Book excerpt: After the dramatic failures of the dot coms in 2000 and 2001, many observers were quick to report on the death of electronic commerce. Investor confidence sagged, stock prices of technology firms in nearly all of the related sectors suffered. In reality, the picture is not nearly as dismal as the press would have us believe. E-commerce is not dead, but it has moved beyond its overhyped beginning stage. This book is an effort to sort through the hype, providing a realistic assessment of the state of electronic commerce today, and the important areas of opportunity and challenge for tomorrow. The book sees all kind of developments where e-business is becoming an integral part of ‘traditional’ business processes, with special emphasis on practical and policy importance. E-commerce scholars from a number of disciplines and countries contribute to assess the impact of the dot com bust and the current state of e-commerce.