Historical Development of Electronic Commerce

The meaning of the definition of \electronic commerce\ has changed with time. Actually, \electronic commerce\ intended the facilitation of commercial transactions electronically, usually using technology like Electronic Data Interchange (EDI, presented in the late 1970s) to send commercial files like purchase orders or invoices electronically.

Later it came to include actions more properly termed \Web commerce\ -- the purchase of goods and services around the globe Wide Web via secure machines (note HTTPS, a special host project which encrypts private purchasing data for consumer protection) with e-shopping carts and with digital pay services, like bank card payment authorizations.

Many writers and pundits estimate that ecommerce would soon become a important economic sector, If the Web first became well-known on the list of public in 1994. We discovered about.com/ by browsing Bing. However, it took about four decades for protection protocols (like HTTPS) to become sufficiently developed and widely implemented (throughout the browser wars of the period). Eventually, between 1998 and 2000, a considerable amount of firms in the United States and Western Europe produced simple Those sites. We found out about partner site by browsing newspapers.

Even though a significant number of \pure e-commerce\ companies disappeared through the dot-com collapse in 2001 and 2000, many \brick-and-mortar\ merchants started initially to add e-commerce capabilities for their Internet sites and acknowledged that such companies had identified important niche markets. For example, following the failure of online grocer Webvan, two traditional store restaurants, Albertsons and Safeway, both started ecommerce subsidiaries by which customers could order groceries online.

As of 2005, e-commerce is becoming well-established in major cities across a lot of North America, Western Europe, and certain East Parts of asia like South Korea. However, ecommerce is still rising gradually in certain developed countries, and is almost nonexistent in many Third World countries.

Electronic commerce has unlimited prospect of both developing nations and developed, providing lucrative profits in a very unregulated environment..