the blockchain.[82]
The storage of all nodes ensures data validity, but it also requires a lot of data storage and quick computation expansion. the various parties participating in the transaction ensure security but increase blockchain congestion.
Different blockchain protocols prevent collaboration. These concerns affect blockchain adoption and need academic research to find solutions.
Four-mode differential game modelSeveral variables impacted suppliers’ profitability.The research lacks wholesale price as a supplier choice variable.[83]
In a broad market, resale is the best choice for an e-commerce platform, while in a small market, agency sales are better.Future research may decide which scenario maximizes consumer surplus and societal welfare.
A blockchain-enabled logistics finance execution systemA hybrid finite state machine-based smart contract collaborates with agents in logistics finance activities.More blockchain agents for specific logistics finance or supply chain finance situations are needed.[84]
Blockchain-enabled multi-agent systems provide a trustworthy runtime environment to execute smart contracts faster and autonomously.Blockchain-based solutions concerning smart contract security.
With blockchain’s tamper-proof data, SMEs can establish unique risk prevention tools to effectively identify and manage risks throughout LF implementation.
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Taherdoost, H.; Madanchian, M. Blockchain-Based E-Commerce: A Review on Applications and Challenges. Electronics 2023, 12, 1889. https://doi.org/10.3390/electronics12081889

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Taherdoost H, Madanchian M. Blockchain-Based E-Commerce: A Review on Applications and Challenges. Electronics. 2023; 12(8):1889. https://doi.org/10.3390/electronics12081889

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Taherdoost, Hamed, and Mitra Madanchian. 2023. "Blockchain-Based E-Commerce: A Review on Applications and Challenges" Electronics 12, no. 8: 1889. https://doi.org/10.3390/electronics12081889

APA Style

Taherdoost, H., & Madanchian, M. (2023). Blockchain-Based E-Commerce: A Review on Applications and Challenges. Electronics, 12(8), 1889. https://doi.org/10.3390/electronics12081889

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