Wednesday 8 November 2017

Week 8

DAY 8     MONTH 11

All about E- COMMERCE...
How is the traditional transaction?
- Repeating the steps of request quotation and reply quotation
- The process is time consumed

Now is the time for Electronic Data Interchange (EDI) system!
- EDI is the transfer of data between the computer systems by standardize the message instead of the intervention of people
- EDI allows companies from different countries to exchange their data electronically via computer system

What is Internet of Things (IOT)?
- anything related to internet which enable the things to connect and exchange data
- eg: kitchen display system applied in Burger King and McDonald
- however, it will not works when there is no internet


Contributing factors to E-commerce:
- wide availability of internet connection
- education (computer literate generation)
- busy lifestyle
- traffic jam
- bureaucracy

(Tesco Home Plus Korea - just capture the picture of the object and shop it)


What is block chain?
- transaction between internet users and the digital assets are being transferred
- bitcoins (digital money) are used
- many blocks (list of records) that connect together and secure cryptographically
- everybody can access to the blocks/ records of information, and any amendment or update of information can be detected and controlled
- therefore, block chain can prevent the money lawring



 

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