Electronic Commerce (EC) is the process of using computer networks to buy, sell, or exchange products, services, or information. In other words, EC is a modern business methodology that addresses the needs of organizations, merchants, and consumers to cut costs while improving the quality of goods and services as well as the increasing speed of service delivery through Internet.
In the early 1970s, the development of EC applications are started with electronic funds transfer (EFT). EPT refers to the computer-based systems used to perform financial transactions electronically. The use of these applications was limited to financial institutes, large corporations, and some daring businesses.
Electronic data interchange (EDI) was developed in the late 1970s to improve the limitation faced in EFT. The pool of participating company is enlarged from financial institutions to manufacturers, retailers, services, and others, by the use of EDI.
The term ‘electronic commerce’ was coined in the early 1990s when Internet became commercialized and users began flocking to participate in the World Wide Web. Then, EC applications were rapidly expanded.
Evolution
Many innovative applications, ranging from direct online sales to e-learning experiences had been developed since 1995. Despite that, every organization in the world has a Web site.
In 1999, the emphasis of EC shifted from B2C to B2B. The stress of EC transferred from B2B to B2E, e-government, e-learning, and m-commerce in 2001. Later the social networks, I-commerce and wireless applications started to rise in 2005.
E-commerce will undoubtedly continue to shift and change in the future.
EDI, or electronic data interchange, was standardized through ASC X12. This guaranteed that companies would be able to complete transactions with one another reliably.
1992
Compuserve offers online retail products to its customers. This gives people the first chance to buy things off their computer.
Netscape arrived. Providing users a simple browser to surf the Internet and a safe online transaction technology called Secure Sockets Layer.
Two of the biggest names in e-commerce are launched: Amazon.com and eBay.com.
1998
DSL, or Digital Subscriber Line, provides fast, always-on Internet service to subscribers across California. This prompts people to spend more time, and money, online.
Retail spending over the Internet reaches $20 billion, according to Business.com.
2000
The U.S government extended the moratorium on Internet taxes until at least 2005.
Source: http://newmedia.medill.northwestern.edu/courses/nmpspring01/brown/Revstream/history.htm
Related links:
http://www.une.edu.au/asiacenter/KKaur.pdf
http://www.eonenet.com/press/vcd_launch_20030826.htm
http://www.blogger.com/post-edit.g?blogID=2061634782012788734&postID=1848731259242797455#%20http://globaltechforum.eiu.com/index.asp?layout=printer_friendly&doc_id=8706
http://gigaom.com/2006/05/13/the-myth-reality-future-of-web-20/
http://ict.cdimm.org/man/engleza/ecomm03.pdf
http://www.tamingthebeast.net/articles6/world-wide-web-evolution.htm
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