The history and evolution of E-commerce

The evolution of E-commerce can be attributed to a combination of a regulatory reform and technological innovation. Through Internet which played an important role in the evolution appeared in the late 1960s, E-commerce now took off with the arrival of the World Wide Web and the browsers in the 1990s.

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, that expanded electronic transfer 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 organizations.

In the year of 1984, EDI or electronic data interchange, was standardized through ASC X12. This action guaranteed that companies would be able to complete transaction with another reliability. While in the year 1992, computers serve offer online retails products to its customers. This give the people the 1st chance to buy things off their computers. Netscape arrived in the year 1994 and it provide users a simple browser to surf the internet and a safe online transaction technology called Secure Sockets Layers. Following by the year of 1995, the two of the biggest name inE-commerce are launched which are Amazon.com and eBay.com. Digital Subscriber Line(DSL) provide fast and always-On internet service to subscribers accross to California。 This prompt people to spend more time and money online in the year of 1998. During 1999, retails spending over the internet reaches $20billion according to Business.com. Finally, in 2000, the US government extended the moratorium on internet taxes until at least 2005.