ELYSIAN - Revolution in the E-commerce Industry With Blockchain Technology

Blockchain is the revolution in the history of mankind. blockchain is an undeniably ingenious invention. Blockchain allows digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. ELYSIAN is a decentralised blockchain powered e-commerce platform which allows to create e-commerce websites. E-commerce industry is growing exponentially. People are preferring online shopping than retail stores. Attractive offers and huge discounts are the key factors by which online shopping is rising among the youths. Online shopping websites built on today's traditional technology are not secured. The users data like personal and financial details are not safe. Every year cyber criminals steal millions of users data, when they hack these shopping websites. Today the security for users data stored online is a major concern. With the integration of smart contact and blockchain technology Elysian is here to provide higher level of security for users data. By the implementation of artificial intelligence and virtual reality Elysian wants to revolutionize the e-commerce industry.

Current Challenges of E-commerce Industry :

• Security : E-commerce websites built on today's traditional technology are vulnerable to hacking attacks. Each time a shopping website get hacked millions of users data gets compromised. Users personal data, their address, credit card details are very sensitive data. Today's broken technology is very much vulnerable to data beach.

• Cryptocurrency acceptance : Today their is a sharp rise in the cryptocurrency market. People's intrest towards cryptocurrency is increasing day by day. Unpredictable market of cryptocurrency is the major factor. Besides the security and the safety provided by cryptocurrency is remarkable. Cryptocurrencies will replace the fiat currency in future. But even though shopping websites are still not accepting cryptocurrencies for the purchase of products online. This is a another major concern.

• User Experience : In every shopping website user experience play an important role. A good user interface helps to easily navigate to desired products. Often people face difficulties in searching products. In some of the websites even if you directly search the product you can't find them. Often times many websites will not provide the complete product details. Product images are so limited that you can't make your buying decision.

Elysian solution to these challenges :

• Security solution : Security is the bond of trust between the consumer and supplier. In order to protect the trust Elysian is implementing Blockchain technology to secure users data.

Blockchain technology : As we mentioned earlier Blockchain is the backbone of new type of internet. Blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. And Elysian platform allows users to create e-commerce websites on blockchain technology. Blockchain technology provides higher level of security to users data. Elysian chooses proof of authority over proof of work which is power consuming and proof of stake which does not meet the level of security that Elysian wanted.

Proof of authority : Proof of authority is a new type of concept in the blockchain technology which allows Elysian platform to create a private blockchain to store encrypted users data and credit card details over a distributed network. Encrypted users data is secured with private keys of individual users.

• Use of cryptocurrency : Elysian ecosystem allows e-commerce websites created on its platform to accept cryptocurrencies. Cryptocurrencies are secured, provides faster transaction and all the transactions are publicly available which makes them decentralised currencies. In future crypto-blockchain market replace the traditional banking system.

Atomic swaps : Elysian ecosystem provides Atomic swap feature by which users can freely convert one token into another token without going to any exchange.

• User experience : In order to enhance the user experience Elysian platform is implementing Artificial Intelligence and Virtual Reality. These features will revolutionize the e-commerce industry.

Artificial intelligence : Believe me artificial intelligence is the future of technology. AI (artificial intelligence) is the simulation of human intelligence processes by machines, especially computer systems. These processes include learning (the acquisition of information and rules for using the information), reasoning (using the rules to reach approximate or definite conclusions) and self-correction.
In Elysian artificial intelligence help users to easily navigate the website. AI assistants help users to find the product they are searching for. AI learns users interest, their likings and next time it will only show the user interested products. Which potentially saves time.
AI functionalities in Elysian platform is similar to -
Alexa (Amazon)
Siri (Apple)
Cortana (Microsoft)

Virtual reality : Virtual reality (VR) means experiencing things through our computer's that don't really exist. Implementation of virtual reality in the shopping industry will definitely change the way we shop online. With virtual reality you can feel store like experience by sitting in your home. VR helps to examine the product in detail, it's vivid graphic system shows the true colour of the product. Which helps to determine the quality of the product. With all these details we can make our buying decision very effectively.

• Growth pool : Growth pool is basically designed to promote engagement between Elysian team and it's community. By running campaigns with growth pool, Elysian team get suggestions from users to improve the project. Users get rewarded with ELY tokens. Elysian has allocated 35% of its tokens for growth pool.

• Token system :
  Elysian uses ELYCOIN (ELY) token in its platform. ELY is a Ethereum blockchain based ERC20 token. ELY tokens can be used as a preferred method of transaction in the Elysian ecosystem.

E-commerce Platform Competitive :

Token distribution :

Token Generation Event :

Currently Elysian ICO is launched on Qryptos from June 20 - July 8.

You can visit here to buy ELY tokens :
 https://qryptos.com/ico/ely

ICO details :

Elysian Team :

Advisors :

Conclusion : Elysian platform is fulfilling the necessary needs of e-commerce industry. From providing security for users data with blockchain technology to enhancing users experience with artificial intelligence and virtual reality. Elysian wants to revolutionize the e-commerce industry. It will change the way we shop online. Elysian has well experienced team members. It's really a great project with real use case application. It is definitely worth investing your hard earned money.
Know more about Elysian here :

Elysian ICO Ratings :

Website : https://elycoin.io
Whitepaper : https://elycoin.io/whitepaper/english
Bitcointalk : https://bitcointalk.org/index.php?topic=3332920.0
Twitter :
https://twitter.com/Elysian_ELY
Telegram : https://t.me/elysian_ely
Facebook : https://www.facebook.com/ElysianxELY/
Medium : https://medium.com/@Elysian_Ely
LinkedIn : https://www.linkedin.com/company/elysian-ely
YouTube : https://www.youtube.com/channel/UCm0BGtPu1nB-7HbeJsHKJTw

About Author : Abhijeetcg