Blockchain is about to disrupt the online commerce space.
Hard as it is to remember, what is now seen as “traditional” e-commerce was highly disruptive only a generation ago. Now blockchain technology is poised to upend this segment again.
This is happening just as internet penetration is truly becoming not only global but accessible. That means good things for online commerce in general. The vertical is set to hit a market cap of $1.2 trillion by 2020 just in the U.S.
However the current environment now actually poses a real headache for both buyers and sellers. Fraud and fake goods if not reviews are the bane of all who use e-commerce. The large online platforms like Amazon, prioritize goods if they are in-house products over the competition. Online third-party platforms as they exist today, also have high fees and prohibitive rules. They also cut off direct contact between producers and consumers. The middlemen get to keep the juicy data.
Consumers also lose. There is less choice ultimately, and less customization. And there is also no real incentive to review, help or share information.
Blockchained e-commerce platforms change all that of course. Rather radically.
Eligma is creating a new way to discover, purchase, track and resell products. The company’s blockchained platform will be driven by AI to create a new paradigm in the way people shop and sell online. Unique features include a “one-stop shop” from where they can select from global stores. On top of that, the system has created tools to guide people on where to obtain the most value from any sale they initiate – and when the best time to sell is. Very useful when selling second-hand items. On top of this, Eligma will also offer a completely decentralized universal loyalty program that could literally transform every household into a business.
There are three services the platform will offer:
Discovery: This feature allows global product discovery (both new and used), a single shopping account and the ability to make crypto payments.
Inventory: The Eligma platform can help create an accurate, AI-predicted value. As a result, this can also become a household trading agent. Not using something? Sell it easily. The automated second-hand listing feature makes this easy to do. Even at the time of “new” purchase. This also allows for the item to be tracked through its life cycle, facilitating a decentralized down-stream sale, also authenticated by this system, and further one of potentially greater value. The product’s life-cycle history brings value to the transaction itself.
Loyalty: The program creates a universal loyalty program where users are rewarded for contributions. Any kind of “merchant” can join. And ELI system tokens are used as a payment option.
Ultimately, the founders want to create a system where they save their users the one thing that money – either of the fiat or crypto variety – can never buy. And that is time.
There are six major benefits the platform offers consumers and merchants (who are often in this system, the same people).
Stop wasting time on shopping: While people love to shop, they hate to waste time. There are a huge variety and number of stores online today. And while purchasing the product, once found, is easy, finding it is an increasing problem. Not to mention ensuring that you are buying the real thing – not a knock-off.
Manage all online stores from one account: Most consumers today have a hard time tracking and managing their current online store accounts. This limits purchase options and does not allow an easy price comparison. Of course no online store today also suggests when the optimal time for purchase or sale might be either.
Track everything you own: People acquire assets over the course of their lifetimes, but many of them are not used, much less trackable. By creating a unique inventory of personal assets, the Eligma platform creates a unique way to buy only what you need, and sell what you do not.
Protect your privacy while shopping online: Online stores monitor every move customers make while on their site. Using the Eligma system protects your online consumer habits from prying eyes.
Benefit from a loyalty program that really works: The Eligma system creates a bonus and incentives pool that really works.
Eligma’s name appears to be a play on one of the most famous early cryptographic machines – the Enigma Machine. This early computer helped the Allies crack Nazi code and turn the course of the war.
There is nothing mysterious, however, about the achievements of the team behind this intriguing use of similar technology. Dejan Roljič, the founder, began his entrepreneurial journey as a teenager. He also founded the ABC Accelerator and has been involved in several highly successful token sales. Matej Gregorčič, co-founder, has an event management background and also recently led a successful token sale. Jože Mermal, the other co-founder, has successfully managed BTC City, one of the largest business, shopping, entertainment, recreation and cultural centers in Europe.
Here are the details of the upcoming Eligma token sale:
Token name: ELI
Token base: ERC-20
Token supply: 500 million tokens generated, 300 million sold
Token sale target: USD $3 million (soft cap), USD 24 million (hard cap)
Token sale start: Presale starts March 20, 2018
Token price: 1 ELI = $0.10
Minimum contribution: 0.1 ETH