It is settled jurisprudence that competition law, or antitrust law as developed in US, is industry agnostic and is relevant for both pro-competitive and anti-competitive effects in an industry. Accordingly, Web3 and its application to electronic commerce is not an exception to the same. With regards to the pro-competitive effects, it can be said that on account of features such as decentralization, interoperability and open protocols, there is autonomy with the end users, which in turn can compel companies to innovate and increase the ambit of choices given to consumers, thereby perpetuating healthy market competition. Such a phenomenon can percolate to different levels of electronic commerce such as Business to Business (B2B), Business to Consumer (B2C), Business to Government (B2G), among others. For instance, if a customer purchases a product from a B2C platform, where because of Web3 adoption, the prices negotiated between buyer and seller is accessible to other customers and competitors, there shall be price and information symmetry and lack of centralized control by the platform, consequently leading to healthy competition.
Source: Barandbench
