eLYQD is a marketplace platform designed to allow anyone to create an online store that will make good use of the most advanced technologies in the e-commerce field, including the option to pay for vaping products with cryptocurrencies and eLYQD tokens. Their aim is to connect e-liquid manufacturers all over the world and supply businesses with the necessary tools for launching a one-of-akind platform to the global market with minimal transaction fees and without any financial borders, intermediaries or annoying bureaucratic routine. They will unite manufacturers in order to create their own economical crypto-commerce that will take e-commerce to a new level. eLYQD is a fully decentralized e-commerce marketplace where everyone can buy and sell vaping products,and benefit from the significant advantages of the platform’s design and technical properties: privacy, freedom, and much lower costs.
eLYQD’S CONCEPT IN ECO-COMMERCE
In a nutshell, eLYQD is a gateway to an alternative global economy where users – suppliers and consumers – interact directly. The decentralized blockchain -based eLYQD eco-commerce will provide appropriate means and establish relevant rules for its participants to mutually reap the benefits of immediate and instant value exchange deals, such as sale of e-liquids or services. Enabling e-commerce platforms to thrive has been one of the main successes of the internet, by ringing a broader array of e-liquids at cheaper prices to a much larger number of potential consumers. In addition, ease of use and the consumers ‘ ability to share almost instant feedback on the e-liquids purchased are significant advantages.
Manufacturers who meet the criteria of the eLYQD eco-commerce will gain access to a powerful consumer base to offer their products at very competitive prices that will still leave room for a reasonable markup. All proceeds from a sale will go straight to the manufacturer. By employing the blockchain technology, eLYQD allows for purchasing decisions to be based on fully transparent information. eLYQD connects providers and consumers in an environment where e-liquids and services are vetted by the community consensus and their real value as opposed to the now prevalent model whereby large players with monetary means maximize product exposure to consumers so that sales are predicated on exposure rather than on actual product properties.
eLYQD is a platform created for manufacturers and consumers from all over the world. With an easy to-use online store builder, any manufacturer can create their own storefront to sell their products, while making use of the platform’s wide range of features for a minimal fee. While the consumer will avail the benefit of choosing the product of their liking at the most competitive prices. The eco-commerce platform will be built in accordance with a scalable and decentralized approach that ensures stability and sustainability in the long term. The main features of eLYQD is the use of blockchain technology , which allows to make the platform transparent, open and as safe as possible for both transaction parties, reduction of transaction costs and business costs, and simplification of the purchase process Decentralization, globalization, simplification and the integration of cryptocurrency in the project are their competitive advantages over other business solutions existing in the e-commerce markets today.
Blockchain and smart contracts provide the tools and framework to create a new generation of marketplaces where supply and demand sides can engage in trusted trading transactions, according to various business rules, without the need of a central brokerage entity. Consequently, the same way online marketplaces disrupted many traditional brick and mortar businesses, blockchain and smart contracts will give birth to a new kind of peer -to-peer marketplace that will unsettle the current ones. ELYQD will provide a number of smart contract templates that will be used to facilitate the sales mechanism. The peer-to-peer structure is the perfect fit for the decentralized nature of the ELYQD ecosystem and has the benefit of handing over the power back to the people participating in the ecosystem.
supply chain management
E-commerce companies must manage a complex supply chain of manufacturers, third-party vendors, carriers and logistics providers. A blockchain of the transaction, containing order details and negotiated fees and commissions (in the form of smart contracts) will be used to capture documents, delivery and possible return events, and drive financial settlement with fewer opportunities for dispute. The public-private nature of blockchain records means that each party can make data visible to the others. All parties have visibility into the transaction and no custom interface has to be negotiated between partners (only to/from the blockchain). The blockchain is the system of record for the entire transaction. It doesn’t merely record the transaction, it drives the whole process. This will reduce time delays, added costs and human errors that plague transactions today, automate inventory control, and streamline fulfillment processes, but errors to some extent are possible since grocery products are not digital, the blockchain records of their track is inevitably post-factum.
The payment process in e-commerce currently entails more than 10 different steps to settle a transaction and up to 15 separate fees to pay for payment gateways, thus making transaction fees range from 2% to 6%, a long route that could be cut short with blockchain use. Blockchain is the perfect tool for ecommerce to be more efficient and more trustful. Payment processing through blockchain has a significantly bigger potential for transaction high speeds and low prices, let alone all the possible variety of ways smart contracts can improve both ecommerce and payments. A tokenized ledger will provide a complete token-based system, similar to “real” money where tokens are sent and exchanged at different times and for different reasons, based on predefined rules and events.
eLYQD suppliers benefit from a new direct sales channel where the eLYQD ecosystem is not an intermediary but is rather the conductive media for the buyer and the seller. Suppliers can get immediate access to large numbers of potential buyers with virtually zero customer acquisition costs. The eLYQD ecosystem relies on consumers, and not marketing dollars, to promote products. Suppliers can reward promoters with fat currency rewards, or simply rely on the system’s native Social Capital Management System that distributes rewards to incentivize their consumers and promoters. eLYQD consumers are offered an ad-free environment where the only source of influence is reviews from trusted users and blockchain-based verifiable data on a product’s properties and sales performance. Furthermore, active consumers are predictably and fairly rewarded for a known set of behaviors that benefit others.