The history and evolution of E-commerce

Actually, do you all know what is meant by e-commerce? Let me explain to you all now, simply put, e-commerce is the online transaction of business, featuring linked computer systems of the vendor, host and buyer. Electronic transactions involve the transfer of ownership or rights to use a good or service.

E-commerce began before personal computers were prevalent and has grown into a multi-billion dollar industry, but where it come from? By looking at the evolution of e-commerce, it will be easier to judge its trends for the future.

E-commerce were first developed in the early 1970's. It was using technology like electronic fund transfer (EFT) and Eletronic Data Interchange (EDI) . With this technology, it allows the users to exchange business information and do electronic transaction. Furthermore, Netscape arrived in 1995. It provide users a simple browser to surf the Internet and a safe online transaction technology called Secure Sockets Layer. There are two biggest names in e-commerce lauched in 1995, which are Amazon.com and eBay.com. These are the first internet companies that allow eletronic transaction and it had succeed. Nowadays, the top five largest and most famous worldwide Internet retailers are Amazon, Dell, Staples, Office Depot and Hawlett Packard. Moreover, 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.

The growth of Internet has a special significance in the growth of e-commerce. It has the potential to involve general people into the process, thereby increasing its reach far beyond large companies. E-commerce will be widely used as the medium of transaction and become a neccessity in the world in the future.

References: newmedia.medill.northwestern.edu

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