Discuss in brief the history of E-Commerce.
History of E-commerce illustrated below:
E-commerce began before personal computers were prevalent and has grown into a multibillion dollar industry. By looking at the evolution of e-commerce, it will be easier to judge its trends for the future.
In 1984, Electronic data interchange or EDI was standardized via ASC X12. It guaranteed that companies would be capable to complete transactions along with one other reliably.
In 1992, CompuServe gives online retail products to its customers. It gives people the initial chance to buy things off their computer.
In 1994, Netscape arrived. Offering users a simple browser to surf the Internet and a secure online transaction technology termed as Secure Sockets Layer.
In 1995, two of the biggest names within e-commerce are launched as: Amazon.com and also eBay.com.
In 1998, Digital subscriber Line or DSL gives fast, always onto Internet service to subscribers across California. It prompts people to spend more Money, and time online.
In 1999, Retail spending over the Internet reaches as $20 billion, as per Business.com.
In 2000, U.S government extended the moratorium upon Internet taxes till at least 2005.