A Novel Framework for Decentralized C2C E-commerce using Smart Contract

Abstract

Security and users privacy have become an important factor in today's customer-centric world. Most of the trade nowadays is carried on e-commerce as it's easy and hassle proof. In C2C (Customer to Customer) e-commerce (Olx, eBay, etc) which acts as an intermediate between sellers and buyers, when a user buys products from these e-commerce that deals with a used products like Olx, eBay, etc cost evaluation becomes difficult and we end up buying it at the hiked price as there is no authority to verify that price quoted by seller is justified or not. These e-commerce websites often sell user data and influence users to buy specific products, they also charge transition fees for every good sold. In past years a lot of fraud has been seen on these e-commerce platforms as they don't have any existing model to prevent fraudulent people from joining their network. Besides these websites also control and manage the product reviews given by the genuine buyer. Keeping this scenario in mind our research focuses on various issues related to existing C2C e-commerce and overcoming them by using blockchain technology along with cost evaluation model. The use of blockchain in this scenario can help to move this centric model to a distributed model helping the user to trade better without letting share their personal information to others and getting products at the right price. This research work is aimed to provide better cost evaluation of used goods, provide data privacy and a sense of trust to end-users by leveraging various aspects of blockchain technology.