The holiday shopping season has started. This means that online stores are once again at their peak like it is every year at the same period. Thanks to famous e-commerce markets such as Amazon and eBay. Shopping has never been easier, and it also has never been more unsafe for both the online stores itself and the consumers, as well. Customers who use the internet to shop for merchandise are exposed to numerous risks and hazards that happen through the online stores’ own servers. Its centralized structure makes it hard to prevent vulnerabilities such as hacks, scams, and frauds.
Online business systems ask for information and data, a copy of valid IDs, credit card account/s, and/or bank account/s of both the customers and the merchants. Hackers and scammers consider this as their gold mine for fraudulent activities. A recent report from Bloomberg stated that about 100 sellers in Amazon have been hit by what they called “extensive fraud” within just six months in 2018. Allegedly, some hackers who have not been identified yet were able to transfer cash from loans or sales from the sellers’ accounts into their own. This is clear evidence of how vulnerable internet stores are, regardless of how big and popular they are.
A powerful way to avoid such tremendous online vulnerabilities is a decentralized market like the Virie Market. It’s a distributed exchange network platform, which in itself is the entire network. It cannot be shut down or taken down even if the majority of its hubs were suppressed simultaneously. No IDs or any other personal information will be required in creating an account in Virie. Users can just use aliases that are stored in blockchain storage along with the transactions, therefore making it untraceable and unlinkable. To simplify it, no one will be able to hack or scam any accounts or transactions in Virie.
Furthermore, there will be no data breaches since there is no single server that stores the information. No one else controls it but the users themselves, which means that it is they who decide whom to share their data and information. This further means that there are no third parties to be paid a huge amount of commissions just to process the transactions. It has a peer-to-peer network structure that eliminates control from any third party institutions or governments. There are no limitations on location, social, and financial status. Anyone can exchange anything for anything with anyone from any part of the world. Both the merchants and the consumers should shift to a decentralized internet market like Virie to avoid the vulnerabilities of online shopping and selling. Check it here and see for yourself.