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CRISTIAN ONICA, Analysis On Future Development Of Electronic Commerce

Abstract: On the international arena, we can clearly notice an extremely fast development of different varieties of relations regarding e-commerce. Some states are very progressive and do not hesitate to regulate or to establish a common appreciation of a certain technology or technology based relation, while others are still not doing anything about it and are keeping them either out of law or out of use per general. Implementing the new technologies like Blockchain, IoT and SMART contracts has plenty of benefits that come at a certain price. Talking about benefits, we can underline transparency, convenience of using new technologies for electronic commerce, cost-efficiency and efficiency of time also personalization and ability to adapt the technology to a specific type of commerce is mentionable. The price we still have to pay is defined by cyber-security, phenomena like phishing or even payment frauds, which are a proportionally growing illegal industry that develops along with e-commerce and are damaging commerce with around 50 billion $ every year. The fact that international commerce is ruled by a convention that dates from 1980 also does not help a lot, we are witnessing now a revolution in commercial relationships and regulation of all these new relations should become an international focus, since these come to change the classic way of thinking and acting, these changes are going on live, the fact that states are not doing anything about it, will not stop the progress, this is why all we have to do is to develop a commonly accepted treatment and an uniform application of law in these new spheres.

Keywords: E-commerce, security, law, international, IoT, Smart contracts


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