Elysian : The Solution to Outdated Ecommerce Stores
E-commerce has changed the face of business in more ways than we could imagine.
Before the advent of the internet, success in retail was based on location. Now, the worldwide web has a market of a grand scale, giving the smallest retailer, a global presence.
Now in the 2010s, things are going well, really fast.
According to a Statista report, the ecommerce industry was responsible for about $2.3 trillion of the retail sales in 2017 and is expected to hit $4.5 trillion. Presently representing 10% of the retail sales in the US alone, ecommerce is expected to grow by 15% annually.
But this is not the only way ecommerce is changing today's business.
As much as 54 % of millennials shop online, mobile commerce has grown by a stunning 300% and there is even talk of retail using more than 600,000 drones for deliveries (more than half of Americans are are already open to the idea) this year alone.
With the increasing number of businesses turning their efforts to e-commerce globally, there has been a surge in fraud cases.
Data breaches made big news in recent years. Uber had 57 million accounts breached and Facebook is still reeling from the effects of the Cambridge Analytica scandal.
Reports show that as of June 30, 2017, there were a total of 791 cases of data breach, an increase by 29% than the same time in the previous year, making the issue of protecting customer data, an issue to be considered by e-commerce stores.
Another issue is user experience. Many e-commerce sites still use designs that are quite traditional and not enough to capture the interest of consumers. This scenario creates a need for a unique user experience that will keep the consumer engaged and to make purchases.
Elysian, a blockchain based platform hopes to tackle these issues and make the online marketplace, safe for consumers and make online shopping, an experience to be be enjoyed.
What Can Elysian Do?
The Elysian project is an ecommerce platform based on blockchain technology that gives entrepreneurs the option of building modified e-commerce stores on it. This platform aims to solve the issues related to user experience and security.
The platform will have a Proof-of-Authority consensus mechanism. This mechanism will provide a private blockchain where consumer data can be stored away from hackers and cyber criminals. It is also important to note that most blockchain marketplace competitors do not have this feature.
Furthermore, Virtual Reality and Artificial Intelligence will be used by Elysian to give the customers a unique shopping experience. Virtual assistants will be provided for customers to help in navigating the stores and making purchases. A 3D view of items on display will also be available at these stores to make the experience more engaging for the customer. These stores will be customizable, giving users freedom to create stores that appeal to them. These features enhance engagement from buyers which leads to an increase in sales, the ultimate desire of every merchant.
Cryptocurrencies of all types can be used on this platform, using the atomic swap function. This is made possible by the AirSwap technology which can convert any cryptocurrency to another. Merchants can easily transfer present assets on a particular currency to another. These assets can be stored in a private wallet if they wish. All these can be achieved with the push of a button.
Rivals
The idea of a blockchain marketplace is not new and there are several projects who are in this line of business. Shopify and Woocommerce are big name competitors but the most important is the French newcomer, the Origami Network.
Although it shows striking similarities with features such as the presence of a utility token, the use of blockchain technology to secure customer data (amongst others), the Elysian project is light years ahead the Origami Network for the following reasons :
It will be the first platform to support Virtual reality stores (my personal favourite)
Artificial Intelligence integration to help customers find their way easily around the websites on the plaform.
The integration of the Atomic swap feature to allow the conversion of cryptocurrencies.
Now, you understand why Elysian is a major contender.
Partners
Partnerships are relevant for a startup to succeed. They are a way of utilizing the various technologies and skills other startups have created, to make their product more complete. At this point, the Elysian project has collaborated with eight e-commerce startups and the most interesting are the ones that make Elysian, a profitable venture.
They include Airswap (responsible for the Atomic Swap Feature), Cappasity (will work with Elysian to create the 3D experience in the virtual stores) and finally iFashion (will be a quick revenue generator with over 200,000 clients).
Team
The team behind is made up of 12 members and has a wide range of expertise ranging from blockchain tech to e-commerce. This team is headed by the founder, Leo Ameri, a tech entrepreneur with experince in blockchain. Other top members include an economist with managerial experience, Jesse Brandenburg and the CMO, Ioan Hategan, who has expertise in a wide range of fields including marketing and e-commerce.
The project also has a total of 10 advisors, who are experts respectively in the field of Fintech, communications, finance amongst others.
Roadmap
Token
The Ethereum based Elysian Token (ELY) will be the official token of this platform and 1 billion of them will be produced. It will be used to carry out transactions and can be kept in a private wallet, eliminating the need to use existing cryptocurrencies which charge high fees or credit cards which are suspectible to being hacked.
TOKEN SALE: ENDED
TICKER: ELY
TOKEN TYPE: ERC20
TOTAL TOKENS: 1,000,000,000
Final Thoughts
Ecommerce is big business and Elysian's vision to make it stay that way (by improving the experience of users and fighting data breaches) is quite commendable. It's a strong team and advisors drawing from heavyweights such as Ericssion, Bell, Morgan Stanley and many more, gives this project a solid backing. I think it's a worthy investment to watch closely.
Questions or enquiries regarding the Elysian platform are welcomed from our esteemed readers.
For more information about this viable platform, feel free to contact any one of the company representatives through any of the following links listed below. Cheers !!
SOCIAL LINKS
TELEGRAM
ADDITIONAL LINKS
The technology behind the blockchain has been mainly used to create various altcoins with the purpose of ramping up in the coin price, rather than being applied to the real industrial needs. It’s good to know Elysian isn’t created for this purpose.
The introduction of the Elysian platform would surely make us enjoy the all the full benefits associated with ecommerce and Blockchain Technology combined. I hope there won’t be set backs again.
I look forward to more exciting news. Every day people are talking about this project. This is a sign that the project is becoming more popular. This is just a beginning for Elysian.
Thank you for the sharing this high quality project with the community.
It was an objective review, we see so many projects happening here and there but none of them have a solid plan for real world adoption like Elysian does.
As a merchant would love to use the Elysian platform to build a customized website for my business that would improve user experience which would in turn lead to an increase in sales.
A very innovative approach, has its own uniqueness and differs a lot from other similar projects which would make it stand out in the midst of other competitors and would be noticed by crypto giants.
I hope Elysian would be adopted by all in the long run, this is a project definitely worth investing in to those seeking profitable investments.
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