The Elysian Security Solution

Security is a major consideration for the Ecommerce industry, as we have still not advanced security to the point where we can properly provide protection against malicious actors obtaining customer data. As we’ve seen with recent malicious attacks and data mismanagement (Equifax, Uber, Facebook), security is an obvious priority for anyone who has duty-of-care over their clients’ data.

Through the implementation of blockchain technology, Elysian will be on the forefront of user security. Unfortunately, many companies think of user security as an afterthought – only taking steps as a method to mitigate damage after a breach as opposed to proactively preventing these events from happening.

Elysian sets itself apart in a variety of ways, and the security measures it will implement into its product will be no different. Elysian plans to build a state of the art Ecommerce platform which will revolutionize the way businesses and consumers conduct commerce online. Part of their offering will require the secure storage of consumer personal data, which will range from their personal information to their payment information (credit cards, etc.).
When a company is under the obligation to store such sensitive data, they must make sure that every aspect of their network is protected against malicious actors. To do so, Elysian will employ a Proof-of-Authority consensus mechanism combined with a private Ethereum sidechain (merged with an encrypted atomic swap protocol) to ensure that user data is accessible for the right reasons, but securely stored - out of the reach of thieves and hackers.

Proof-of-Authority will ensure that all transactions on the chain are verified by notarized and documented individuals (removing anonymity from key stakeholders in the network). Combined with a private side chain, all information will be secure and invisible from anyone except the individuals who need to see it. This access will be safeguarded by the private chain.

By combining these two factors, Elysian will set a higher standard for Ecommerce security, and will also showcase the practical application of blockchain technologies. Elysian will outclass not only individuals who compete in their market, but also highlight the new industry standard for security requirements across multiple sectors of business.