Electronic commerce in the context of Internet shop


Electronic commerce in the context of Internet shop

⭐ Core Definition: Electronic commerce

E-commerce (electronic commerce) refers to commercial activities including the electronic buying or selling products and services which are conducted on online platforms or over the Internet. E-commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. E-commerce is a part of the retail, the largest segment of the electronics industry and is in turn driven by the technological advances of the semiconductor industry.

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Electronic commerce in the context of Cryptography

Cryptography, or cryptology (from Ancient Greek: κρυπτός, romanizedkryptós "hidden, secret"; and γράφειν graphein, "to write", or -λογία -logia, "study", respectively), is the practice and study of techniques for secure communication in the presence of adversarial behavior. More generally, cryptography is about constructing and analyzing protocols that prevent third parties or the public from reading private messages. Modern cryptography exists at the intersection of the disciplines of mathematics, computer science, information security, electrical engineering, digital signal processing, physics, and others. Core concepts related to information security (data confidentiality, data integrity, authentication and non-repudiation) are also central to cryptography. Practical applications of cryptography include electronic commerce, chip-based payment cards, digital currencies, computer passwords and military communications.

Cryptography prior to the modern age was effectively synonymous with encryption, converting readable information (plaintext) to unintelligible nonsense text (ciphertext), which can only be read by reversing the process (decryption). The sender of an encrypted (coded) message shares the decryption (decoding) technique only with the intended recipients to preclude access from adversaries. The cryptography literature often uses the names "Alice" (or "A") for the sender, "Bob" (or "B") for the intended recipient, and "Eve" (or "E") for the eavesdropping adversary. Since the development of rotor cipher machines in World War I and the advent of computers in World War II, cryptography methods have become increasingly complex and their applications more varied.

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Electronic commerce in the context of Online shopping

Online shopping is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser or a mobile app. Consumers find a product of interest by visiting the website of the retailer directly or by searching among alternative vendors using a shopping search engine, which displays the same product's availability and pricing at different e-retailers. As of 2020, customers can shop online using a range of different computers and devices, including desktop computers, laptops, tablet computers and smartphones.

Online stores that evoke the physical analogy of buying products or services at a regular "brick-and-mortar" retailer or shopping center follow a process called business-to-consumer (B2C) online shopping. When an online store is set up to enable businesses to buy from another business, the process is instead called business-to-business (B2B) online shopping. A typical online store enables the customer to browse the firm's range of products and services, view photos or images of the products, along with information about the product specifications, features and prices. Unlike physical stores which may close at night, online shopping portals are always available to customers.

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Electronic commerce in the context of Payment system

A payment system is any system used to settle financial transactions through the transfer of monetary value. This includes the institutions, payment instruments such as payment cards, people, rules, procedures, standards, and technologies that make its exchange possible. A payment system is an operational network which links bank accounts and provides for monetary exchange using bank deposits. Some payment systems also include credit mechanisms, which are essentially a different aspect of payment.

Payment systems are used in lieu of tendering cash in domestic and international transactions. This consists of a major service provided by banks and other financial institutions. Traditional payment systems include negotiable instruments such as drafts (e.g., cheques) and documentary credits such as letters of credit. With the advent of computers and electronic communications, many alternative electronic payment systems have emerged. The term electronic payment refers to a payment made from one bank account to another using electronic methods and forgoing the direct intervention of bank employees. Narrowly defined electronic payment refers to e-commerce—a payment for buying and selling goods or services offered through the Internet, or broadly to any type of electronic funds transfer.

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Electronic commerce in the context of Mobile commerce

The term mobile commerce was originally coined in 1997 by Kevin Duffey at the launch of the Global Mobile Commerce Forum, to mean "the delivery of electronic commerce capabilities directly into the consumer’s hand, anywhere, via wireless technology." Some choose to think of Mobile Commerce as meaning "a retail outlet in your customer’s pocket."

Mobile commerce is worth US$800 billion, with Asia representing almost half of the market.

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Electronic commerce in the context of Internet regulation

Information technology law (IT law), also known as information, communication and technology law (ICT law) or cyberlaw, concerns the juridical regulation of information technology, its possibilities and the consequences of its use, including computing, software coding, artificial intelligence, the internet and virtual worlds. The ICT field of law comprises elements of various branches of law, originating under various acts or statutes of parliaments, the common and continental law and international law. Some important areas it covers are information and data, communication, and information technology, both software and hardware and technical communications technology, including coding and protocols.

Due to the evolving nature of the technology industry, the legal frameworks governing it vary significantly across jurisdictions and change over time. Information technology law primarily governs the dissemination of digital information and software, information security, and cross-border commerce. It intersects with issues in intellectual property, contract law, criminal law, and fundamental rights such as privacy, the right to self-determination and freedom of expression. Information technology law also addresses emerging issues related to data breaches and artificial intelligence.

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Electronic commerce in the context of Dell

Dell Inc. is an American technology company that develops, sells, repairs, and supports personal computers (PCs), servers, data storage devices, network switches, software, computer peripherals including printers and webcams among other products and services. Dell is based in Round Rock, Texas.

Founded by Michael Dell in 1984, Dell started making IBM clone computers and pioneered selling cut-price PCs directly to customers, managing its supply chain and electronic commerce. The company rose rapidly during the 1990s and in 2001 became the largest global PC vendor for the first time. Dell was a pure hardware vendor until 2009 when it acquired Perot Systems. It then entered the market for IT services. The company has expanded storage and networking systems. In the late 2000s, it began expanding from offering computers only to delivering a range of technology for enterprise customers.

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