Online business

In today’s digital world, where incidents of data tampering and forgery are increasing rapidly, it has become imperative to protect any data that is sent online. For the safety and security purpose of the data, Digital Signatures are expanding in popularity amongst the professionals. It validates the authenticity of a document, file, or software.

What is a Digital Signature?

The digital signature implements a mathematical pin or algorithm to sign, and it also validates the authenticity of a document, file, or software without using pen and paper. A digital signature is used to ensure that the data that is digitally sent belongs to a designated source, and it reaches the receiver in the same way as an envelope seal does. The digital signature is a small block of data attached to documents you sign and this signature is used to certify or approve documents.

Why do we need Digital Signature?

Traditionally, sending a physically signed document from one country to another via a courier was a time-consuming process. Moreover, there was a wastage of paper while transmitting the documents.

On the other hand, while using a digital signature, you can electronically send the texts in a matter of minutes and save lots of time and money. Various researches were conducted globally to understand the significance of digital signature, and it was concluded that you could save an entire working week for any professional by using digital signatures.

How does Digital Signature Work?

Digital signatures are established on Key Infrastructure and generate two keys, a Public Key and a Private Key. The private key is considered to be confidential and is kept by the signer. On the other hand, the receiver has access to the public key and the authority to decrypt the message.

It can be further elaborated as, suppose there is a person named Peter, who wants to send an encrypted message to Lee. Here, Peter has the private key to sign the document digitally. Before encrypting the message using the private key, an algorithm named ‘MD algorithm’ encrypts the message to be sent by Peter into a 128/256-bit format known as a hash value. Then Peter’s private key encrypts this hash value. On completion of both the processes, Peter’s message is said to be digitally signed.

On Lee’s side, the digitally signed message is decrypted with the help of the signer’s public key. The public key decrypts the message and transforms it into another hash value. Then the message is opened with a program(e.g., MS Word, Adobe Reader), and a comparison is made with this hash value to the original hash value, which was generated on Peter’s side. If the hash value on Lee’s side matches with the hash value created on Peter’s hand. After this, the message is opened, and if both hash values match, it displays the message “The document has been modified since this signature was applied.” If both the hash values do not match, it shows the following message:

“The document has not been modified since this signature was not applied.”

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The growth in data tampering incidents has caused a significant increase in the acceptance of digital signatures. The latest research depicts that the global Digital Signature market will expand to 24.2% from 2017 to 2025. Moreover, digital signatures are considered equivalent to handwritten signatures in many countries. Bearing in mind the perks involved along with the potential dangers, it is safe to conclude that the digital signature is the next-gen solution for potential digital frauds.

Online shopping is one of the biggest advantages of the Internet. Shopping is loved by most of us, and online shopping sites have made it a lot easier for us to shop in just one click. With so many different shopping websites flourishing every other day, it is recommended to choose the most reliable and secure e-portal.   

I have mentioned some of the best eStores which can help you find all your needs from books and clothes to handmade items, jewelry, electronics, and even groceries & medicines.   

Amazon 

Amazon is the most popular online shopping site that has evolved from a small bookstore to the world's largest online store. The company not only sells millions of items from its warehouse but also has set up a marketplace for millions of marketers to sell their products. On this platform, it is even possible to compare prices from a host of individual sellers. Additionally, Amazon has made it even easier to shop for the products you frequently buy using the Dash button. The cash-back offers from Amazon have attracted millions of users to shop from this store.   

eBay 

One of the world’s largest online auction stores- eBay has developed from a startup that supplemented a Pez collection. This site contains multiple product categories and also provides the option to become an eBay seller and sell your unwanted items. This site is also famous for a variety of collectibles sold here. Some of the other varied features of eBay include seasonal gift guides, a Daily Deals page, and periodic discounts on electronics. The advanced options on eBay make it easy to find products that come with free shipping, search for used, or new products and available products along with 'Buy It Now'. In short, eBay’s recognition as a bargain-shopping destination helps it to secure a higher ranking among shopping sites.   

Etsy 

Etsy is a global online shopping site that offers goods from incredibly talented craftsmen from across the globe. You can explore anything from handmade soap to unique crystal necklaces and caramel apples on this site with great deals online. Innovative and handmade products crafted by artisans from different parts of the world are the specialty of this site. If you are the one who could design customizable items, Etsy is the best marketplace for you. This could help you gain a lot of exposure.   

