Eligma, an AI-driven Blockchain Platform That is About to Change the Online Shopping Experience

March 2nd, 2018 – Eligma, a cognitive commerce platform, will be connecting existing e-commerces and second-hand marketplaces into a one-point-stop for users. By harnessing AI and blockchain technology, Eligma is changing the way users discover, purchase, track and resell items online. To provide a new simplified user experience, a Slovenian-based company is set to launch its crowd sale on April 17 with a hard cap of $24 million.

Eligma was born as a response to problems identified in traditional retail and especially e-commerce, which has exploded in the recent decade. The project is entering a market, in which sales reached 2.3 trillion U.S. dollars in 2017. It aims to offer a set of previously unanticipated solutions to discover, purchase, track and resell items. This is now viable due to the development of artificial intelligence and blockchain technology.

“The value of Eligma is in its ability to give people the one thing they can never buy – time. It keeps track of our purchases and gives us a better overview of what we possess. It calculates the value of what we own and predicts when it`s the best time for us to sell. That is how Eligma is turning every household into a business,” explains CEO and founder, Dejan Roljič.

Eligma’s goal is to offer a comprehensive set of solutions, consisting of discovery, inventory and loyalty pillars. Using artificial intelligence, Eligma`s engine algorithm will process millions of data points from numerous online stores to compare product specifications and characteristics in order to find the product with the exact specifications users are looking for.

To save additional time and hustle, Eligma will introduce a unified shopping account, meaning that a single shopping cart and checkout process will suffice to complete purchases in multiple online stores at once, whereas the platform`s cryptocurrency payment gateway will enable users to pay with cryptocurrencies even if the online stores don’t support them yet.

With the inventory feature, users will be able to see the AI-predicted current and future item value and then decide when to sell those items. That is how every household will become a business. Eligma will offer various possibilities of using its ELI token for activities performed on the platform. Users will be rewarded for using the token through a universal loyalty system. It will consolidate merchants in an integrated open-loop universal loyalty system and provide a simple and convenient user interface. There will be no need to register with a standalone loyalty program of each merchant.

The idea of solving the problem of the abundance of products found online has brought together some of the most prominent entrepreneurs: “We are partnering with important individuals and organizations to have access to an array of knowledge, expertise and experience in commerce and technology. Amongst the advisers are Andy Baynes from Nest-Google-Alphabet and Peter Moricz from ChainX, both promising a global reach and impeccable delivery,” adds Dejan Roljič.

The Eligma company was founded in 2017 by three experienced Slovenian businessmen – Dejan Roljič, founder of ABC Accelerator, Matej Gregorčič, founder and CEO of Viberate, and Jože Mermal, CEO and chairman of BTC d.d. The development process of the platform is additionally reinforced with strategic partners, such as Spartan Solutions and Netis, both leading cryptocurrency and blockchain development companies in Europe.

To develop a technological solution for resolving the drawbacks of commerce and e-commerce and simplify the shopping experience, Eligma is raising funds through a public crowdsale, starting on April 17th. Early contributors will be able to join the presale of the ELI token, starting on March 20th. To learn more about the AI-driven blockchain platform that is about to transform online shopping experience, visit www.eligma.io.

Contact

For more information about Eligma and its development process, please contact Sara Draskovic at [email protected]

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Is The World Not Ready for the Power of Blockchain Yet?

The blockchain technology undoubtedly has a huge potential for companies specializing in various fields and areas. On a daily basis, we witness enterprises all over the world incorporate blockchain for security, cross-border payments, storing data and many other purposes.

Blockchain is used in the healthcare sector, studied in universities and even used to combat crimes against humanity, like child labor and drug trafficking. However, if we take a closer look at the statistics, we will be surprised to find out that most businesses are not yet at the stage of development to start using blockchain.

According to the research made by the software company Globant, among the participants of the survey, less than a half (46%) are actually ready to apply the blockchain technology right away.

