Which solutions is Elitium planning to develop?

Yesterday I started to write a series of articles about the Elitium project, which is a new platform planning to implement blockchain technology to provide some well-needed solutions in the luxury industry.

So far, I have published 2 articles, the first one consisted of a proper introduction to the project, with some general information and some of the luxury markets that Elitium is planning to serve with their platform.

The second article, was about some of the problems that Elitium is trying to solve involving issues affecting both the cryptocurrency scene and the luxury industry.

The natural step after discussing some of the problems, would be to discuss the solutions that this team will bring to the market. In the following sections I will include some of these solutions and the corresponding explanation to properly understand them.

Elitium solutions

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• “Integrated global luxury platform for luxury brands” ^Source: the goal is to make it easier for both luxury brands and the customers, to find each other and facilitate the sale of any luxury product or service. The idea is to integrate all the luxury markets we can think of and make them available in just one place. In order to make this easily accessible for potential customers, Elitium is planning to develop their own mobile application for both iOS & Android.

• “Elitium’s Online ATM provides a Fiat gateway for cryptocurrencies” ^Source: this will be of big help to those users that are in constant need of making crypto to fiat transactions. Having an online ATM will reduce the potential friction in the processes that some users have to endure when trying to do a crypto to fiat conversion.

The truth is that even though a lot of crypto users, perhaps the majority of them, would prefer to use cryptocurrencies 24/7, in the real world it is actually almost an impossible thing to achieve, especially if the person just wants to have a normal life without having to constantly find a solution that uses crypto. This is the reason why most crypto users, are forced to find crypto – fiat gateways to easily handle their money in the type of currencies that are needed for a particular situation. Elitium understands this need and is acting accordingly by developing their own solution.

^Source

• “Real use-case and dedicated strategy for EUM” ^Source: in previous articles I mentioned that Elitium’s own token is called EUM and the goal is for this token to be the fuel of Elitium's integrated platform, users will have to own some EUM tokens to be able to participate, this way, every single person or business that wants to be part of Elitium luxury platform, will have to use EUM tokens, giving them a real-world use case and a real reason to prove they are valuable.

• “Improving operational efficiency with smart contracts” ^Source: it is clear that one of the major advantages of smart contracts is the automatic trigger of certain transactions depending on what conditions have been met. When implementing smart contracts, there will be a lot of operations that will happen automatically, which will make everything run smoother and save a lot of time in administrative and accounting tasks.

Conclusion

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In this article, some of the solutions that Elitium is planning to bring to the market were properly explained, it has to be said that what this project wants to accomplish is extremely challenging, successfully developing a functional mobile application and use it to integrate luxury brands from all over the world will certainly require a lot of hard work.

However, the fact that some of the Elitium team members have experience developing successful digital platforms (for the yacht industry), makes this team a very valuable one, because apart from having the proper technical skills to develop digital solutions, having some real-world experience can sometimes be the difference between a success and failure.

Elitium in social media

DISCLAIMER

This is not financial advice. Please do your own research before investing in cryptocurrencies or any digital asset. This blog post is done for entertainment and knowledge purpose only.