Search results for "the blockchain"

E-Fairs: a Cyber-Physical System for Aggregation and Economy of Scale in e-Commerce

2018

In recent years, the e-commerce arena has deeply changed because of the advent of new business models and the growing weight of huge global actors like Amazon. Some business models create competition between users, and the product price tends to rise (e.g., online auctions); other models, including group-buying, make users cooperate, and the price tends to go down. The present study extends the group-buying model and proposes a cyber-physical system called e-fair, in which both sellers and buyers are grouped to negotiate on a specific product or service. E-fairs minimize the global purchase price and the shipping resources respectively with the aggregation of demand and supply as well as or…