Our report reveals organizations are eager to invest in blockchain solutions to improve their internal operations. Enthusiasm toward blockchain has yet to translate into readiness, however,” is mentioned in the report.

As for the statistical results of the survey, here it is worth pointing out the following bullet points:

  • 64% of the respondents are willing to incorporate blockchain and invest into blockchain solutions, but have not undertaken anything specific yet;
  • 61% are already actively researching the technology and the ways of applying it for their businesses;
  • Only 28% have selected their first or subsequent blockchain vendor.

Out of the respondents whose businesses have already started researching blockchain:

  • 42% are in the discovery phase;
  • 30% are still unsure of which blockchain provider to choose;
  • 19% have chosen their first vendor;
  • 9% have already moved on to another provider.

Thus, we can clearly see that although the interest in blockchain is obviously present and growing with every single day, however, it is still quite far from being fully incorporated by the businesses worldwide.

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Chinese Fudan University Opens Up a Research Center Devoted to Blockchain

One of the oldest and most prestigious educational establishments in China, Fudan University, located in Shanghai, is moving with the times. Just like their colleagues from universities in Tokyo, Stanford and other cities around the world, Fudan scientists decided to try out the potential of the blockchain technology.

The university partnered up with a couple major companies in Shanghai, one of them being Shanghai Zhongren Information Technology Co., Ltd, and launched Shanghai Blockchain Engineering Technology Research Center.

The new blockchain hub will function not only to benefit Fudan University, but also for the sake of the whole city.

Professor Lu Haibin, the newly appointed Director of the Blockchain Research Center of Fudan University, introduced it during the official opening:

The Blockchain Research Center will carry out basic research, demonstration of possible application and training talented people with the help of the blockchain technology, strengthen the combination of production, study and research, and serve Shanghai’s economic development.

Frankly speaking, this is not the first time that a Chinese higher educational establishment opened up a similar center. The fintech research department of the Tsinghua University in Beijing cooperated with the blockchain payment solution producer Ripple and established a special scholarship for gifted students in this area called the Blockchain Technology Research Scholarship Program.

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The Recent Filing of Apple to SEC Suggests Its Interest in the Blockchain Technology

It has been detected that one of the latest listing of Apple submitted to the Securities and Exchange Commission called “Conflict Minerals Report” mentioned the blockchain technology as one of the methods to deal with the issue stated there.

The issue itself regarded the mining, production and shipment of minerals used to produce smartphones and other electronic devices.

We have covered the topic earlier and informed you about the company Ford that cooperated with IBM and other giants in order to combat child labor in Africa. Their primary goal was to focus on cobalt mines in Congo, where minors were and maybe still are working illegally.

Meanwhile, Apple has some big plans on that cobalt, since this mineral is crucial for the company to manufacture their devices. However, using cobalt from the infamous mines in Congo would mean direct support of the human rights abuse.

Many experts have repeatedly pointed out that the supply chains of Apple were involved in multiple scandals involving the violation of human basic rights. Thus, the company had to make sure it got rid of the “dirty” reputation.

Apple is deeply committed to upholding human rights across its global network of suppliers that support the manufacturing of its mobile communication and media devices, personal computers, and related accessories. Apple works to safeguard the well-being of people involved in its supply chain and to protect the places where materials are sourced,” the filing reads.

Conflict Minerals Report was mainly about the work ethics of Apple and the possible ways to ensure the legitimacy of supply chains, using the blockchain technology, as well as educating other businesses how to use blockchain for security purposes.

Thus, we might draw a conclusion that Apple is getting closer to using the blockchain technology, even though it is indirect so far. Bigger step towards using the potential of blockchain might follow soon.

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A Major Japanese Bank Is Developing a Blockchain-Based Payment Network Due in 2020

Mitsubishi UFJ Financial Group, Inc. (MUFG) is on the most prominent financial institutions in Japan, moreover, it is the world’s fifth largest bank in the world. Located in Tokyo, MUFG has branches in 50 countries all over the globe and over 150 thousand employees.

