Technological Model for Cryptocurrency Payments in E-Commerce

Luis Navarro, Juan Mansilla-Lopez, Christian Cipriano

2024

Abstract

The number of cryptocurrency users worldwide increased by 190 % between 2018 and 2020, with Bitcoin being the most widely used. Credit card gateways request the payment of a usage fee, a sales tax that generates cost overruns for the businesses that use it. Likewise, virtual stores are exposed to cybersecurity threats, such as SQL injection and man-in-the-middle, which could affect the integrity and confidentiality of their information. This research proposes a Technological Model for Cryptocurrency payments based on a set of guidelines to develop a virtual store that accepts Bitcoins as a payment method and offers measures that guarantee the security of the integrity and confidentiality of its information. The structure of the model is based on a three-Tier architecture pattern that includes a private Blockchain in which the information of the sales made in the virtual store and of logistics (purchase orders, suppliers, and products) is stored. The model was validated in an online business, evidencing a reduction in the percentage of transaction costs.

Paper Citation

in Harvard Style

Navarro L., Mansilla-Lopez J. and Cipriano C. (2024). Technological Model for Cryptocurrency Payments in E-Commerce. In Proceedings of the 20th International Conference on Web Information Systems and Technologies - Volume 1: WEBIST; ISBN 978-989-758-718-4, SciTePress, pages 25-34. DOI: 10.5220/0012916800003825

in Bibtex Style

@conference{webist24,
author={Luis Navarro and Juan Mansilla-Lopez and Christian Cipriano},
title={Technological Model for Cryptocurrency Payments in E-Commerce},
booktitle={Proceedings of the 20th International Conference on Web Information Systems and Technologies - Volume 1: WEBIST},
year={2024},
pages={25-34},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0012916800003825},
isbn={978-989-758-718-4},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 20th International Conference on Web Information Systems and Technologies - Volume 1: WEBIST
TI - Technological Model for Cryptocurrency Payments in E-Commerce
SN - 978-989-758-718-4
AU - Navarro L.
AU - Mansilla-Lopez J.
AU - Cipriano C.
PY - 2024
SP - 25
EP - 34
DO - 10.5220/0012916800003825
PB - SciTePress