New merchandise has an advantage in terms of both online and offline accessibility. It is subject to aggressive advertising where new is good but the latest is better. Models, types, versions and trends appear faster than we can buy. The global economic conditions and the awareness shift towards sustainable commercial practices, however, are transforming this ‘out with the old, in with the new’ philosophy. As consumers, we are becoming increasingly aware that good-quality goods are made to last much longer than the whims on which they might have been acquired. Reduce, reuse, recycle. Our homes are untapped warehouses and sometimes look like that, too. How can that change in terms of effective product circulation?

Eligma, an AI-driven and blockchain-based cognitive commerce platform, will offer the following solutions for the current challenges of online second-hand commerce integration:

Easy market access

In order to make the most out of second-hand property and its online trade, a lot more people must be enabled to put their ‘home warehouse’ merchandise on offer. The Eligma cognitive e-commerce platform offers instant automatic access to second-hand markets by first creating a smart inventory of the user’s property. The inventory contains every online purchase and furnishes it with a unique blockchain-tracked Digital Information Profile with data on the item’s age, warranty, condition and history of purchase. It is also possible to manually add items acquired offline. The inventory enables the users to monitor the current and future item value, calculated by the Eligma AI, which also notifies the user on the best time to sell it. If the user agrees, a listing is automatically created with a few button clicks and then published on selected second-hand sites. This enables a simple integration of every household into the second-hand business community.

Guarantee and protection

The issue of safety for both the buyer and the seller is an important factor that makes individuals reluctant to participate in second-hand trade. Eligma has developed two transaction quality assurance mechanisms. The first one is the Eligma escrow service, in which Eligma withholds the buyer’s payment and the seller makes a deposit in our ELI crypto tokens as a guarantee until the validation of the product by the buyer. The second solution is the use of smart contracts on a blockchain, which allows for fully decentralized sale. The goal of Eligma is to implement sale mechanisms that are transparent, safe and fair to all.

E-commerce integration tools

Eligma enables the buyer to find the right product online by means of AI-driven global product discovery, which relies on the exact specifications determined by the user and processes data points from millions of online stores worldwide. In this way, Eligma aims to contribute to the integration of currently highly dispersed second-hand commerce sites while concentrating on the central criterion for most used goods shoppers: the price – quality ratio. The Eligma platform will also enable purchases at any online store with a single shopping cart, with no further registrations at different stores necessary.

The online second-hand market should be much more visible, safe and readily accessible than it currently is because most goods in the world are used, not new. Online second-hand business can become the pillar of sustainable commerce. At Eligma, we wish to boost it by integrating dispersed second-hand resources into a highly visible online entity. First-hand and second-hand: we can not have one without the other to make a better future.

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Eligma. Second-hand business is a first-class opportunity.