The financial group provides services in the various fields like leasing, asset management, commercial banking, credit cards, securities and others. It also constantly collaborates with the largest banking establishments in America, Europe and Asia.

MUFG and blockchain

Following the example of its competitors and partners, Mitsubishi UFJ Financial Group decided to involve innovative technologies in order to upgrade and advance its payment systems.

According to the official press release of the bank, it is partnering up with the Massachusetts-based company Akamai Technologies, which is a leading provider of content delivery and site accelerating services.

MUFG and Akamai Technologies, Inc. (“Akamai”) announced today that they have agreed to strengthen their strategic alliance towards the full-scale launch of a new payment network business and establishment of a joint venture, Global Open Network, Inc.,” is mentioned in the press release.

The main purpose of the collaboration, the development of a blockchain network for payments, is planned to be launched in 2020.

As stated by the bank representatives, they want to experiment with “diverse payment schemes” which will allow to expand their range of services.

We remind you that another global financial establishment, Abu Dhabi Commercial Bank, is also working on implementing cutting-edge technologies and launched a financial management app.

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Report: Blockchain Investments Cannot Overcome Fintech Funding

European blockchain companies set a record in 2018, however, they are unable to overcome funding that comes to financial technology companies.

Blockchain boom in 2018

At the end of 2017, the rate of Bitcoin skyrocketed to incredible price of $19,000. As the first cryptocurrency began gaining popularity, people started to wonder about the technology that stayed behind. After that people understood that blockchain can be used not only in crypto, but also in other spheres of life.

Some companies began to create their own blockchain and implement it into financial sector, political sector, etc. For example, Western Union supports cryptocurrency and blockchain, and it seeks the ways of their implementation; LG Uplus released a blockchain cross-border payment system.

After the cryptocurrency prices collapsed, the blockchain technology remains to be quite popular topic on different IT conferences and summits.

Blockchain investments cannot overcome fintech funding

According to Innovate Finance’s ‘2018 FinTech VC Investment Landscape‘ report, blockchain and cryptocurrency industry in Europe has witnessed a series of significant deals, but notably just four deals amounted to over $300 million. These deals include such projects, as Paxos (Bankchain), Dfinity, SEBA Crypto, Bitfury. They raised from $65 million to $103 million in different periods of the year.

Analysis shows that fintech companies are much more popular among investors than blockchain. European challenger banks Revolut and N26 alone raised $461 million across 7 deals. They closely followed by personal finance and wealth management ($333.61 million), and alternative lending and finance ($306.64 million) industries.

Fintech’s big picture

If we take the investments of all financial companies all over the world, we will see that they raised $36.6 billion from venture capital investors.

The leader in fintech investments is China, Chinese company Ant Financial set a record for  both fintech and venture capital, raising $14 billion. In overall, China led with $18.9 billion invested across 90 deals.

Next place is taken by the United States; it has raised $10.6 billion across 1,042 deals. The United Kingdom followed on in third place with $1.7 billion invested across 261 deals.

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CryptoKitties Is Trying to Attract Users by Partnering with Gods Unchained

A once revolutionary development, undoubtedly, the cutest game on blockchain ever, CryptoKitties is not doing quite well, as the hype around it went down a bit. As we can see from the chart, the app cannot boast of a bunch of active users per day.

Source: DappRadar

Thus, it is quite obvious that the developers of CryptoKitties are taking measures to fix the situation. They decided to cooperate with Gods Unchained, a card game, also developed on the Ethereum blockchain. The joint project is supposed to boost up the popularity of both games.

According to the press release on the Medium account of Fuel Games, the developers of Gods Unchained:

For the next two weeks only, players who own a CryptoKitty will be able to purchase a limited edition card pack (Codename: “The Cat in the Pack”), which will grant the player a unique and tradable talisman that represents their Kitty as a statue in Gods Unchained, in addition to a rare Genesis pack.”

Correspondingly, three Kitties are going to be themed after the characters of Gods Unchained.

We remind you:

Will the Developers of CryptoKitties Release a New App Soon?

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