Developing an Blockchain-Based System for E-Commerce Inventory Management

The era of directly saving data is over. We have decided to store and move our data online. The modern concept of data digitalization has advantages and disadvantages of its own. Nowadays, cyber security remains a major problem. The hazards of a breach and cyberattacks are unavoidable as more data is transferred online. The online conveyance of goods and payments that does not necessitate travel is the basis for all of ecommerce. Cyber-attacks can affect e-commerce transactions and the exchange of transactional data. The main goal of our study is to create a system that guards against certain anomalies, particularly while transferring transactional data, and to also put in place an automatic mechanism that makes sure these transactions go off without a hitch. We are utilizing cutting-edge technological advances like blockchain and smart contracts to put this into practice. Blockchain enables the safe storage and secure network-wide transit of data using a decentralized, unchangeable digital ledger. Blockchain technology enables quicker, safer, and more secure transaction transfers in ecommerce. The homologous transaction method and data encryption made possible by blockchain allow for the secure movement of transactional data. It is exchanged using blockchain. A smart contract is a unique software application that uses digital means to activate, verify, and execute a contract’s conditions. As long as the agreement is in force, it offers transactional security. Blockchain and smart contracts will transfer e-commerce in the coming years. We have coupled smart contracts with blockchain to preserve the transaction standard while also ensuring data security and user privacy. The outcomes of developing and putting into practice the suggested system—which offers a remedy for transactional data privacy—are described.