According to the latest data, the current number of unique active users of cryptocurrency wallets is estimated to be about 6 million. Thus, the application of cryptocurrency becomes an important issue.
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.
eLYQD offers significant advantages over traditional, centralized ecommerce platforms and opens up the rapidly growing marketplace to new business and user segments.
It allows anyone to list items for sale, to set up a store, or to make a purchase. At the same time, eLYQD contains powerful tools to facilitate both the user experience and to protect customers and merchants.
These tools include instant search, escrow, and customizable filters to screen items illegal in certain jurisdictions. Centralization has been removed from the trading process – allowing for radically lower fees, a high degree of privacy, and zero censorship. the beginning
Without middlemen, wholesalers and retailers, the efficiency of all social interactions would increase ten-fold. And, as a consequence, the purchasing power of consumers’ money would increase as well.
This could only be a dream before.Today modern technologies allow us to make it a reality. eLYQD has the aspiration to enable truly free trade on a global scale. The company envisions a global economy in which all participants can conduct business with each other seamlessly, privately, and efficiently, regardless of their location and without interference, censorship, or prohibitively high fees. The Ethereum blockchain enables the realization of this vision. eLYQD is made up of a team of highly committed individuals with different backgrounds and careers, all of which have led them to the blockchain technology.
What is eLYQD
eLYQD is a decentralized ethereum based ecosystem marketplace that will be the framework for the entire vaping industry. One of the main features of eLYQD is the use of blockchain technology, which allows making the platform transparent, open and as safe as possible for both transaction parties, reduction of transaction and business costs, and simplifying of the purchase process.
eLYQD is a platform designed to allow vaping industry manufacturers to create an online store that will make good use of the most advanced technologies in the e-commerce field, and providing the vaping community the freedom of choice and the option to pay for products with LYQD tokens, fiat or cryptocurrencies.
The eLYQD Vision
The eLYQD marketplace will increase the efficacy of all business interactions by freeing them from all kinds of middlemen and making those interactions immediate, transparent, secure and mutually beneficial. This vision will be achieved by creating a fast blockchain-based decentralized ecosystem and organizing user interactions on the peer-to-peer basis. The eLYQD ecosystem will be used by mass consumers and product manufacturers, from all around the world.
Blockchain - Distributed blockchain ensures total transparency and verification of each transaction, including detailed product characteristics, its price structure, relevant circumstances of the sale, as well as reputed profiles of the sale parties. The eLYQD ecosystem will be deployed on the Ethereum platform.
- Peer-to-peer - The peer-to-peer principle of interaction within eLYQD will allow all participants to interact directly. This removes middleman-related costs. The price of a product or a service will be passed over to the manufacturer in its entirety. The end-price of a product will only contain real production costs and a fair margin.
- Elyqd Utility Token - Payments within the eLYQD ecosystem will be effected in the system's own crypto-tokens—LYQD, ERC20-compliant. The function of the token will be to reward users for active use of the ecosystem and contributions to its development (rewards include several types of crypto-paybacks, loyalty, promotions).
- Arbitration - In the case of a dispute between buyer and seller, an arbitration service is available. We encourage sellers to choose an arbitrator, as it increases the trust level for buyers and also the probability that purchases will be made. If both parties dispute a transaction, the seller will pay the arbitrator out of the escrowed funds. For buyers, arbitration is always free of charge.
- Reputation System - Every seller and buyer will have a reputation rating derived from their conduct during every transaction. Users with a low or negative reputation score may be filtered out, in order to protect other users from fraud and wasted time. This reputation system will encourage legitimate merchants and customers to act honestly and to build up a solid reputation.
- Fiat Payments - Ether, like all cryptocurrencies, is volatile, changing in value on a daily basis, relative to national currencies like the dollar and the euro. eLYQD will develop an integrated payment system that works like ether, but converts to currencies at a ratio of 1:1. Finally, items can be priced in a national currency, and you will know exactly how much you're spending or being paid.
Market Overview
- Vapor Products - Dynamics
The perception of end-users toward e-liquids and devices is changing worldwide. The vapor products market is witnessing an increase in desire among end-users globally to quit smoking because of the increasing number of deaths caused by smoking-related cancer, respiratory diseases, and heart diseases. This trend, coupled with continuous innovations in e-vapor liquids and devices, is prompting large tobacco companies to shift their focus toward the development of these products. - Vapor Products - Distribution Channels
Online sales will increase significantly due to availability of more choices to consumers than retail stores. E-vapor liquids and devices are mainly sold through retail distribution channels such as convenience stores, vape shops, tobacco shops, grocery shops, drug stores, and other retail outlets. These products are also available to end-users through online OEMs' e-commerce portals and online direct-to- consumer stores such as Amazon, eBay, and Alibaba.
Business Model
GlobaLiquids Inc., dba eLYQD is a corporation registered in USA. eLYQD will provide the exclusive technology services for the online crypto-commerce ecosystem marketplace.
eLYQD is a platform created for buyers and sellers from all over the world. With an easy to-use online platform, any manufacturer is able to create their own storefront to sell their products, while making use of the platform’s wide range of features for a minimal fee.
Our service offers great opportunities for self-employed entrepreneurs, small-scale manufacturers, multinational businesses, including a selection of tools for direct customer feedback, bookkeeping, sales analysis, advertising and promotion, as well as a convenient, userfriendly interface.
The eLYQD’s revenue model differs fundamentally from those of traditional e-commerce platforms.
Traditional e-commerce platforms typically charge a flat fee on the sale price, sometimes in combination with a commission fee. Buyers may also have to pay fees to PayPal or other payment processing solutions.
Why eLYQD
Smart Contracts
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.
Payments
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.
Win-Win Strategy
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.
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Roadmap
For Information
Website: https://www.elyqd.world/
Whitepaper: https://www.elyqd.world/assets/files/white-paper.pdf
Facebook: https://web.facebook.com/elyqdcom
Twitter: https://twitter.com/elyqdcom
Telegram: https://t.me/elyqd_world
Reddit: https://www.reddit.com/user/elyqdcom
Linkedin: https://www.linkedin.com/company/elyqdworld/
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