The market structure has so develop that now we don't need to be physically present before a transaction can take place. This transaction include the exchange of products and services via the Internet,"e-commerce"
The e-commerce has risen so much that anything can be bought via the Internet, it could be as big as a house or as small as a spoon. This market is a large global market that pumps in trillion if dollars, and the market is increasing steadily and will continue to increase.
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There are some very large market is some continent that uses e-commerce, this include Shopify(North America, with it's headquaters in Ottawa, Canada), Amazon (Europe, with it cutting across many countries), Woocommerce (Asia),
Jumia (Africa). This market faces one major challenge which is identity theft,
the constant improvement on this market has also given rise to the increase of cyber threat leading to cyber theft where customer's identity are stolen to make purchase or a personnel's identity is compromised and used to defruad consumer, in anyways the consumer ends up paying for a product and service not purchased or received by him. This issue gives consumer thier reservation about the use of e-commerce. Apart from the issue mentioned the e-commerced market is a solid one but it needs some improvement, for all the mention example none of those businesses uses digital asset (cryptocurrency) as a medium of exchange.
The cryptocurrency market has gain alot of attention since 2009 where it was first released and has risen beyond assumption, doubt and prediction.
But the e-commerce has not yet embraced the use of cryptocurrency as a means of exchange. For purchase to be made cryptocurrency has to be converted to fiat before I can be used. This creating loophole between the cryptocurrency and the e-commerce. The conversation from digital currency to fiat has charges attached to it or the conversation from fiat to digital currency thereby costing individual more to make purchase.
The loopholes between this two market needs to be covered, or there is need for connecting this two market to ease purchase this is brought about by ELYSIAN.
ELYSIAN bring solutions to the major issues on the e-commerce these are
➡ Identity theft: Elysian uses cryptocurrency taking advantage of the block chain Network. Here the individual's details and information are encrypted and stored as blocks on the blockchain, therefore providing high level of security to the individual's information, making it difficult to steal the individual identity.
➡ Eliminates the stress of having to convert your digital asset to fiat before making purchase.
In order to achieve the incorporation of cryptocurrency to e-commerce, Elysian uses:
➡ Artificial intelligence: this help in the progression of the market
➡ Vitual Reality: this platforms provide it's users with detailed picture of items and also gives the user the opportunity to creat their own picture of items they would want to purchase. This taking e-commerce to another level.
With these innovations, Elysian system connects the cryptocurrency market and e-commerce system there taking e-commerce beyond what it is now.
A quick summary of what Elysian is about
- Its about providing security against cyber theft, especially identity theft
- Integrating fiat and cryptocurrency for the boosting of E-commerce
More information about Elysian can be gotten from.
Website: https://elycoin.io/
Whitepaper: https://elycoin.io/whitepaper/english
Telegram: https://t.me/elysian_ely
Bitcointalk: https://bitcointalk.org/index.php?topic=3333050.msg34852238#msg34852238
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