Welcome to CryptoNewsICO,
on this occasion I will discuss Elysian Project. Why am I writing about the Elysian
Project?
Because I am sure you
will need this project in your life very much, this project is very useful for
us all around the world.
Yes please, you guys on
the Elysian project.
ELYSIAN
Platform
The primary function of
the Elysian platform is to revolutionize the entire Ecommerce industry by
improving security and creating a new, unique user experience. Elysian will be
the first Ecommerce platform to combine two vital aspects that are necessary for
the progression of the industry - integrating blockchain to store all customer
data securely and using technological advancements such as Artificial
Intelligence and Virtual Reality to help differentiate Elysian from competition
in terms of user experience.
The platform will be
scalable to adapt to necessary future implementations.
Clients will have the
ability to use the Elysian platform for their own businesses, providing an
upgraded level of functionality. The platform will act as a foundation for other
future Ecommerce businesses that will enter the space. Essentially it will act
as an intermediary between our clients and their target consumer demographic.
Elysian will also give
third-party agencies the ability to build on top of the Elysian platform to
host their current clients’ platforms on our platform. This will ultimately
strengthen the Elysian ecosystem and provide immediate access to client bases
of other Ecommerce platforms, giving them an incentive to switch to the Elysian
ecosystem.
The Elysian ecosystem
will serve as the gateway to a more efficient future, powered by the
blockchain. Continued sustainable growth is only achievable if the current
status quo improves. The current industry standard for security and user
experience will slowly become obsolete. This process has already started.
Consumers and businesses will adapt to the advancements of technology to the
point that the antiquated technology that currently allows the industry to
thrive will practically become extinct. Elysian is positioned perfectly to be
one of the very first in the market at the ground floor of the oncoming
technological revolution. First mover’s advantage plays a crucial role in the
success for any business in any market. The ability to set the industry standard
for a certain service allows companies to reach out to a large population and
gain a significant competitive edge.
Security
Problem
One of the more pressing
concerns in the Ecommerce industry is the lack of trustworthy cyber security,
primarily in the form of identity theft. Thieves can use the information
they’ve acquired to fraudulently perform tasks in your name, such as filing
taxes, purchasing items in your name, and credit applications. Moreover,
victims of identity theft are usually left oblivious to the situation until a
further date, when they receive some sort of abnormal occurrence, usually in
the form of a financial consequence. In order for the market to continue to
experience sustainable growth, the level of trust between consumers and
businesses must improve, and this starts with security. In 2017, a data breach
at Equifax left the personal information of 143 million American consumers
vulnerable for hackers to access.
The breach lasted from
mid-May through July. The hackers accessed people’s names, Social Security
numbers, birth dates, addresses and, in some instances, driver’s license
numbers. ¹⁴ As a result of the data breach at Equifax, and Target a few years
back, an element of skepticism has emerged among consumers regarding the safety
of their personal information. It is not surprising that breaches in online
security are extremely detrimental to the credibility of the business. Hackers
generally will target companies in order of their vulnerability, starting with
the ones that are most vulnerable, and also businesses with a client base that
is least likely to combat cyber attacks. These attacks ultimately result in
short-term decreased website traffic and revenue until the problem is solved.
Thus, we can infer that the following statement is true:
The level of cyber
security is positively correlated to the level of consumer trust.
Despite the fact that the
Ecommerce industry continues to expand, some of the growth is stunted due to
these issues. It is a safe assumption that as time passes, more consumers will
be depending on technology to purchase goods and store personal information.
Developing a more secure space, combined with an increased level of trust
between consumers and businesses, will allow the industry to flourish at a rate
that could potentially become hyperbolic as we move further into the future.
Security
Solution
The emergence of
blockchain technology is beginning to revolutionize the internet. However,
blockchain itself is still in its infancy. Consequently, many businesses in the
Ecommerce industry are still unaware of blockchain technology or are content
with the current status quo in terms of cybersecurity. The alarming number of
data breaches are evidence of this. The ability to store customer data on the
blockchain provides a revolutionary new level of security that was nonexistent
in years past. This is a prime example of how the creation of blockchain in its
purest form was meant to be used for the real-world application. This immutable
ledger serves as the foundation for transactions and storing data that cannot
be tampered with. Decentralization prevents the data from being on one single
server and openly visible to hackers. This has an immediate effect on overall
data security.
The use of smart
contracts also provides another element of trust for consumers. The contract
that is coded by the developer will store all aspects of the transaction to
ensure that the process goes smoothly. The smart contract will be audited to
guarantee proper coding. The audit further strengthens the security and
legitimacy of the smart contract. The principle is to provide a contract that
is not only more secure, but also is set in stone to prevent manipulation and
guarantee that a transaction is processed in a proper manner.
What
is Elysian
Elysian is a
decentralized Ecommerce platform to build websites on the blockchain with
improved security and revolutionary user experience. Customer data storage
becomes more secure, and users are able to actively engage in platform or
website navigation through the implementation of aesthetically pleasing
technological advancements such as Artificial Intelligence and Virtual Reality.
The platform serves as an intermediary between Ecommerce businesses, which
build their websites on our platform, and their targeted demographic of
consumers.
Our LeaderShip Team
Okay now we are at the
end of the article, my suggestion please you visit the official website,
whitepaper, and their official media below to get more information. Thank you
for visiting my website, see you later.
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