Research on Business Model Governance and Consumer Privacy Protection Path of E-Commerce Industry Based on Blockchain Technology

In the process of the development of e-commerce, there have been various kinds of chaos that infringe on the rights and interests of consumers, so it needs legal supervision. The commodity traceability system based on PBFT algorithm is an important way to protect consumers' rights and interests. In order to solve the problem that the security of consumer's personal information data cannot be guaranteed due to the random selection of the main node of the traditional PBFT algorithm and the low scalability in e-commerce, research and propose strategies to improve. A VBFT algorithm is proposed based on the verifiable random function and the encryption lottery algorithm, which makes up for the problems of the random selection of the main node and the low scalability of the PBFT algorithm. The results show that the communication cost of VBFT algorithm is 85KB, the communication delay is 4.05s, and the security of VBFT algorithm is 95.00%, they are superior to several existing improved PBFT algorithms and effectively protect the privacy rights of individuals in the e-commerce industry. The above results show that the proposed method has significantly improved the performance of PBFT algorithm, and has positive significance for the protection of consumers' rights and interests and the development of legal supervision of e-commerce industry. In addition, the improvement of relevant laws in the e-commerce industry also contributes to the stable and sustainable development of the e-commerce industry, and has positive significance for the development of China's market economy.