Many cryptocurrencies in the current industry lack a legitimate profit-generating product and utility for their token. Consequently, there is no real security for supporters of these projects regarding stable, long-term growth. As with almost all other projects in the space, investments in these companies are purely speculative. It is an issue that plagues the cryptocurrency market and is precisely not what Satoshi Nakamoto had envisioned a decade ago.
Elysian is a new, innovative E-commerce platform designed to improve both the E-commerce industry and cryptocurrency market. The primary function of the platform is to serve as an intermediary between businesses and consumers, allowing businesses to operate on the platform. Also, they provide an elevated level of security by storing customer data on the blockchain to prevent data breaches, such as Equifax in 2017.
The project will launch its platform in early 2019, using its own E-commerce store as a beta test for the platform to verify its credibility. The store itself is a productive way to generate revenue less than a year after a token offering, which seems to be a lost art nowadays. The store will operate on the Elysian platform. Elysian is positioned as one of the first few platforms in the space to incorporate blockchain technology to improve current flaws in the realm of E-commerce. With a market size of $2.3 trillion in E-commerce and several hundred billion in cryptocurrency, there is room for rapid expansion within the first few years of its existence. It will allow Elysian to have a tight grip on the cryptocurrency market in this niche and give them a significant opportunity to compete with the likes of Shopify, Woocommerce, and Magento in E-commerce.
The Elysian token (ELY) is a prime example of a utility token. Perhaps the most practical example of this is evident in their growth pool model. Community members will be incentivized to present ideas on the Elysian forum to improve the project. Each campaign will then be voted on strictly by community members, with a minimum of 51% needed to acquire funding for the campaign. Tokens for each campaign can be provided by either the team, from the growth pool allocation, or by community members that wish to contribute. This model is explicitly designed to grow the community and develop a healthy relationship between the core team and its supporters. Also, a wide variety of campaign ideas can be presented to the public to assure that only the most legitimate options are eventually chosen to help the company progress. The growth pool is useful for allocating tokens after the token event to a specific cause to benefit the project. The integration of community members and the use of tokens by members, into the Elysian ecosystem is a creative and practical purpose.
The current landscape in the cryptocurrency market calls for more projects that bring legitimate value to the industry. Outsiders are still apprehensive, primarily because cryptocurrencies themselves are speculative investments that are volatile. If companies in this market can integrate themselves into reputable industries such as E-commerce, finance, and automotive, there would be an instant gigantic improvement in credibility.
As a result, a higher level of trust would develop between businesses and consumers. Elysian is set to become the gateway between cryptocurrency and E-commerce, utilizing both industries to its advantage. The innovation of the platform will be a breath of fresh air for both businesses and consumers in an industry where the status quo needs to change to adapt to future necessities. It is what it will ultimately allow the industry to continue to thrive.
For further information please visit: https://elycoin.io/