Elysian – Creating A Revolutionary New Ecommerce Platform

Elysian – Creating A Revolutionary New Ecommerce Platform

The Ecommerce industry is huge and growing. In fact, data anticipates close to a 250% growth in worldwide ecommerce sales, from $1.3 trillion in the year 2014, to $4.5 trillion in 2021.

The image below illustrates the 10 largest ecommerce markets in the world today.

The top three are China with $672 billion in Ecommerce sales a year, the United States with $340 billion and the United Kingdom with $99 billion. However, despite the thriving growth of the Ecommerce industry, there are still some major flaws within it.

Elysian recognizes this and proposes the integration of blockchain technology, in order to create a revolutionary new Ecommerce platform.
Here are three changes that the Elysian platform will implement:

1. Security

As proved by recent data breaches of Equifax and Target, it is clear that security is an aspect that could definitely be improved on in the Ecommerce industry. Elysian proposes the usage of smart contracts and the storage of customer data on the blockchain, which will provide an extra layer of security which is much needed. Elysian hopes that this will form a new level of trust between businesses and the consumer.

2. User Experience

Elysian intends to integrate two novel concepts in to its revolutionary new Ecommerce platform; Artificial Intelligence and Virtual Reality. They hope that this will provide an enhanced user experience as consumers are offered more detailed descriptions and lifelike visualizations of products.

3. Atomic Swaps

The Elysian platform will offer atomic swaps, meaning that users can convert their transactions to whichever token they choose, including the Elysian (ELY) token. This will help to reduce or even eliminate fees for users and ultimately help users to purchase goods more efficiently.

Cryptocurrency and Ecommerce

There is currently a lack of Ecommerce companies accepting cryptocurrencies as payment for products and services, meaning that consumers are forced to pay with fiat currency. Bitcoin was originally designed to eradicate the need for centralized monetary systems and to encourage peer-to-peer transactions.

However, Bitcoin has become somewhat of a speculative investment, which understandably is putting off many consumers investing in it as a viable alternative to fiat currency.

Growth Pool

Elysian recognizes the importance of community, that many companies that operate in the cryptocurrency area seem to neglect. As a result, these companies often have poor support for their product and an inefficient social media presence. This makes it hard for them to grow. Elysian propose setting aside a certain percentage of Elysian tokens (ELY) as an incentive to promote interaction and engagement between the team members of Elysian and the community.

Elysian have created the Elysian forum, which is specifically designed to encourage ideas for future expansion, to discuss potential partnerships and for ideas for token utilization. Tokens can be used by community members to personally contribute towards the projects growth, or they can earn tokens from the growth pool on completion of specific tasks.

The funding of projects or partnerships will be put forward in the form of community votes. A project must receive a minimum of 51% “yes” votes and pass the responsible voting requirements, in order to receive funding. The funding itself can be provided by members of the community, the Elysian team or both.
There are measures in place to stop spamming or manipulation of community members and Elysian will have the final say as to whether a project can go ahead or not.

More Information

For more information on the exciting Elysian project you can visit their website here: https://elycoin.io/ Or for a more in-depth look of their team, the platform and token sale information you can check out the Elysian whitepaper here: https://elycoin.io/whitepaper/english

If you have any comments on the Elysian project or my article feel free to post them below!

My BitcoinTalk forum profile link is: https://bitcointalk.org/index.php?action=profile;u=1559399