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ARTICLE · 17 APRIL 2001

E-Commerce: Doing Business In The 21st Century

United StatesAccounting and Audit
Michael Marshall
Michael Marshall

Could we evolve into a paperless society in the 21st Century? Not entirely, but the amount of paper needed to document commercial transactions should be greatly reduced because of e-commerce. The use of the Internet by consumers for online purchases has exploded over the last two years, and companies are developing e-commerce systems to provide for commercial purchase and sales transactions over the Internet.

Businesses are now becoming comfortable with using the Internet for sensitive transactions because of two developments. First, total encryption of the data transmitted is now relatively inexpensively available. With this process, businesses are developing confidence that the data being transmitted over the Internet will remain confidential.

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