The history and evolution of E- Commerce

What is E-commerce?

E-commerce(EC) is the process of buying , selling , transfering , or exchange product, services, information via computer networks, including the internet.

The Evolution of E-Commerce

E-Commerce were first developed in the early 1970s with innovations like:

Electronic funds transfer (EFT) - funds can be routed electronically from one organization to another.

Electronic data interchange (EDI) – used to electronically transfer routine documents, which expanded electronic transfers from financial transactions to other types of transaction processing.

Interorganizational system (IOS) – a system which allows the flow of information to be automated between organizations in order to reach a desired supply-chain management system, which enables the development of competitive organisations.

Evolution event of EC


1984
EDI, or electronic data interchange, was standardized through ASC X12. This guaranteed that companies would be able to complete transactions with one another reliably.

1992
Compuserve offers online retail products to its customers. This gives people the first chance to buy things off their computer.

1994
Netscape arrived. Providing users a simple browser to surf the Internet and a safe online transaction technology called Secure Sockets Layer.

1995
Two of the biggest names in e-commerce are launched: Amazon.com and eBay.com.

1998
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.

1999
Retail spending over the Internet reaches $20 billion, according to Business.com.

2000
The U.S government extended the moratorium on Internet taxes until at least 2005.

2004
Web 2.0 was coined by O'Reilly Media to a supposed second generation of Internet based services that let people to collaborate and share information online in perceived new ways- such as social networking, wikis, communication tools and folksonomies.

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