Potential Analysis on the Use of Block Chain Technology for the Identity Management of Customer Data in E-Commerce of Otto.De

Abstract

Block chain technology is considered as one of the leading platform that makes involvement of a combination of records in the form of blocks which ensures proper security measures with the help of cryptography . The block consists of an efficient rate of data along with other essential factors such as timestamps, hash etc. These elements are considered as important enough for an appropriate processing of the operations. The report is about discussing the impact of block chain technology on the identity management of Otto. Otto.de is one of the leading retailers in Germany that involves a variety of products and services that can act able enough to satisfy the basic and lifestyle requirements of an individual. Identity management based on the block chain technology will help Otto in providing an adequate rate of data security to Otto while managing various operations of e commerce and online marketing. Block chain is classified as a technology that can be termed as secure enough so, this can prove helpful enough for Otto as well as this ensures to reduce the risk of any sort of fraud etc. A block chain for Otto can also be termed as a distributed database system that will help the e commerce retailer to make involvement of all the required data and information in a way that it can stay secure enough and also will help in reducing any possibility related to fraud etc. Therefore, it can be considered that it can help in providing an efficient identity management to Otto in managing of all the operations and processes. E commerce is considered as the online marketing of the products and services of an organization. So, while managing the e commerce operations of Otto, there might be some factors that can be termed as a challenging one for them in terms of data security, reliability etc. So, using block chain with aspect of identity management can help the e commerce retailer in managing all the security concerns of identities as well as data. So, the use of block chain is associated with managing the records of all the transactions with the help of cryptography.