Blockchain -Enhanced Dynamic Pricing Strategies in Book Redistribution: Balancing Profitability and Fairness

Abstract

Dynamic pricing strategies in book redistribution is an online platform designed for the buying and reselling of second-hand books. The platform employs a dynamic pricing strategy facilitated through direct negotiation between sellers and buyers. By using technologies like React, Node.js, MongoDB, and Express, along with blockchain and smart contracts, its main aim is to balance profitability and fairness in book transactions. Specifically, the platform aims to enhance the efficiency and security of book redistribution processes and prevent fraud, including counterfeit books, to ensure trust in transactions. Each book on the platform is uniquely associated with a blockchain token, effectively mitigating the risks associated with fraud and counterfeit transactions. Smart contracts play a crucial role by enabling secure and transparent monetary transactions between parties involved in buying and selling books. Moreover, the platform fosters fair pricing through direct negotiation and provides a user-friendly interface that supports manual searches and negotiations. By integrating these technologies and functionalities, the platform not only enhances the overall efficiency of book redistribution but also promotes a secure environment that encourages trust and fairness among its users.