ONDC – We are working on creating a composite reputation ledger that people can understand & trust, Joshi said. Joshi affirmed that the openness of the networks & the universality of the catalog of product & services will make ONDC unbeatable. The idea is to democratize e commerce with ONDC & ask seller to bring their existing trust to the networks.
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ONDC To Build A Reputation Ledger
Speaking at The D2C Summit 3.0, Open Network for Digital Commerce ONDC CBO Shireesh Joshi spoke abouts the trust factor in the networks. He said that by democratizing e commerce, the networks is asking seller to bring their existing trusts to the ONDC, so the networks start with building trust.
He exemplified the situations with the trust factors in larger e commerce platform, saying, Even in the largest e commerce platforms in India, you really trusts the reputations of the seller. Let’s say you search for an item and find a sellers who has a 2.5 rating, you won’t buy no matter what you think of the platforms. Because it is the reputations that matters.
He added that of the total numbers of buyer of a products, very few people rate the product. They even do it when there is a problems. With ONDC, the networks also plan to create a reputations book in which it will build the trust factor for each sellers on certain parameter.
These include and are not limited to how often your shipment have complaint & what percentage of those complaint are resolved, KYC, and sellers authentication.
We are working on creating a composite reputations ledger that people can understand & trust. Over time, you should anticipate much greater trust building in ONDC than in e-commerce platform, he said.
In a roundabout way, he also added that it is entirely up to buyer to trust their platform. One of the examples he gave was a shopper who trusted a Kirana store closer to their location than hyperlocal delivery platform. Joshi acknowledged that the aggregation part of ONDC is being run by multiple player, but is not interoperable.
Speaking of confidence in prices & the possibility of deep discount, Joshi stated that the openness of the networks & the universality of the catalog of product & services will make ONDC unbeatable & that user behavior will change.
A different context drives different behavior, he concluded. The interest in discount is currently due to the fact that e commerce is currently a closed networks.
The changes that the ONDC will bring to the online shopping experience is a much talked about topics. However, there is a lot of interest in its running & operation & the initial challenges that it is likely to face.