Google Shopping 

Google shopping is one of the most unnoticed yet robust platforms that assist you in shopping at multiple popular stores. You can easily filter the products by selecting the appropriate category, store, price, brand, type, features, and delivery cost. You can also choose which are the products available near your location while shopping through this portal. Google Shopping also empowers you to buy some of the products directly from the platform itself offering Quick checkout. It is completely free to browse items on this platform; however one requires to have a Google account in order to purchase any item. Moreover, on logging in to their Google account, shoppers can see personalized product recommendations and promotional offers.  

Overstock.com: Online Shopping - Bedding, Furniture, Electronics, Jewelry, Clothing & more: 

Overstock.com: Online Shopping - Bedding, Furniture, Electronics, Jewelry, Clothing & more is one of the most efficient shopping websites that deliver various products in different categories such as furniture, outdoor rugs, apparel, kitchen, and several other departments. Most of the exciting features of this app are displayed on the home page itself. It offers some exciting deals like featured sales, top deals, and unique ways to shop specifically by your room size or style. Apart from this, there are a variety of filtering options also available while you search for different products.   

To make it even simple, I have listed the major advantages and disadvantages of all these apps:  

Hence, all the facts mentioned above would help you understand the most used online shopping site.

Coronavirus is at high-rise today. China, Italy, Spain, the USA, and many other countries are devastated due to this deadly disease. When the World Health Organization (WHO) has declared it as a global emergency, governments of all affected nations have requested their citizens to stay at home and quarantine.

Lockdowns are imposed in almost all the affecting countries. Special measures are undertaken to supply food and essential services to the homes, hospitals and, other needy ones if they are stuck somewhere.

As per the news channels reports, the epicenter of Corona, Wuhan, is opening soon for all of its routine workflows. Things are gradually resuming there, but Italy, Spain, and America are still suffering nations reporting hundreds of deaths every day. Their economies are thrashed brutally, and their supreme heads have declared their inability to cope up with the situation. India is under an observation these days.

When all significant nations have locked down their main cities due to the coronavirus pandemic, brands across the globe are worried as to how the entire situation will affect ecommerce as a whole. According to Technomic, a global consulting and research firm reports that the stock market has become increasingly volatile. More than 52% of the consumers are maintaining self-distancing and avoiding crowds, and 32% are not leaving their homes unless there is an emergency.

Coronavirus is affecting eCommerce Business. How?

1. Severe disruption to supply chains is the most apparent and immediate business impact of the corona virus pandemic on the businesses. People are forced into self-quarantine, and this led to a partial and full shutdown of some companies, plants, and factories. For example, Foxconn, a primary manufacturer of Apple iPhones has shut down its production in China, and thus, Apple experienced shortages of its iPhone supply in the country.

2. Due to the Coronavirus pandemic, several of the most important tech-conferences got to cancel, and it is likely to result in numerous missed partnership opportunities for the businesses. For example, Facebook canceled its F8 developer conference and Global Marketing Summit. Google has also rescheduled the Google Cloud Next event to online only. As per PredictHQ, the cancellation of the tech events has incurred more than $1billion of direct economic losses.

3. The need for remote interactions has increased during Coronavirus pandemic, and it has highlighted the need for 5G technology to improve connection density. Many organizations have given the ‘Work From Home’ facility to their employees. Hence, telehealth and teleconferencing facilities should be given high importance.

4. WHO has suggested consumers use contactless payment options considering the pandemic. People in rural areas still lack operating such facilities and thus, altering their shopping options or minimizing their usages that is further affecting the ecommerce businesses.

5. Due to coronavirus outbreak, up to 85% of the brick-and-mortar retail shopping turned into digital shopping, leading to creating the logistic challenges to the companies. The delays in supplies due to over-crowding demand has also become a challenge for the businesses these days.

6. Delivery services across the board for on-demand goods, food delivery, and grocery are observing an increase in new customers. Still, contactless supply, minimized risk of infection have become a challenge to the businesses to maintain consumer’s trust.

7. National Retail Federation in the US noted a downfall in the business due to falling consumer spending. The payment companies like PayPal, Visa, and Mastercard are revising their revenue estimates downward.

How can you protect your business during Coronavirus Pandemic?

If you have an ecommerce business, you can still protect yourself from this pandemic. Due to the progression of COVID-19, here is what the experts suggest for the best of your business’s survival.

1. Be wise and transparent. Do not alienate your audience.

2. Do not over-communicate. The consumer confidence level is quite low these days.

3. Diversify your supply chain.

4. Keep advertising.

5. Focus on virtual products.

6. Get social connections with consumers.

Build the trust of your customers. All the above-given tips have the same essence i.e. build your customer’s trust. It will turn back to you positively when the situation improves.