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 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.
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.
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.
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.
Image courtesy of Pexels
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…