Blockchain Technology (10): Ethereum Decentralized Taobao Smart Contract Case

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In this article, we will introduce the core functions of a simple blockchain e-commerce system. For more than 10 years, we have been accustomed to Taobao's e-commerce model. Taobao has made outstanding contributions to the popularization of e-commerce in China, which is worthy of recognition and has fulfilled its historical mission.

What is the core of the Taobao model?

Free is one aspect, but I think the most important thing is that it solves the trust issue among online buyers and sellers. By using Alipay as a financial intermediary, buyers and sellers can trade with confidence.

However, after Taobao quickly rose to become a giant, many bad phenomena appeared in the transaction process: reputation fraud, internal corruption caused by huge economic benefits, etc. Therefore, although Taobao has become an e-commerce giant, it has not really solved the credibility problem of the e-commerce industry. This problem is not unique to Taobao, but a social phenomenon. If it is not Taobao, it may be Tencent or Baidu. In short, where there are people, there will inevitably be problems.

What will e-commerce look like in the future?

I believe that the future of e-commerce is built on the blockchain, a decentralized e-commerce platform. A truly credible organizational form that is not controlled by any company. Transactions are completed in the blockchain, and buyers and sellers do not need to trust each other. They can operate safely and reliably under the blockchain's fair and notarized system.

Well, it’s useless to just talk about theory. Let’s use the following example to explain the prototype of the decentralized e-commerce system.

Smart contract code:

Thoughts

From the above code, we can see that buyers and sellers can smoothly complete transactions by using Ethereum smart contracts as fund guarantees, replacing the roles played by Taobao and Alipay. Moreover, this reputation system cannot be tampered with and is completely credible. This system will become more and more valuable over time, and is naturally global, bringing new opportunities for cross-border trade.

When decentralized Taobao + blockchain supply chain, the chemical reaction produced in this way will completely solve the problems that Alibaba currently has difficulty solving, such as the credibility system, counterfeiting, and internationalization, and will give birth to a market space that is far larger than Alibaba's e-commerce empire.

Mr. Ma Yun has talked about the crisis faced by BAT on many occasions. I don’t think it is a casual remark against one’s will. As the most powerful thinker and strategist in the Internet era, Ma Yun has indeed seen the huge impact on the existing centralized Internet system during the transformation from information Internet to value Internet. Facing this transformation, the impact on the existing BAT is the greatest. The future belongs to emerging startups. Those experts who advocate that startups cannot grow bigger and stronger under the BAT mountain should take a break. You think so because you don’t understand and can’t see the future. The companies that will surpass BAT in the future are already running blindly.

I believe the future is here!