E business part B - On Line Payment, B2B technologies, Supply Chain Management

This lecture discusses:

Online Payment Methods
The lecture covers various online payment options including credit/debit cards, which are widely used and offer instant payments and fraud protection. Other methods include bank transfers, digital wallets (e.g., PayPal, Apple Pay) , "Buy Now, Pay Later" (BNPL) services like Klarna , mobile carrier billing, and cryptocurrencies such as Bitcoin (BTC). Bitcoin, created in 2009 by Satoshi Nakamoto, operates on a distributed ledger.

Blockchain and Cryptocurrencies
Bitcoin mining involves solving complex mathematical puzzles to validate transactions and is rewarded with Bitcoin and transaction fees. This process requires finding a "nonce" for a cryptographic hash function, with an average block mining time of about 10 minutes for Bitcoin. The Bitcoin blockchain is decentralized and replicated across thousands of nodes, ensuring data integrity and security. Bitcoin's supply is capped at 21 million, and mining rewards halve approximately every four years, designed to control inflation and secure its value. A Bitcoin wallet comprises a private key (for signing), a public key (for verification), and an address (for receiving bitcoins). The lecture also contrasts Bitcoin's Proof of Work (PoW) with Ethereum's more energy-efficient Proof of Stake (PoS). PoW consumes significant energy and generates CO2 emissions.

B2B Technologies
Key B2B technologies discussed include:

Electronic Data Interchange (EDI): A protocol for exchanging documents between computers in a standardized format, offering speed and reduced costs.

XML (Extensible Markup Language): Allows users to define custom tags for data exchange.
cXML (Commerce XML): A standardized XML-based protocol for automating procurement.
JSON (JavaScript Object Notation): A lightweight, human-readable data-interchange format widely used in web APIs.

APIs (Application Programming Interfaces): Sets of rules enabling software applications to communicate and exchange data.
Web Services: Software interacting over the Internet, often via REST or SOAP APIs.
B2B Process Integration Frameworks: Standards like RosettaNet, ebXML, and SWIFT that define business processes and message formats.
Blockchain-based B2B platforms: Utilize distributed ledgers and smart contracts for secure and automated transactions.

Supply Chain Management (SCM)
SCM involves coordinating production, inventory, location, transportation, and information across the supply chain.

Tracking goods is facilitated by barcodes, QR codes, RFID, GPS, IoT sensors, and blockchain.
SCM is incorporating Circular Economy Principles for resource efficiency and waste reduction.
Private Industrial Networks are collaborative platforms for strategic partners.
The Bullwhip Effect, where small demand fluctuations amplify upstream, is a challenge.
Vendor Managed Inventory (VMI), where a seller manages a buyer's inventory, helps mitigate the bullwhip effect.