Eligma, an e-commerce platform, is aiming to use artificial intelligence (AI) and blockchain technology to revolutionise the online shopping experience.
To solve the problem of the abundance of products found online, the Slovenian-based company says it will offer a comprehensive set of solutions, consisting of discovery, inventory and loyalty systems.
“After 20 years, online shopping is still failing its target market: product research is time-consuming, multiple registrations for stores are required, fixing prices for second-hand listings isn’t easy and, looking ahead, payments with cryptocurrencies are generally not possible,” explained founder and chief executive Dejan Roljic.
“Eligma fixes those problems with a single, unified approach. We’re harnessing AI and blockchain resources to change the way shoppers discover, purchase, track and resell all sorts of items online.”
Using artificial intelligence, Eligma’s search engine algorithm will process millions of data points from numerous online stores to compare product specifications and characteristics in order to find the product with the exact specifications users are looking for. There are also plans to connect this function with a chatbot to narrow down the search results.
Users will be able to complete their order without being redirected to another online store, thanks to Eligma’s unified shopping account, and the platform’s cryptocurrency payment gateway will take payment with cryptocurrencies even if the online store doesn’t support them yet.
With the inventory feature, users will be able to see the AI-predicted current and future value of their possessions and then decide when to sell things they no longer need.
There will also be a loyalty system rewarding Eligma users with crypto tokens, which means there will be no need to register with each merchant’s separate loyalty schemes.
The company plans to raise funds through a public sale of tokens starting on 17 April.