As a follow-up from the successful Elysian ICO last summer, there has been a lot going on since we last formally addressed the community. As is the case with many projects post-ICO, the most important thing to be done is to focus on development and completing roadmap goals, which is exactly what Elysian has been working on. Though our progression has been slightly behind the originally anticipated pace, we have been compensating for the addition and removal of features on all of our developmental progressions by working as productively and efficiently as possible to get these tasks completed to show the public and our community.
First, regarding the CryptoVerse platform, a majority of the basic functions are already complete, and the advanced functions, such as MetaMask integration for example, require a reasonable amount of time and focus from our development team. We do anticipate that everything that we expect the platform to house to be finished up before the core work on the Ecommerce platform formally begins because it is important that the developers can focus on one task at a time.
In addition, the Elysian team has spoken with and already confirmed a small initial client base for CryptoVerse to get things off of the ground properly and provide the needed traction. CryptoVerse is an important core part of our ecosystem but in the grand scheme of things, its capabilities in comparison to the Ecommerce platform are miniscule. Thus, our objective is to make sure that it functions at as high of a level as possible and is providing services for ICOs that no other platform provides, and in a current market where there are few ICOs, we can expect CryptoVerse to be one of the top platforms in the coming months. This will be the extent of its capabilities because this platform is relatively simple to run once everything is finalized, and the majority of the core team’s time will be needed for the largest piece of our ecosystem, the Ecommerce platform.
The mobile wallet, also an integral part of our ecosystem, is perhaps one of the most important connectors to the Ecommerce platform for transactions for goods and services, and asset transfer, to name a few examples. We envision a future where users will be able to exchange cryptocurrency for a bicycle, a bed, a blender, and much more, powered by Changelly inside the wallet. These features are not yet available however and will indeed take several more months to implement. A project with grandiose plans such as Elysian require lots of time to complete our vision because aspects such as the wallet and Ecommerce platform are complex and require precision from developers to ensure that there are no errors or vulnerabilities before they are released to the public.
Our initial phase of wallet design is complete and basic functions are currently available. In the coming months we will be unveiling this to the public with both text and screenshot updates, and we will be boarding initial users to test the wallet as well. As also previously mentioned a few months ago, we have been approved for our wallet to be present inside Apple’s App Store, which is a massive achievement that will help us drastically increase our user base. As we begin to board initial users, the basic functions will only be available at the beginning, such as sending and receiving tokens, viewing portfolio, reading blockchain-related news, and swapping from one cryptocurrency to another. Later on, once the Ecommerce platform is closer to completion, we will connect the two and begin to allow users to send tokens to and from Ecommerce business stores on our platform in order to purchase goods.
Users will be able to have functions such as saving personal addresses and addresses of contacts in their phone instead of always having to copy/paste the address every time they send to that person. Also, they will be able to hold a wide variety of tokens and track the portfolio in a wide variety of different fiat currency equivalents to the cryptocurrency value. The way things are progressing right now we expect to board initial users before the end of the year and have the wallet fully functional, barring any significant changes needed or developmental implementations. We are very excited about the wallet and we feel that this wallet will be the first of its kind in the entire world, linking the blockchain community with the massive Ecommerce industry in a convenient and innovative way.
The largest part of our ecosystem is by far the Ecommerce platform. This platform requires a special development team capable of implementing both virtual reality and artificial intelligence. These features are both costly and take lots of time to implement, and we do expect our community to understand that this will take some time. However, these features do not need to be present in the very beginning. Currently we are at the foundation of the construction of the platform, putting all preliminary measures in place, such as the development team, initial costs, design, UI/UX, and more. The beta platform will be fully functional but much more simple than the completed platform because the initial objective will be to board clients and have them test the platform and give feedback and approve its level of functionality.
The good news is that because of the core team’s Ecommerce past, we already have several clients lined up as a 100% guarantee to use the platform, which is huge for early traction and adoption. The timeline that we see right now will require probably 12 months or more to get everything up and running, but keep in mind that this is the most important part of our puzzle and will require lots of time and effort. But given the fact that we already have confirmed clients and we know for a fact that Ecommerce is thriving and will continue to, we are confident that unlike some platforms, we will be able to generate revenue from the second that it’s up and running publicly.
So once these pieces are complete, you will start to see everything come together into one huge ecosystem which is our master plan. Realistically we believe that all of the pieces mentioned in this article including the early Ecommerce platform without the AI/VR functions will be up and running by the end of 2020, and this includes a client base of Ecommerce businesses that are using the platform and earning money. This means that Elysian will have a revenue generating product very soon in an industry where most projects rely on speculative token investment to survive.
Our vision is completely different from every project in the blockchain space. We have no desire to stay within the boundaries of just this space. Elysian aims to use blockchain technology along with Ecommerce to allow users and consumers to do things that have never been done before up to this point, such as trading cryptocurrency for goods within a cryptocurrency wallet, and also tracking the shipping and getting details of the item also within that same wallet. In addition, we want shoppers to feel that their information, purchase history, and data is stored securely over a distributed network to prevent data breaches that we’ve seen occur with massive companies such as Target, Equifax, and Saks Fifth Avenue. So the platform combines these elements, along with a futuristic user experience, to make sure that consumers understand that what they see is always what they will get, without the hassle of poor item descriptions or pictures, bad reviews, and drop shipping.
As popular as the mainstream companies and platforms are currently, they are becoming antiquated, and as technology progresses, the original Ecommerce giants will be in the future what we think of now when we talk about dial-up internet; innovative during its time but slowly faded out as other better things came along.
Lastly, we would like to address exchanges. Elysian understands that its ICO participants are concerned about the current state of the utility token. We are indeed happy to announce that we have confirmed with two new exchanges which will be made public very soon, the first one will be next week. We cannot give out too much information regarding this issue but we can say that there is some more good news coming regarding exchanges, and we slowly expect token liquidity to improve.
It has already been a long journey to get to this point, but we have survived and thrived in a terrible bear market thanks to a successful ICO, and now that the market is slowly turning around and more people are speaking positively about blockchain we are very hopeful for the future. Our team is working day in and day out to make sure that we deliver the things that we’ve promised our loyal community members and contributors. We truly believe that what we are in the process of creating is something that will change the entire world as we know it. Never before have we seen a bridge between these two industries with a vision like that of Elysian. Ultimately our objective is to create a product that will drastically improve consumer satisfaction and happiness in a way that benefits the common public instead of disregards it like modern-day corporate Capitalism.
Join us on this journey by getting involved in our community by clicking the links below. We want to hear your voice!