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Before discussing the major threats and their solutions concerning Ecommerce industry, we shall first discuss the emerging role of cryptocurrencies.

So far, the cryptocurrency market is considered as just another speculative trading mechanism and its role as a viable instrument for the transaction of goods and services is not widely accepted both by the individuals and the businesses. A common consumer still wonders how the cryptocurrency can be used for any transaction other than trading purpose? Unfortunately, until now hardly a few companies including big Ecommerce brands have considered cryptocurrency an alternative to fiat currency for online transactions. Because of this the cryptocurrency traders are facing a setback in using the Ecommerce platform and the only solution for them is to first convert their cryptocurrency to fiat currency by paying unreasonable conversion fees. Elysian Ecommerce platform has solved this problem by providing an opportunity to the consumers to utilize their cryptocurrency the way they like.

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As long as no Ecommerce company accepts the cryptocurrency for the purchase of goods and services, the consumers have no choice but to use fiat currency for all transactions. The original idea behind Bitcoin was to bypass the traditional and centralized banking channels to ensure a direct peer-to-peer transaction. However, right now Bitcoin and other cryptocurrencies are being considered as purely a tool of speculative trading which wasn’t the purpose of designing these currencies. The volatility might be helpful in speculative trading but at the same its creating a hesitancy among the consumers to use it as alternative to the fiat currency. In spite of all these factors, Elysian is providing the first Ecommerce platform that will allow the use of cryptocurrency as an alternative to the fiat currency for all transactions.

<h3>Security concerns faced by Ecommerce industry: </h3>

One of the major threats in Ecommerce industry is the lack of foolproof cyber security particularly concerning the identity theft. Hackers can use the stolen consumers’ data for fraudulent purposes such as misuse of credit card details can cause financial losses to the consumers. For the industry to continue on growth path, the trust level between the businesses and the consumers must improve and that can only be achieved if the consumers’ security concerns are addressed properly.

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The solution to the security threats is provided by the blockchain technology which has truly revolutionized the internet. Again, blockchain is still in its very early stages and most of the Ecommerce businesses are still unaware of this technology. The fact that most of the companies are not using blockchain technology is evident from the massive data breach complaints. The blockchain provides an opportunity to securely store the customer data and this ability has helped in improving the trustworthiness which was nonexistent in the recent past. This immutably secure ledger provides a permanent foundation of storing the data and for carrying out transactions without the fear of tampering or hacking. This revolutionary arrangement has provided a sense of foolproof security to the consumers which will help in the sustainable growth of the Ecommerce industry on the whole.  

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# Company 
Website: https://elycoin.io/ 
WhitePaper: https://elycoin.io/whitepaper/english
LightPaper: https://elycoin.io/lightpaper/english 
Bitcointalk Thread: https://bitcointalk.org/index.php?topic=3333050
Telegram: https://t.me/elysian_ely
Twitter: https://t.me/elysian_ely   
Facebook: https://www.facebook.com/ElysianxELY/ 
Code: https://github.com/Elysian-ELY/Smart-Contract

Proof of Work for https://bitcointalk.org/index.php?action=profile;u=1887821