A Slovenian-based company, which is set to launch its crowd sale on April 17th with a hard cap of $24 million, is developing a cognitive commerce platform called Eligma. Eligma will become your personal commerce agent, connecting existing e-commerces and second-hand marketplaces. By harnessing AI and blockchain technology, Eligma will change the way users discover, purchase, track and resell items online.
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. Its promise is simple – to simplify online shopping and management of your personal inventory. It is on a mission to save you time.
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.
Discovery
Users will simply enter the product they wish to find into the search field and Eligma’s AI will search through all the joined online stores to find the best offer, taking into account preferences set, user behaviour data, location, etc. It will also compare the price vs. quality ratio and search for alternative products that might be a better fit for them, so they might be able to buy a similar TV for a lower price or a better TV for the same price. Eligma will introduce a unified shopping account, meaning everyone using Eligma will be able to buy anything in any store, registered with the Eligma platform, with one account. By utilizing Eligma’s cryptocurrency payment gateway, they will also be able to decide and pay with cryptocurrencies, even if the store will not be supporting them yet.
Inventory
After every purchase, Eligma will introduce blockchain-tracked digital item profiles or DIPs. They will contain several records and references to digital documents, such as proof of purchase, original item profile and description, repairs, warranties, resells and other trackable events. These records will be stored in a time sequence and include timestamps and hash of the previous record, forming a small blockchain ledger inside each DIP. They will be signed with the creator’s private key for verifying purposes. DIPs will be added to user’s inventory, meaning they will soon have a list of all the items they’ve bought. Users will also be able to add items bought outside Eligma and even those bought in offline stores. Our AI module will then be able to predict the current item value and even track it through time. In this way, it will be able to tell their users when the best time to sell their items is. They will be able to do that with a click of a button, as their item offer will be listed on all the chosen second-hand stores simultaneously. To make sure to avoid shady buyers, Eligma will allow the users to use additional safety options, for example, its escrow service, where the buyer’s payment will be held by Eligma until they verify the item and its condition, or decentralized sales on a blockchain, utilizing smart contracts.
Loyalty
As users now browse through different online stores, they can notice a lot of discounted offers. There is a catch though. Most of them require accumulated loyalty points, which of course most occasional users do not have.
Eligma will introduce a unified loyalty program that will use its ELI crypto tokens instead of points or loyalty cards. Consumers will be able to earn ELI tokens or buy them on online exchanges and redeem them at any merchant that is taking part in our program or spend them for some of the advanced platform features. Merchants will be able to reward consumers by offering cashback rewards, rewards for purchases of certain items in the past or by rewarding every purchase of an item through a certain time period. The best thing is that Eligma’s loyalty program will only be limited by the merchants’ imagination. In time, they will be able to introduce new and innovative ways of rewarding their customers.
Consumers will also be rewarded by the platform itself. They will receive ELI tokens for registering with Eligma, making purchases through the platform, entering more detailed profile information, manually adding items to their inventories, uploading receipts and referring new users and online stores.
Eligma will enable creating wishlists and performing social media actions. This will help their community to grow and Eligma will reward consumers if those wishlists and social media actions lead to direct sales.
So, there it is … The user will make a purchase of exactly what they need, gain extra money from the old one by reselling it and receive ELI tokens to spend at their next purchase anywhere … that is how Eligma will turn every household into a business.
Anyone who wishes to support the project can already apply for the project’s whitelist and join the public presale, which starts on March 20th. More information about how to contribute can be found on www.eligma.io.