Open Network for Digital Commerce (ONDC) is a digital platform that is being developed to

bring about a revolution in the world of e-commerce. ONDC aims to revolutionise the way
people shop online by offering secure and efficient digital payments. With its innovative
features such as secure storage of digital assets and real-time transaction monitoring,
ONDC could revolutionise e-commerce in India.
One might think about the benefits of ONDC. Well, the team of ONDC plans to incorporate
the latest peer-to-peer blockchain technology and smart contracts in their system. It has the
potential to revolutionize the e-commerce industry by providing users with an easy, secure,
and cost-effective way to make payments and purchase goods online. By leveraging AI-
based technologies, ONDC can better user experience while ensuring data security. There is
no need to be concerned about its features because they are cutting-edge, including secure
storage of digital assets and real-time transaction monitoring. ONDC has the potential to
disrupt this system by reducing transaction costs, enabling faster payment settlements, and
increasing transparency and security in transactions. Small and medium-sized enterprises
(SMEs) have been struggling to cope with the high transaction costs associated with the
current e-commerce system, ONDC platform is here to save the day.
UPI has enabled millions of Indians to carry out digital transactions effortlessly and has
become a huge success in the country. ONDC has the potential to become the next UPI,
given its similarities to UPI and the potential it might transform the digital payment landscape
in India. You might want to know about the similarities between ONDC and UPI. ONDC and
UPI shares several similarities, such as the focus on interoperability, security, and ease of
use. These infrastructures are built to support frictionless digital exchanges between various
platforms and payment methods. ONDC has the potential to transform the digital payment
landscape in India by enabling faster, cheaper, and more secure digital transactions.
Aadhaar has enabled millions of Indians to access government services and schemes
effortlessly and has become an essential component of the digital economy in India. “ONDC
has the potential to become the next Aadhaar”, how? Given the similarities between ONDC
and Aadhaar, it shares its focus on interoperability, and ease of use. ONDC has the potential
to bring a vast change in the digital identity cosmos by enabling secure and seamless digital
identity verification for merchants, traders, and consumers. This will be particularly beneficial
to SMEs, which often struggle to comply with the cumbersome identity verification
requirements of the traditional e-commerce system.
Problems can arise regarding the concern about data management and data protection.
Nevertheless, ONDC can harness the network to find the best pricing among retailers and
sellers. It is being acknowledged as the next UPI since the government hopes it will
democratise e-commerce and give small sellers access to systems and technology that
currently only big companies like Flipkart and Amazon enjoy. Although it promises to be the
future of online payment systems, providing an alternative to traditional payment methods
such as UPI and Aadhaar, it could also disrupt traditional e-commerce models by making it
easier for customers to find what they need and make payments quickly. As Indian E-
commerce is booming, The Indian government is interested in opening up more
opportunities for e-commerce operators and increasing millions of small enterprises and
traders access to the digital market.“Every industry and every organization will have to
transform itself in the next few years. What is coming at us is bigger than the original
internet, and you need to understand it, get on board with it, and figure out how to transform
your business.”