Two weeks before its public crowdsale, the Eligma start-up is successfully following its roadmap. They explained how they are developing their first feature, discovery, to offer a new and easy way of searching for products to buy online. With a series of innovations combining artificial intelligence and blockchain technology, Eligma aims to save users time and money by providing them with precise item discovery as well as automated resale options for things they no longer need. Its long-term vision to make the consumer landscape more user-friendly and sustainable has attracted technological innovators like Microsoft, and enjoys the support of eminent crypto community members such as bitcoin pioneer Charlie Shrem.
Shopping smart is AI shopping
Eligma’s vision is to make the average shopping experience faster and smarter by finding an item that precisely corresponds to the user’s search criteria, and with a single query search across all online stores.
This AI solution in its early development stages presented today will be based on machine learning. Demonstration video is accessible here. Its discovery concept will rely on an algorithm that first recognizes the product’s category and then uses an AI agent that is specifically trained with all the characteristics of the products in that category. In that way it can offer precisely what the user needs. Later on, this function will also be connected with a chatbot, asking the user smart questions to give the optimum item discovery results. The option to use the AI-driven feature to find the best deal amongst all online stores is the first of the three major functionalities that will enable Eligma to act as a comprehensive online store aggregator.
Alongside the presentation of the developed first stage of the Eligma’s discovery feature, CEO Dejan Roljic stated: “Our revolutionary technology will enable us to introduce a new market solution reflecting the needs of the contemporary buyer and making the online shopping concept a lot simpler. It is our ambition to make our solution global and set a new benchmark for all existing online sellers.” The other two functionalities are an automatic inventory of one’s property that suggests the best time to resell one’s unwanted possessions, and a loyalty system rewarding Eligma users with ELI crypto tokens. The last feature is also well underway, with the tests starting mid-April.
The world’s first Bitcoin City
The Team that is responsible for Eligma’s development is made up of firm believers in blockchain technology. That is why they are implementing the technology in several of their product features. The first one they already presented is their Elipay system for transparent cryptocurrency transactions. From mid-April onwards, cryptocurrencies will become part of the mall shopping experience at the Slovenian BTC City retail and business centre with 21 million customers a year. The Elipay transaction system, accessible with a mobile phone app, will enable the use of cryptocurrencies. The use of Elipay will initially be offered in a number of selected stores. In about 6 months, however, the retailers will be combined into a unified loyalty program that will enable its users to earn and redeem ELI tokens at most shops at the BTC City centre. This will make BTC City the first Bitcoin City in the world.
Combining cutting-edge technology and business
The names behind the Eligma concept are cofounders Dejan Roljic, founder of ABC Accelerator – a global bridge for start-ups reaching as far as Silicon Valley, Matej Gregorcic, co-founder of the blockchain-based music platform Viberate, and Joze Mermal, President of BTC d.d. Management Board. Eligma’s various development aspects are being enhanced by an eminent range of advisors such as Garry Dillabough (former eBay sustainability specialist), Jeff Arrillaga (member of the Association of Silicon Valley Brokers Hall of Fame) and Sunny Saini (Commodity Manager at Google), all convinced that the retail market is ready for this major step in its development. The project has already generated considerable interest in the crypto world, with eminent crypto business pioneer Charlie Shrem being the latest to join its advisor list. Pleased with the development progress, Eligma CEO Dejan Roljic stated: “The advisors intrigued by Eligma’s business plan come from all relevant industries with experiences earned from working with renowned companies such as Google, Apple, Intel, EDG, eBay, CryptoIQ and more. That is a sign that time is right for Eligma to utilize the accumulated advisors’ knowledge and presents to the world how it envisions the future of commerce.”
In order to be able to further its development, Eligma is currently holding a presale of its tokens, with the public crowdsale to follow on 17 April.