Why use crypto when there’s cash and credit?
Crypto is the buzzword in the world today. Like moving pictures, mobile phones or digitalization, it is based on a unique technology that promises to change our daily lives forever. The trackability and immutability of blockchain make it highly attractive in many domains, not just the financial one. At Eligma, we aim to make these advantages part of the commerce mainstream by developing simple but effective solutions for everyday shopping. So why get a mobile wallet in addition to your normal one — while it is fair to say that the average person was also skeptical when credit cards and electronic banking first appeared?
1. Paying with crypto is coming to a store near you
One of the problems of the world of commerce was that the ‘crypto’ and ‘normal’ worlds used to be strictly divided. The use of cryptocurrencies was limited to exchanges, but after a decade and millions of crypto holders, it is high time to use them everywhere. At Eligma, we developed Elipay, a system for shopping with crypto at offline stores, and we are extremely pleased to report that an increasing number of merchants and service providers is looking to implement this payment option. With Elipay, it is not even necessary for a store to accept cryptocurrencies because it can receive the purchase amount in either fiat or crypto.
2. Paying with crypto is simple and convenient
Why use cash and a number of credit cards when all you need is an item that you always carry — your good old mobile phone? Elipay works as a phone app connected to your Elipay crypto wallet. Apart from crypto payments, deposits and transfers, it also enables you to view your balance, purchase history and info on stores offering Elipayments. We aim for Elipayments to be even simpler than paying with cash and credit. At the cashier, a unique QR code is generated for the goods you wish to buy; all you need to do is scan it with the Elipay app and confirm the purchase.
3. Paying with crypto puts safety first
A normal wallet can be stolen, but the crypto in your Elipay wallet will be kept in cold storage, thus keeping it as safe as possible from system break-ins and compromises. A stolen credit card is connected with a number of problems because its numbers can be used to buy things, but nobody can use your Elipay system without your login. Credit card frauds represent one of the biggest revenue losses for merchants and service providers. With Elipay, there is no fear of that because a customer needs to have a sufficient amount in their wallet for the transaction to go through.
4. Paying with crypto uses blockchain technology
We do not have to be into crypto trading, hodling etc. to benefit from the technologies that cryptocurrencies are based on. The world of utility tokenization has seen its own evolution, and ours is a token economy in many aspects even without crypto. Coupons, loyalty points etc. are all negotiated items of value that can be used at specific service providers. Utility crypto tokens can be described as their versions on steroids, with numerous benefits such as decentralization of services, transparency and fraud prevention. In a few years, Eligma’s utility token, called ELI, will be given as a reward for transactions made through Elipay and for using the Eligma smart commerce platform with many interesting features, such as superfast mega-searches of items online, automatic inventory of one’s online purchases, automated online listings of items one wishes to resell and so on, saving shoppers and sellers not only their money, but their time — something that cash and credit have not been able to buy so far.
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