Having Business of E-Commerce on Blockchain Technology - Elementh Review
Five or even ten years ago, you would not realize that a free market based on electronic ecosystem would be a giant in recent times. In the past, outlets on the street or luxury shopping complexes spearheaded a product's trade. Indeed, to this day the status of the product display location is still a major factor reference of exclusivity of a product. But, this paradigm shifted away nearly 40% of the main considerations. The power of retail markets that was unthinkable before, is now the spearhead of a product.
Recent questions are coming to the stage, to what extent can a market place platform was the main storefront of a display product and to be the core parameter of direct selling? Already often the media reviews how terrible the commercial market online that can penetrate to various parts of the world. The mainstream media seemed very confident and did not hesitate at all in lowering the news about the superiority over marketplace platforms. Amazon, Alibaba, Ebay, Lazada, and several thousands of e-commerce platforms out there, can contribute billions of dollars in revenue to a country. At the very least, the real sector economy is active and shows very positive expectations in the future. Very fantastic!
Now, in the era of more advanced technology, along with the birth of cryptocurrency world since 2010, more and more platforms or new applications are also born by the cold hands of computer programmers. They race always present in the front line. Special to the area of blockchain technology, now comes an application called Elementh. Elementh is a blockchain infrastructure designed for e-commerce market. Elementh provides all participants of e-commerce market with real-time and historical data onto stock inventory and price. It also allows to create decentralized and centralized applications based on the Elementh blockchain.
Element Application
How does Elementh work? As I referring on their website www.elementh.io, Actually the workings of this application is quite easy and simple. Precisely because it is decentralized, then the transaction mechanism will be B2B. In this case, each prospective buyer, will contact the desired store, select the desired item, and make direct payment for fiat or crypto money, without going through a third party. As an online store owner, in this Elements application you are free to design the format of your online store. The seller provides accurate information even to Geo-location to prospective buyers, so that the buyer freely determines where he will buy the goods he wants.
There is a feature called System of Good. In line with the token system, Elementh has a goods system, which can also be used in a large number of applications, such as tracking the movement of certain goods from its manufacture to the current owner, tracing the goods genuine and detecting counterfeit goods. Unlike the token system, the goods system also provides the ability to "publish" a particular product of a particular address, indicating all possible item data (such as name, manufacturer, barcode, etc.). And if an identical item is already in the blockchain, the publisher will receive a message about it, and he will have the opportunity to show how many items he wants to "publish". If an item has a serial number, it is possible to determine it when a transfer operation is being performed.
To provide protection against the forging of data, only the hash of the serial number specified in the system, therefore only the person who knows the initial number has the ability to perform a valid transaction. In the absence of a serial number at the time of "removing" the item, the system generates it randomly and the holder can use it to identify the particular item by printing the QR code on the packet, writing it in RFID tags or in other convenient ways.
One of the main features of Elementh is the availability of an integrated nomenclature (To ensure that the goods card is as complete and accurate as possible, and to reduce the likelihood of making duplicate cards, the cost of creating and using cards will be different.) To create merchandise cards, 1 EEE (the price will be set by selecting a delegate.) At the time when the owner adds items to the system, he is offered to use existing cards or create new ones.The use of existing cards costs 100 times less than new ones (eg 0, 01 EEE) Cardholders receive prizes for each item owner who uses the card, and to make transactions using this card Each participant in the system can complete the information in the existing card, and the cardholder can accept or reject the proposed changes.
ICO
How can you become part of this great app? Don't ever imagine the complexity, it is very simple way. From now on, you can participate actively to enjoy the features as well as investments that you planted later. You can buy Elementh Token (EEE). Since the Elementh Token is a utility token, it is constantly moving around in the system. More than 70% of tokens (71.78% will be sold via ICO) will belong to the system of participants and will continuously move around within the Elementh. Initial token distribution of companies and end users will be carried out through ICO. The Elementh Foundation will exchange these tokens for ETH or BTC which, in turn, are used for blockchain extension, development, attracting new investors and maintaining the entire system. The Elementh Foundation receives EEE tokens as a fee from each transaction in the system. From 75% to 99% of the received fee will be paid by the Elementh Foundation to the masternodes for system maintenance. Up to 25% of the fee will be retained by the Elementh Foundation for daily operations, business promotion and technical development. Service providers pay the fee in the system and receive tokens in turn from companies requiring their service. Any interaction, such as access to the company's necessary data, will be paid with EEE tokens in the system.
