In 2016 global retail e-commerce sales amounted to $1.86 trillion. The habit of buying products online has exploded in the recent years. There are two main reasons for that: the expansion of internet access (54,4% of the world population is using internet) and growing convenience of online shopping.

The second-hand online market has its own specifics, but it’s also growing rapidly. Annual net revenue of eBay, currently the largest used goods marketplace, has grown by 7% in 2017 and has reached almost $10 billion.

Nevertheless, there are some problems of contemporary online shopping, which are obvious both for sellers and buyers:

  • Lack of a personalized approach;
  • Vast number of individual loyalty programs;
  • Incomplete or inaccurate product descriptions;
  • Online product search and shopping are still time consuming;
  • Users disclose personal data to every store, which also takes a lot of time and leads to privacy problems;
  • Second-hand online market lacks the necessary security level;
  • Users, who want to sell something, do not have an overview of what they own and how much their belongings are worth.

AI-driven and blockchain-based platform Eligma is going to change this situation and become a personal commerce agent for each online shopper.

The main goal of the Eligma project is to optimize the online shopping experience and to offer a set of completely new solutions to discover, purchase, track and resell items. Every household will be transformed into a business where necessary items are bought quickly and unnecessary ones quickly sold on the second-hand market. Users will be able to manage any online store account through the platform’s unified shopping account. A single shopping cart and checkout process will suffice to complete purchases in multiple online stores at once.  

At the core of the Eligma platform is an AI-driven module that will help users discover the best deals for desired products. It will use several sources of user data to achieve the optimum results: preferences set in the profile, current inventory, location etc. Eligma will also suggest alternative products, for which the AI predicts a better-fit probability. Users will be notified what the best time to sell the product is. AI will automatically generate and publish listings in selected second-hand online stores.

Eligma will create a blockchain-tracked Digital Item Profile (DIP) for every item purchased through the platform. Every DIP will be automatically written into the user’s inventory. The user will also be able to manually add elsewhere purchased items.

Eligma’s cryptocurrency payment gateway will enable users to pay with cryptocurrencies, even if the online store does not support them yet. Moreover, the platform will allow c2c transactions. To make them safer, Eligma will offer two solutions to both trading parties: escrow service and decentralized sale on the blockchain with a smart contract as a guarantee.

Eligma will consolidate retailers in an integrated universal loyalty system. The value will be transferred into ELI tokens, which users will be able to store in their wallets. Although the majority of platform features will be free, some of them will only be unlocked with ELI tokens. Merchants will have their accounts on the platform and the opportunity to reward their loyal customers. At the start, Eligma’s revenues will be made through a commission-based model. Digital contracts will be signed with online stores and marketplaces.

The Eligma online platform is already being developed and is currently operating in test mode. In April 2018 Eligma’s team is going to launch the beta-version in partnership with the BTC City (Ljubljana, Slovenia), which unites more than 10 000 brands, 3 000 companies, 450 stores, 70 bars and restaurants, and annually hosts over 21 million visitors. The whole pilot project will start operating in 2019 with at least 30% retail store coverage in the area. Global expansion will begin in 2022.

The Eligma token (ELI) is a fully ERC-20 compliant Ethereum utility token. Total number of created tokens will be 500 000 000 ELI.

Public presale will last from 20 March till 10 April. Phase bonus: 15% of additional ELI tokens.

Public crowdsale will begin at 17 April and last till 8 May. Phase bonus will start from 8% for the first 20 million ELI and then gradually diminish to 0%.

Soft cap − $3 million, hard cap − $24 million ($16 million during the presale and $8 million during the public crowdsale in equivalent Ethereum contributions).

60% of tokens will be sold during the crowdsale, 19% go to Eligma team, 4% to future partners, 5% to advisors. 12% will be spent on community and user growth.

Funds will be divided into three groups: first phase (development) − $8 million, second phase (scaling) − $8 million and third phase (marketing) – also $8 million.

 

More details: https://www.eligma.io/