ZETRIX – Can Blockchain Tech Drive the Rise of E-Commerce in Asia Further?

ZETRIX Blockchain

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ZETRIX – Can Blockchain Tech Drive the Rise of E-Commerce in Asia Further?

When the government encouraged people to self-isolate and stay home to contain the spread of COVID-19, the use of online shopping, food delivery apps and online payment platforms saw a huge increase. An estimated more than 70 million people have shopped online since the pandemic began, according to a report by Facebook and Bain & Company, and that trend isn't going to end anytime soon.

In fact, Asia's e-commerce revenue is projected to grow to $1.92 trillion by 2024 and account for 61.4% of the global e-commerce market. This may have more to do with the Regional Comprehensive Economic Partnership (RCEP), a proposed agreement between member states of the Association of Southeast Asian Nations and its free trade agreement partners.

RCEP will encourage innovation and up-gradation in manufacturing to meet demands and will also promote the establishment of new industry standards and regulations, helping the economic development of all member states. The migration to an online economy with increased manufacturing and trading capabilities thanks to RCEP signals a new approach.

ZETRIX, Blockchain, Cryptocurrency, RCEP, E-Commerce

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