Blockchain technology is sweeping everyone off their feet, literally, this technology is creating a dynamic life for every individual. Just a few hours back, I came across a very interesting project "ELITIUM ", that is building an international platform using blockchain technology to help consumers in the luxury industry to purchase goods and services using cryptocurrency.
The luxury business has been one of the fastest growing industries since the late 1990s. Although some times it is difficult to have a clear idea of what “luxury” is and what the dynamics of the industry are. I personally describe this business as a high-end market segment that provides an experience which goes beyond the product or service. Some of these market segments include; private- jets, Yachts, luxury vehicles, luxury hotels and many more. However, despite this industry being elite, there are loose ends that bring in inefficient processes, and the good news is all these unresolved issues can be fixed with blockchain technology.
The luxury market size.
Basics of Elitium.
Elitium was born in 2017 by Raulo Milhado (a managing partner at boatsters), with the intention of delivering a new customer experience in the luxury industry by offering consumers an all-inclusive luxury platform with access to a wide range of goods and services. Elitium is among the few companies that have started out without an ICO, instead, they are looking at delivering a long- term value and building a new industry standard for blockchain Projects. This project is built on EOS.IO which is one of the powerful infrastructures for decentralized applications and the project believes the EOS.IO platform is able to provide many benefits for Elitium.
What does Elitium have in store for the Luxury Industry?
An international luxury platform for luxury brands.
The luxury sector keeps growing each day and the consumers in this sector are faced with a highly dispersed landscape of different sources for purchasing goods and services. Elitium's goal is to have a platform in the form of a lifestyle app that is compatible with Android, IOS, a smart TV and Web that will connect luxury brands to clients through the Elitium's own native currency (EUM). Amazingly, the clients will also be able to transact, acquire membership and also access personal concierge services in a safe environ.Improved operational efficiency with smart contracts.
Apparently, the majority of the luxury brands face a high degree of manual processing of contracts and this is mainly in the yacht rental business. The Elitium team is leveraging smart contracts which are also known as self-executing contracts to self-enforce and speed up operations in this sector.A use-case for cryptocurrencies.
Cryptocurrency is the future of Money so it is inevitable to have it integrated into all types of businesses. To differ from boatsters that accepts over 55 cryptocurrencies, Elitium has developed a proprietary cryptocurrency "EUM" where the ecosystem of the platform will depend on this native coin. In addition, the native currency will provide opportunities for implementation of additional services such as loyalty programs, instant conversion to/from fiat and insurance services. Literally, The combination of the {Elitium Luxury Lifestyle App x EUM} will be a winning formula.
Is the Elitium goal within the bounds of possibility?
Absolutely! with blockchain technology all developments are feasible. Elitium is not only depending on blockchain but it is also incorporating Artificial Intelligence to deliver the best user experience. The team is stellar with impeccable experience in cryptography, financial and legal advising, social-media and blockchain technology. The CTO of Elitium Jean-Pierre is the blockchain guru and a technical specialist with 20 years’ experience in IT, on top of that, Collin Nicolaas (CFO) is also a financial wizard who has spent a great deal of time in career building and scaling international businesses. In a nutshell, this project has a very good team that can push it forward I think it is realistic.
Do you want to stay updated?
Read the Whitepaper to get more information.
Latest News: https://www.elitium.io/eum-lists-on-stex/
Follow the team on:
Disclaimer
The information contained within this post shall not be taken as financial advice. I am not a financial advisor and none of your investment decisions should be carried out based on any information presented here. You can lose all of your money by investing. The information presented in this article is for educational and entertainment purposes only.
Thank you for reading.