A brief history of e-commrce
...ay be completey virtualized , holding no inventory. IF information, entertainment or digital products such assoftware are sold ovr the Web, the entire busine process-from prospecting to order procssing to delivery -can occur online. E-commerce aplicatons started in the early 1970s, with such innovation as lectronilcfun tranfrs.However, the extent of the aplicatiowas limited to large coporrtions,financial institutions, and afew daring mall busineses.then came EDI, which expanded from financial transactions to other transacton procssing and enlargd the participating companies from financilinstitutions to manufacturers, reailers srvices,and s on.M any other applications followed,ranging from stock trading totravel reservation systerms. Such systerms wre described as telecommunication applications nd thir stratedic vluee was widelyrecognized. with the commercializationof the Internet in early 1990s and its rapid growth to milions of potential customers, the term electronic commerce was coined, and EC applications expanded apidly. one reason for the rapid expansionof the technology was ...