Online business is concerned with conducting business transactions electronically using information and communication technologies. There are two main categories of Marketplace: Business-to-Consumer (B2C) and Business-to-Business (B2B).For example in Indonesia, small and medium enterprises (SMEs) have historically been main player in domestic economic activities, especially as a large provider of employment opportunities, and hence a generator of primary or secondary source of income for many households.
Products have shorter life cycles due to rapidly changing market demands. Enterprises are under pressure to keep up with the latest trends and innovate by introducing new products, while keeping their total manufacturing costs low because they understand that trends will not last for a long time. This also demands a flexible supply chain that can be utilized for manufacturing other products and for future projects.
Tractability and transparency are some of the most important foundations of supply chain. Blockchain can optimizes b2b transactions and trading relationships with robustly secure business networks on blockchain—both at scale and globally. The main use of blockchain offers a shared ledger that is updated and validated in real time with each network participant. It enables equal visibility of activities and reveals where an asset is at any point in time, who owns it and what condition it’s in.