The Elementh Foundation's financial assets consist of the initial funding received during the ICO, the fees from all operations in the Elementh blockchain and digital asset income. The Elementh financial department will primarily aim to manage all financial assets and make financial reports on a monthly basis. From a financial point of view, the Elementh Foundation will maintain the balance between expansion and community development. Besides the initial funding from the ICO, the Elementh Foundation will be able to obtain digital asset income through the system internal operations. By means of establishment of the third party trustee, transparency of the distribution of income to all operations and community development will be maintained. The Elementh Foundation will appoint a full-time financial team to manage its financial and digital assets. The financial team will report directly to the Foundation management, and regularly prepare financial reports and disclosures of the Elementh Foundation.
Elementh Funds distribution
Team
Steve Jobs once said: “Great things in business are never done by one person. They’re done by a team of people”. And i totally agree. It's represents by their team’s story began five years ago when Russian enthusiasts Sergey Ryabov (Elementh CEO) and Dmitriy Bereznitskiy (Elementh CTO) undertook one of the biggest challenges in the market: arranging to work with wholesale suppliers.
Executive Team
Sergey Ryabov, CEO
Dmitriy Bereznitskiy, CTO
Vitaliy Mengeshev, COO
Artem Kirillov, Blockchain Developer and Architect
Aleksandr Vasilev, Data Scientist
Sergey Morozov, Blockchain Developer
Eugene Prigornitskiy, Go Developer
Sergey Miheev, System Administration
Peter Gashnitsky, UX/UI Designer
Alexander Kholodnykh, Backend Developer
Team's Advsiors
Naveen Yannam, Tech advisor and early contributor
Proorocu Aurel George, Marketing advisor
Michael Averbach, Financial advisor
Sergey Fradkov, Legal advisor
Road map
The Elementh’s technology team has three main goals. First, Research & Development, priority is given to the bottom level of technology and development, it employs the most advanced technology analysis and experiments. We will draw up plans for development of the next generation of the technology and conduct a feasibility study. Second, Development: on the basis of R&D results, we shall carry out development until the initial testing result is obtained. And the third, Testing. For deployment and maintenance: Having obtained the development result, the R&D team must improve and correct the testing results as well as proceed to relevant deployment and maintenance.
You can see the roadmap details on www.elementh.io to see how far their initial footsteps are building this app until the moment they want the future of this project realized.
Token Details:
Symbol : EEE
Type : ERC-20 standard
Total supply : 303 000 000 EEE
ICO price : 1 EEE = 0.0002 ETH
Private pre-sale/pre-ICO round : closed. Collected 910 ETH.
ICO start date : 1 April 2018 00:00 UTC
ICO end date : 30 April 2018 23:59 UTC
ICO soft cap : 10 000 ETH
ICO hard cap : 30 000 ETH
ICO bonus scheme : 1st day: 30% Tokens, 2nd day: 15% Tokens
There is no minimum or maximum amount to participate in the ICO stage.
Country : Singapore
Whitelist/KYC : KYC
Useful Links:
Website : https://elementh.io
Telegram : https://t.me/elementh_community
Facebook : https://www.facebook.com/Elementh-1371154296341075/
Bitcointalk : https://bitcointalk.org/index.php?topic=2899838.0
Instagram : https://www.instagram.com/elementhio/
Steemit : https://steemit.com/@ahooleeman
Medium : https://medium.com/@Elementh.io
Youtube : https://www.youtube.com/channel/UCNoPrTYvQvu31ISDeUhxS3Q
Github : https://github.com/ElementhFoundation
Author:
Name: Yuni Tango
Bitcointalk username: Arwani112
Bitcointalk profie link: https://bitcointalk.org/index.php?action=profile;u=1345832
Telegram: https://t.me/yunitango
ETH address: 0x150564A1Fbe12a1D03F74a2e152Fc7468b7Cd7bD