Eligma CEO Update
Dear Eligma supporters,
A few days ago, a close friend gave me something good to think about. He asked me a very simple question: “You have seen so many start-ups in your life and met so many teams. So many of them failed and few succeeded. You know many amazing people and their stories. You probably don’t need to expose yourself like this anymore. You could lead a normal life, but you decided to turn it upside down again with the Eligma start-up. WHY? Do you really need this?”
When a friend of 20 years asks you such a question, someone who has known you for two thirds of your life, you know that something has not been communicated the right way. Maybe I have been so deeply involved with our project for the last few months that I stopped communicating with the world, especially on why we have created Eligma in the first place. Not only to my friends, but also to my family (who support me at every single step of this journey even if that means seeing me for a few hours a week), to our investors, contributors and community in general. Let me explain. We have created Eligma because we have noticed a problem and would like to solve it. We saw a problem where not many other tech players wished to notice it, and dedicated all of the time, passion and money we possessed to solving this problem with Eligma. We want to nail it. We want to save people’s time and money by optimizing the way people can discover, purchase, track and resell items. This can change dramatically in the future and we wish to make it happen.
A theory that anyone would manage to create a successful company based on the motivation to make billions of dollars is completely wrong. What lies beneath is always the desire to achieve something bigger, to make a difference; this is the goal that can be achieved through hard work and, in the course of time, can also become very financially successful. There are no shortcuts. Patience is not just in our ability to wait, but especially in how we behave while waiting. It is hard, much harder than I thought it would be, but the light at end of tunnel is brighter than ever before and we can see it!
Today, Eligma is 8 months old. Our public crowdsale finished 3 months ago. The company was started out of pure passion to realize a courageous vision. We were a small team and geographically limited to the small country of Slovenia. Here are some facts why are we one of the companies to watch in the end of 2018 but especially in 2019.
1. Last 8 months − overview
2. Upcoming 3 months − update
- This month (August), Eligma will be listed on two new exchanges, Bitforex and Tokens.
- We are launching our new websites, www.eligma.com, www.elipay.com and www.helloelly.com, on 20 August.
- On 1 September, Eligma will increase its team with new C-level executives in marketing, PR and finances.
- We are launching our MVP, HelloElly, on 5 September. It is a simple example of what the general future of e-commerce will be like.
- Elipay is going public on 12 September. It will be available on iOS and Android.
- In September, the ELI token will be listed on another new exchange. We are also in the process of signing a contract with one of the biggest liquidity providers in the world. Further details will be revealed soon.
- I became an industry advisor / thought leader at Cryptoniteventures together with Tim Draper, Tony Perkins, Michael Arrington and others: https://cryptoniteventures.com/
- I will have a second tour in Silicon Valley in September, where I will present Eligma at the 2018 Cryptonite World Tour: https://cryptoniteventures.com/world-tour-sf/
The testing app was launched on 11 June in BTC City in Ljubljana / Bitcoin City.
- We have covered 54 locations in two short months of testing, which means that we have signed a contract for a new location on every business day.
- Over the last two months, we have been mentioned in more than 130 articles worldwide covering Elipay and Bitcoin City.
- August will mark the beginning of our marketing campaign for Elipay, which is going public in September.
- Elipay will be launched at the national level (beyond BTC City) as well as for online stores, with international physical markets to follow.
- At the beginning of September, Elipay will launch an API for simple Elipay integration into online stores.
- In the next three months, debit and credit card payments will be integrated into the Elipay app. This means that people will be able to pick whether they want to pay in crypto or fiat with a single app. Loyalty will be connected to both; you will be able to add all your existing loyalty cards into the app, too.
Elipay features that we have already developed:
- Enabling crypto payments through a mobile app
- User-to-user cryptocurrency transfers
- A stand-alone POS web interface for merchants
- API integration into existing POS solutions
- ERC-20 token support
- List of stores accepting Elipay, featuring their opening times, locations and contact info
- Fully compliant KYC process embedded
- Multiple cryptocurrency exchanges integrated
Elipay features that are currently in development:
- Enabling users to select the desired cryptocurrency
- Merchant-based fixed QR codes for easy scanning
- Automatic inventory population
- Universal loyalty program with ELI-token integration
- Integration of all loyalty cards into Elipay. No need to carry hundreds of loyalty cards in your wallet; you will be able to find all of them in Elipay.
3. MVP updates — HelloElly.com
Our aims to develop a smart shopping MVP solution based on AI are close to realization. On 5 September, we are launching an MVP in the form of an AI-based personal shopping assistant. We are starting with an assistant that helps shop for mobile phones. We have identified that mobiles are widely used, but that consumers have a hard time deciding which one to choose due to so many different options available. We are designing our AI in such a way that it will not only enable users to find a phone corresponding to their personal needs and preferences, but also suggest similar products that offer a better price to quality ratio. HelloElly will expand its category product list selection by the end of the year, so stay tuned!
4. Strategic decisions
The right decisions at the right time are essential for success. The Eligma team is expanding, especially in the development area. The Elipay crypto payment options now include Bitcoin, Bitcoin Cash and Ether, with further ERC-20 additions in the future − including the ELI token, the staple of our loyalty program, which we will be introducing at the time of Elipay’s official launch. The team is working very hard for ELI to enter major exchanges and become more accessible to the wider trading community. It is also worthy of mention that Eligma joined Blockchain Alliance Europe — an organization committed to the recognition of this technology worldwide as well as to making Europe a leading Blockchain destination. We are also in the process of joining Blockchain Think Thank Slovenia, focused on education and awareness-raising, the drafting of legislative proposals and solutions, and linking the Slovenian knowledge on Industry 4.0.
5. Regulators and Eligma
The Bank of Slovenia has confirmed that Elipay can legally operate in Slovenia. We have formed a strong relationship with all the relevant regulators in Slovenia. Eligma is an exemplary project that operates lawfully and transparently. At the invitation of the Slovenian regulators, Eligma will participate in the preparation of legislative changes as an important industry stakeholder and a pioneer in its field.
Additionally, we have established relationships with most of the European regulators to expand the Elipay service Europe-wide. We are therefore in regular contact with regulators in Germany, Austria, France, the UK, Croatia, Bosnia and Herzegovina, Serbia, Italy, Estonia, Malta and the Netherlands, and have also contacted several others.
6. My thoughts on future developments
Our next steps are extremely important. By now, we have developed our own cryptocurrency payment solution and HelloElly, our AI-based shopping assistant, which will be launched on 5 September. We will soon launch additional features on Elipay — e.g. loyalty programs, product discovery, and in-app purchases. Our main goal, however, is to transform every household into a business, and we will now focus all of our efforts on that segment. It is time for products like personal inventory and cross-sales on secondary markets, price prediction mechanisms and product discovery systems in combination with QR code scanning and payment solutions.
In other words, we will develop solutions that the average household needs and wants right now. We are approaching important milestones with our own payment solution and AI development, which has given a glimpse of the future in that industry. However, our development teams are also developing other technologies so that we can show the world why we are the next big thing in the commerce sector. It is time to start combining all these highlights into a single story. In this process, our core product will be born.
Stay tuned and don’t forget that the price of a token in a bearish market is never an indicator of the true worth, work and dedication of a team or company. It simply means that the market is down at the moment and that we need to work even harder so that we will be ready for the bull.
Thank you for all your support and patience. We are all in.