The history and evolution of ecommerce

What is e-commerce?

ecommerce is more than just buying and selling goods on the internet, it include internet process of developing, marketing, selling, delivering, servicing and paying for products and services. It is a modern business method to meet the organization, consumer, and supplier’s needs and to cut cost when doing business.


The history and evolution of ecommerce

In the late of 1970s, the electronically technologies such as Electronic Data interchange and Electronic Funds transfer enable the business companies and organization to send commercial documentation electronically.

In 1991, since internet was opened to ecommerce use, thousands of businesses take up residence in internet since that day. Come to 1994, the internet began to advance in popularity in within the general public, after develop the security protocol.

In May 1998, DSL expanded to California, this technology allowed people connecting to Internet at 50 times more speed than previously.

In Dec 1998, e commerce started famous as many online merchants success. Amazon.com was one of them. It generated 1 billion U$ in annual sales, AOL, generated U$1.2 billion in only 10 weeks.

In August 1999, an operating system “Linux” was created by Linux Torvalds and it was becoming very popular. This was a warning to Microsoft that there is come competition out there. And this made the Microsoft to invest heavily in regaining mind share among e-business and technology decision-makers. Or else, Microsoft will be substituted by Linux.

Another big thing in e-commerce was Napster. Napster allowed people to download music from Internet for free. After the people increasing using this website, Napster has met some legal problem. However, some researcher said that Napster make the consumers dictated how they want to related to industry.

On Jan 2000, AOL and Time Warner announced that they would be emerging. This merger brought together an old economy witan with a newer, online organization.

In Feb 2000, computer hackers attack the major players in the e-commerce which include yahoo.com, amazon.com, buy.com, and ebay.com. These organizations started to learn how to protect themselves from the attacks of computer hackers. A security upgrades were inevitable. However, this attack caused their customer lose confidence in shopping online. But U.S. Bancorp Piper Jaffray, Greg Konezny felt this occurrence was “merely a bump-in-the-road type situation.”

On May 10, 2000 the US House of Representatives extended the moratorium on Internet-specific taxes until 2005. Many people feel that the e-business industry is so vulnerable that the US government should let it grow with being hindered by taxes.

E-commerce has now become a famous type of business in the whole world. It is fast and convenient to consumer. It enhance a business with unlimited business opportunity.