Disruptor Daily: Why is e-commerce struggling to adopt blockchain?
Disruptor Daily recently asked digital executives: what are the top challenges to blockchain adoption in e-commerce?
Without understanding the technical component of blockchain, retailers shy away from embracing an innovative new technology that will cost pennies on the dollar for transactions and sales. Yet e-commerce and traditional retail both stray from exploring this new frontier.
As Mavatar CEO Susan Akbarpour told the publication, the number one hurdle preventing companies to take a chance on blockchain? “The top challenge facing blockchain adoption in e-commerce is the same facing blockchain adoption in every other sector: fear. Fear of blockchain’s decentralized and democratic nature, its novelty, and lack of well-defined user interfaces and applications.” When companies aren’t sure a new technology will resonate with their customer, they’re reluctant to take the plunge.
Akbarpour goes on to say, “The word ‘blockchain’ might perk up a lot of curious ears, but it won’t necessarily help convert interest into action. For blockchain e-commerce technology to cross the chasm to mainstream adoption, it will require a combination of prominent pioneering organizations, clever marketing, and well-designed systems that drive the complexity of this technology to the background and introduce applications the mainstream can touch, understand and use.”