26 November 2018 – One of the problems contributing to the challenging position of cryptocurrencies today is that of showing their practical usability beyond trading, especially in the case of utility tokens. One of the success stories in this respect is that of the ELI token. Until recently, the use of cryptocurrencies for shopping was chiefly limited to online stores. Eligma, a company specializing in smart commerce, aims to change that at a global level. Two months ago, it presented Elipay, a system for shopping with crypto at online and offline stores through a mobile phone app. Elipay is now accepted by more than 200 locations all over Slovenia, making it the country with the highest number of locations accepting selected cryptocurrencies. Eligma also realized the next step on its roadmap: to make its ELI utility token part of the daily shopping experience. This makes Eligma one of the fewest startups that furthers the utility of its native crypto token, introduced as part of its crowdsale, and follows its mission to make the advantages of crypto part of the mainstream.
Slovenia, a global record holder in the number of crypto-friendly locations
One of the facts that may be aggravating the challenging position of crypto today is the fact that the shift from the trading domain to the general awareness has not yet taken place. Despite the advantages of blockchain technologies and cryptocurrencies, these have not been used to their full potential in mainstream commerce; stores and service providers accepting cryptocurrencies are still quite rare. The Slovenia startup Eligma wished to change that, developing Elipay − a user-friendly system for shopping with crypto with the mobile phone. Elipay met with an excellent response on part of Slovenian merchants and service providers. Slovenia now boasts more than 200 (mostly offline) locations accepting crypto, and is currently global number one in terms of locations accepting certain cryptocurrencies. Nevertheless, Eligma sees its smart commerce mission as bigger than that.
“We are proud that Elipay has made Slovenia one of the most attractive destinations on the crypto map. However, the Elipay system is being developed to enable easy shopping to all consumers who wish to save time,” says Eligma CEO Dejan Roljic, “For this reason, Elipay is shortly integrating credit / debit cards. This will also enable fiat users to enjoy the advantages of fast mobile shopping provided by Elipay. An important part in this, of course, will also be played by the ELI token.”
ELI as a mainstream utility token
Elipay’s universal loyalty program rewards every user’s purchase with a 1% token back in ELIs. The user can also earn a further 1% by scanning the receipt into the app, and rating their shopping experience or answering a simple question. The ELI token will initially be accepted at food and drink venues, but these will be gradually followed by all other store and service provider categories in the Elipay system. The aim of the Elipay loyalty program is to bring the advantages of cryptocurrencies and blockchain closer to all consumers, also those who have never used crypto and do not wish to be involved with crypto trading.
The introduction of the ELI token into the general consumer practice makes Eligma one of the few startups aspiring towards a true utility token as promised during its successful crowdsale in May 2018. “Realizing our promise to prove the utility of the ELI token not only shows our commitment to our community, but to the quality of our products and to our vision to make everyday shopping easier for all consumers, regardless whether they are familiar with cryptocurrencies or not,” Dejan Roljic says.
To learn more about Eligma’s activities and its AI-driven blockchain platform that is about to transform online and offline shopping, visit www.eligma.com.