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Elysian and ELYCOIN (ELY): The Future of eCommerce

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eCommerce
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eCommerce is everywhere these days. If you’re not selling online, chances are you’re about to go out of business. The likes of Amazon and Alibaba have used their massive economies of scale to become the industry giants that they are today.

While Amazon and Alibaba represent the hallmarks of capitalism and made their founders immensely wealthy, they have made themselves the gatekeepers and central authority figures in the eCommerce world. This is anathema to what Satoshi Nakamoto outlined in his white paper.

The reality is that the centralized eCommerce system is greatly flawed. The current system is prone to security hacks like we witnessed at Target and Equifax. Customer data including addresses, credit cards, and search history are all stored on Amazon servers. The question has become not a matter of if an attack will occur, but when.

Furthermore, transactions are only done in fiat currencies and require the use of a third-party payment processor like Paypal. Packages are then sent from the manufacturer to the distribution warehouse to the postal carrier and finally to the customer’s doorstep. Along the way, there’s the risk of theft, loss, and damage without even mentioning the costs to record the shipment, but also deliver the goods.

The eCommerce industry is in desperate need of a blockchain solution. Luckily, the folks at Elysian have developed a platform to address these flaws.

Elysian

Elysian is a new decentralized platform that builds eCommerce websites on the blockchain and uses innovative features such as upgraded security and unprecedented user experience to fix current flaws in the eCommerce industry. The platform integrates blockchain technology to provide improved services in comparison to its competitors that do not operate on the blockchain.

Elysian will use the Proof-of-Authority algorithm on its platform. Proof-of-Authority consensus will provide the Elysian ecosystem with a private blockchain to store encrypted credit card information and other user data securely over a distributed network, which will build trust between eCommerce businesses and consumers.

In addition, user experience faces a drastic transformation by implementing artificial intelligence and virtual reality to create simple, efficient website navigation and aesthetically pleasing graphics for users to provide the ultimate experience.

The Elysian AI will handle general tasks and information more efficiently than Amazon’s Alexa, Google’s Home, or Apple’s Siri by providing more accurate, in-depth responses to user questions.

The Elysian platform will give users an option to create their own virtual reality that will result in an unprecedented level of user engagement and experience because the environment will be created solely by the user.

Team

The Elysian team is comprised of 12 members of the leadership team and 10 advisors. Elysian is led by CEO and Founder Leo Ameri, who has extensive experience in eCommerce having successfully exited multiple eCommerce stores. On the board of advisors side, Token Advisors CEO Daniel Santos just joined Elysian. Daniel has 15 years of finance experience, including previously working for Morgan Stanley, Deutsche Bank, Citigroup, and Renaissance Capital. He provides useful knowledge and experience in the financial and banking departments as the project moves forward into the public stages of its token sale.

Token Economics

In the Elysian system, ELYCOIN (ELY) will be the fuel that powers the Elysian platform. ELYCOIN will serve as the primary method of access to transactions on the eCommerce platform. The token will have the ability to be kept in a private wallet and then sent to the Elysian platform to facilitate transactions for services, avoiding the hassle of using a credit card or the high fees of Bitcoin. The ELY token will be on the ERC20 format.

Elysian will be minting a total of 1 billion ELY tokens. At the end of the TGE, the starting circulation supply will be around 250 million.

The total hard cap is $19 million. Elysian is raising $1.6 million in a private event, $2.4 million in the PRE-TGE, and $15 million in the TGE. The PRE-TGE is priced at $.06 and the TGE starts at $.08 and goes up to $.12 per token. The PRE-TGE runs from May 21 to June 3 and the TGE runs from June 4 to June 24. For those that get in on the PRE-TGE this month, the price is exactly half of what token buyers will be paying on June 24th when the TGE is completed. We like this structure as it rewards those who get in early.

Bottom Line

When you consider that global eCommerce sales will exceed $4 trillion by 2021, there’s an enormous market opportunity for Elysian. Elysian will be the first eCommerce platform to integrate blockchain technology to store all customer data securely and implement artificial intelligence and virtual reality to create the ultimate user experience. This certainly makes Elysian not only one of the most ambitious projects we have looked at but a true gamechanger in the eCommerce field. For those that are interested in taking part in the PRE-TGE starting on May 21, check out the Elysian website, white paper, Medium, and Telegram channel.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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