|Total Supply:||(303,000,000 EEE)|
What Is Elementh?
The elementh platform aims to offer a solution using blockchain technology to the e-commerce business. As a system, it wants to use blockchain to register goods ownership while making use of smart contracts to sell them. By doing this, they believe business growth will be highly optimized.
Asides using blockchain to register goods ownership, elementh will also create several applications that are both decentralized and centralized. These applications that perform specific purposes will be developed by third parties to be used by e-commerce businesses.
A system of goods coupled with a system of tokens will be used for the payment of goods and services. The use of a decentralized token will enable ease of transaction when using the system for the transfer of goods online.
Marketing of products through third-party applications will help company’s products be easily found online. Customers have the luxury of searching for a particular product through the service app and sell it off to someone else after they are tired of using it.
The project team is made up of 17 members, with three founders that have worked together for many years. Sergey, Dmitriy, and Vitaliy have extensive experience in the field of e-commerce. Apart from being the founder of Miix, they also have a platform where small-horse retailers and other product shares can be sold.
How Elementh works
The primary goal of the elementh project is to create an e-commerce market that is efficient, reliable, and secure.
- Blockchain technology will be used to organize the existence and registration of goods, and also facilitate the collaboration between buyers and sellers. As a customer, you are able to pay through the use of smart contracts while also getting a refund if your goods fail to arrive or delivered to you. The blockchain will be in charge of tracking the product delivery or not.
- The platform also verifies the originality of goods through the use of blockchain technology. Users would be able to use the ethereum based blockchain to verify that a product is from a particular manufacturer. Apart from blockchain detecting the authenticity of goods, it also tracks the location and movement.
- Availability of third-party applications offering services that would cost less, thereby assisting in better transactions.
Benefits of Elementh to investors
- Presence of a commodity system that can be used for tracking movement of an item through the use of a variety of applications. Tracking is done from the date of establishment to the current owner, also used in detecting counterfeit goods and tracing the original number of goods.
- There is a room for investors, sellers, and distributors to have their own data formats and goods catalog. Searching for a good on the internet will give a number of options and companies with specific items and different names.
- The use of UPC, GTIN, MPN, or ISBN data may be wrong, this can lead to inaccurate product classification. Successful implementation of the product group cannot be guaranteed. It is not impossible to see stores and product providers have different codes, characteristics, names, and brands for a product.
- There is a need for a clear and accurate solution that involves the formation of a unified catalog that allows users view products they are interested in on a retail card. This is most beneficial to brokers.
Applications of Elementh
- Decentralized market
With the presence of a blockchain, markets are allowed to use existing goods from sellers without the creation of new product. Through product data, counterfeit products will be eradicated from the market. Finding products with low prices will also be possible with the use of a unified card, and the ability to make payments with cryptocurrency.
- Goods tracking
As the future of e-commerce, Element blockchain will allow the tracking of the movement of goods, through the manufacturer-distribution chain, as well as the seller, volume of products and direct orders.
- Easy searching of goods by location
The seller information already stored in the Elementh blockchain will allow users to search for shopping locations that are most convenient for them.
- Message sending
If there is a need to contact any of the participants in a transaction, you can send messages to them. You can set up bidding, exchange systems, and purchase conditions.
- Ability to design house archives
This allows users to create a referral program for any vendor in the system, after getting all the data needed to open a shop.
- Bank Access
All users on the system can have access to data about transactions done that will allow for immediate recording to the seller, and facilitate the building of credit systems and overdraft by credit institutions.
- Different use
Any service provider can use the element blockchain for information storage and tracking. Examples of such providers are hotel and airline business, businesses that use coupons and vouchers.
- Search specific
The occurrence of counterfeit goods at any stage of transfer of goods ownership can be tracked using the data in the supply chain.
Two types of applications are built on the platform. The first is a financial application that gives users the opportunity of participation in both online and offline sales of products and contents using cash contracts. The use of token built on elementh software will enhance these transactions. The second product is a non-financial application that is used for the detection of counterfeit goods or supply chain. Companies that can use their products are;
- Service provider
ICO details and token distribution
The use of the element blockchain will be through its (EEE) token. This will be used for two purposes, to provide liquidity that ensures the exchange of assets, as well as to make payment for transactions. Based on the ethereum platform, the price of 1EEE will be equivalent to 0.0001 ETH. Total tokens of 303 million are to be distributed with a hard
cap of 1,500 ETH for pre-sale and 30,000 ETH for ICO. 72 percent of the tokens will go to investors, while the remaining percentage will go to partners and consultants. Pre-sale starts from 1st of January 2018, and ends on the 31st of January. ICO will commence on the 1st of March and end on the 31st of March 2018.