The ecommerce industry seems to be waxing stronger and stronger as the years are going by. This implies that businesses and customers are beginning to embrace the idea of using it to carry out transactions. For instance; by the year 2021, the number of buyers in the digital marketing world is expected to reach 2billion. There is also the expectation that ecommerce will contribute over 15% of sales being recorded in the global retail market. All of these are evidenced on the fact that the growth rate in the ecommerce industry on annual basis is about 9.9%.
The Challenges Are Mounting
Given all the developments being experienced in the ecommerce industry as stated above, there is need for an upgrade in its current technology. This is to ensure that the present challenges are tackled. The need for upgrade has become necessary in other for the industry not to be overwhelmed by the recent technological demands.
There are lots of problems and challenges facing the ecommerce industry and threatening its relevance. If these issues aren’t resolved, there is every chance that both businesses and their customers are going to lose confidence in the system with time. Some major issues that are affecting this industry are:
Poor cyber security: This is a major problem which has plagued the progress of ecommerce industry over the years. The platform for payment and recording of data is one that has always been prone to easy manipulation by fraudsters and hackers. This has affected the level of trust that would have existed between businesses and their customers. Millions of Americans fall victims to cyber theft annually.
Lack of various transaction options: With the growth being experienced by the ecommerce industry at the moment, there ought to be various options through which transactions can be facilitated between businesses and customers. This hasn’t been the case as websites and companies mostly have to rely on the traditional methods of processing payments which is the credit cards.
Inefficiency and lack of effectiveness: The growth of this industry has been very attractive to businesses all over the world. That is why they are drawing up programs that will enable them take part in it. For instance, a brand such as Woocommerce has over 350,000 digital stores. However, the platform being presently used doesn’t offer too much room where these businesses will improve. It is an outdated technology that stifles their progress.
The Latest Ecommerce Technology Is Here
Given all of the challenges faced by the ecommerce industry, there has been need for an innovation that will address them to ensure it remains 100% competitive. The good news is that with the ecommerce platform provided by Elysian, there is no doubt that its long term existence has become a reality. This platform isn’t only innovative and flexible but has been able to ensure that both customers and businesses are carried along.
Elysian has ensured a technological overhaul of the ecommerce industry through 4 major ways which are the use of Smart Contracts, Blockchain Technology, Virtual Reality and Artificial Intelligence. It is worth mentioning that the Elysian AI being introduced seems to be far more efficient than the ones offered by brands such as Amazon, Microsoft, and Apple. For instance, its responses to the questions of users aren’t just timely but also very accurate.
Elysian has been able to bring back that high level of trust which was lacking between businesses and their respective customers through its blockchain technology. This has been achieved via a system which promotes very high level of security. For instance, the data of customers are 100% protected through an algorithm known as proof of authority. This secures their details on credit cards and ensures they aren’t accessible by unauthorized parties.
It has offered businesses the opportunity to scale their operations to whatever level that they want. For example, through its blockchain technology, users will be able to build as well as launch their stores online with the click of a button. These stores will offer the highest level of security and convenience for customers.
There is also the prospect of ensuring that better user experience is offered to customers. This is because rather than having to depend on the use of traditional methods of payment which usually delay, transactions will now be faster. The former methods of processing usually take time for confirmation to be completed. It is even worse when there are too many people using such a system. However, all of these have changed with the advent of the blockchain technology.
Through the proof – of – authority being offered by Elysian, there has been an upgrade from the ineffective Proof – of – Work and Proof-of-Stake. This new technology has been able to provide a means through which maximum security is offered to users. A private Blockchain is provided whereby encrypted credit card details are being stored.
Token System
Elysian has been able to redefine what a complete token system should entail. This is through the introduction of ELYCOIN which is the fuel that powers the Elysian system. That is to say, it will act as the means through which transactions are going to be facilitated between various parties.
Based on the above, it can be seen that the major aim of Elysian is to ensure that the long term objectives of the ecommerce industry is sustained through a technology that is trusted and efficient in meeting the needs of businesses and customers. It has definitely created a platform whereby the technology in the ecommerce industry is upgraded to promote high level of security for customers and high profit earning potentials for businesses.
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TOKEN DETAILS
TOKEN SALE: ENDED
TICKER: ELY
TOKEN TYPE: ERC20
TOTAL TOKENS: 1,000,000,000
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A single article isn't enough to cover everything about this innovative e-commerce platform called Elysian. However, if you desire to know more about it , feel free to contact any one of the company representatives through any of the following links listed below.
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