eLYQD - Decentralized Vaping Industry Marketplace

ANN - WEBSITE - WHITEPAPER - FACEBOOK - TWITTER - TELEGRAM

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 position of cryptocurrency in today’s world is growing rapidly: the combined market capitalization of all cryptocurrencies has increased more than threefold since early 2016, reaching almost $150 billion in August 2017

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.

Our aim is to connect e-liquid manufacturers all over the world and supply businesses with the necessary tools for launching a one-of-akind platform to the global market with minimal transaction fees and without any financial borders, intermediaries or annoying bureaucratic routine. We will unite manufacturers in order to create our own economical crypto-commerce that will take e-commerce to a new level.

eLYQD is a fully decentralized e-commerce marketplace where everyone can buy and sell vaping products,and benefit from the significant advantages of the platform's design and technical properties: privacy, freedom, and much lower costs.

Problem

Full product range — either expensive or not available
Cross-border payments for vaping products
Payment Verification or denial
Record keeping and security
Complexity
Fraud
Reputation

Solution

Consumers have access to brands from all over the world 24 hours a day, 365 days a year, wherever they are
LYQD tokens allow users to send and receive payment globally in minutes, eliminating the risk of nonpayment and costing a tiny fraction of the total
eLYQD blockchain will facilitate immediate fund transfer into escrow accounts. All constituents can manage escrow accounts through smart contracts
The eLYQD recordkeeping app will allow for simplified electronic record creation and store this data on a decentralized anonymized network that is significantly harder to hack and leak
The eLYQD system will eliminate points of potential breakdown. eLYQD smart contracts will (a) ensure that transitions occur smoothly and (b) keep immutable records of actions taken by all constituents
eLYQD requires proof-of-order, time/location stamping of the actual transaction, and undisputed hash records of all steps executed, from order, billing to shipping.
The eLYQD network will record all transactions, positive actions improve a user’s reputation. The risk of a negative review motivates all parties to remain honest. eLYQD's blockchain-based decentralized network will provide a platform for the next generation of peer-to-peer (P2P) apps to support and record all constituent interactions in the value chain, with proof of completion and compliance at each step.

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.

Each year the number of people who regularly shop online keeps growing. According to the Global E-commerce Report marketing study by Nielsen (a company focused on the FMCG industry marketing measurements), the number of online shopper’s increases annually by an average of 16% and now it amounts to 1.66 billion worldwide. Global e-commerce is such a growth industry, which poses huge challenges to the world of traditional retail channels. For many consumers, especially in the developed world, e-commerce has become the top choice when it comes to shopping, threatening the existence of old brick-and mortar retail shops. It is also creating huge ripples in emerging markets, especially since ecommerce stores can enter the market quite easily. There are more than 1.5 billion customers of online marketplaces in the world:

Under conditions of global economic growth, the online retail is gradually capturing its share of the international market of retail and enlarging the number of e-commerce platforms users both among customers and among sellers. The world e-commerce is getting a boost, with the turnover of $2.2 trillion expected by 2018. Rate of increase is 20%.

Brick and mortar chain stores are hanging in, but their success increasingly depends on the inertia of the purchasing habits of older generations, and a few price advantages of in-store discounts, both of which are dwindling fast as internet technology develops.

The existing system of distribution of e-liquids and services is full of critical flaws that make this system archaic, vulnerable and inefficient. Most importantly, it is highly monopolized by large players, which results in economic dictatorship from the wholesale and retail networks whereby suppliers are forced to sell their products at minimum bulk prices and end consumers have to purchase those very products at unjustifiably high retail prices.

Manufacturers and consumers being separated from each other by a chain of intermediaries makes the relations between the main agents of economic activity woefully depersonalized. This paves the way for consumers to be cheated, often by formally legal means. For example, product labeling regulations leave little chance for the consumer to know the real ingredient composition of any e-liquid, let alone the origin and quality of the raw materials used. At the same time, e-commerce platforms have worked hard to create the most convenient user experience possible.

Payment systems, delivery services and brand marketing operate on a “global” scale. This means users will find ads in their own language no matter what site they’re visiting, be able to pay with a card from their local bank, and have the product delivered to them, even from overseas.

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.

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.

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.