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.
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Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges…
Crypto Billionaire Predicts Massive Price Growth by 2021
Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
- Little to no transparency
- Consumer lack of confidence
- Privacy concerns
- 48-72 hour wait time for withdrawals
These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
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