[ANN] Elitium - A Digital Economy to Lead a Life of Independence, Value & Growth

[ActAshton]

To be sure if I get them correctly, so instead of the whole continent like Europe or the whole country like USA, Asian market will be on selected countries based om the regulations? In your prediction, how will this affect the market preferences? Won't countries without the card "privileges" be hesitant to adopt your token as they're not that.... functional?

Doing business in the US is a very sporadic and timely process. Asia is easier to jump into and a lot of countries love the western paradigm their bringing to the table.

PLUS, it is easier to gain access to Asia when shipping cards globally. US is also a toughy unless you have a direct partnership with VISA or Mastercard, which very few have right now. It took Wirex only 6 YEARS to make this happen. For Elitium, it might be even sooner given how we've seen these fintech giants react to the markets.

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[tippytoes]

To be sure if I get them correctly, so instead of the whole continent like Europe or the whole country like USA, Asian market will be on selected countries based om the regulations? In your prediction, how will this affect the market preferences? Won't countries without the card "privileges" be hesitant to adopt your token as they're not that.... functional?

Doing business in the US is a very sporadic and timely process. Asia is easier to jump into and a lot of countries love the western paradigm their bringing to the table.

PLUS, it is easier to gain access to Asia when shipping cards globally. US is also a toughy unless you have a direct partnership with VISA or Mastercard, which very few have right now. It took Wirex only 6 YEARS to make this happen. For Elitium, it might be even sooner given how we've seen these fintech giants react to the markets.

Let's see first if they can conquer the market in Europe or USA, because once they are successful in those countries, expanding their network in Asia will be easy. We have seen a lot of these projects but their actual presence in the market is usually a failure. Not many users are actually using this crypto card. The mission is great but when it comes to implementation, is very hard to accomplish.

[elitium.io]

To be sure if I get them correctly, so instead of the whole continent like Europe or the whole country like USA, Asian market will be on selected countries based om the regulations? In your prediction, how will this affect the market preferences? Won't countries without the card "privileges" be hesitant to adopt your token as they're not that.... functional?

Doing business in the US is a very sporadic and timely process. Asia is easier to jump into and a lot of countries love the western paradigm their bringing to the table.

PLUS, it is easier to gain access to Asia when shipping cards globally. US is also a toughy unless you have a direct partnership with VISA or Mastercard, which very few have right now. It took Wirex only 6 YEARS to make this happen. For Elitium, it might be even sooner given how we've seen these fintech giants react to the markets.

Let's see first if they can conquer the market in Europe or USA, because once they are successful in those countries, expanding their network in Asia will be easy. We have seen a lot of these projects but their actual presence in the market is usually a failure. Not many users are actually using this crypto card. The mission is great but when it comes to implementation, is very hard to accomplish.

Europe is easier because of the resources available already. EMI and card shipping partnerships are a bit easier to acquire than they are in any other continent. After the Wirecard debacle shook the world, there is a need for something a bit more reliable and transparent. They had a great approach to the general consumer but soon the consumer will evolve into something more high-end at the rate of this market. DeFi will make more millionaires than the ICO boom will.

You're absolutely right, by the way. Implementation and go-to market strategies can be a bear, but they are not impossible.

[holydarkness]

To be sure if I get them correctly, so instead of the whole continent like Europe or the whole country like USA, Asian market will be on selected countries based om the regulations? In your prediction, how will this affect the market preferences? Won't countries without the card "privileges" be hesitant to adopt your token as they're not that.... functional?

Doing business in the US is a very sporadic and timely process. Asia is easier to jump into and a lot of countries love the western paradigm their bringing to the table.

PLUS, it is easier to gain access to Asia when shipping cards globally. US is also a toughy unless you have a direct partnership with VISA or Mastercard, which very few have right now. It took Wirex only 6 YEARS to make this happen. For Elitium, it might be even sooner given how we've seen these fintech giants react to the markets.

As I said on previous page, that's contradictory to your opinion, penetrating Asia market will be rather tough case because some countries limit crypto development. Thus, my question to team about their strategy to tackle the issue and if they've foresee what'll be the Asians' preference in regards to limited feature.

~snip~

You're absolutely right, by the way. Implementation and go-to market strategies can be a bear, but they are not impossible.

I assume this answer is for my query? Or were you addressing the other two posts?

[elitium.io]

To be sure if I get them correctly, so instead of the whole continent like Europe or the whole country like USA, Asian market will be on selected countries based om the regulations? In your prediction, how will this affect the market preferences? Won't countries without the card "privileges" be hesitant to adopt your token as they're not that.... functional?

Doing business in the US is a very sporadic and timely process. Asia is easier to jump into and a lot of countries love the western paradigm their bringing to the table.

PLUS, it is easier to gain access to Asia when shipping cards globally. US is also a toughy unless you have a direct partnership with VISA or Mastercard, which very few have right now. It took Wirex only 6 YEARS to make this happen. For Elitium, it might be even sooner given how we've seen these fintech giants react to the markets.

As I said on previous page, that's contradictory to your opinion, penetrating Asia market will be rather tough case because some countries limit crypto development. Thus, my question to team about their strategy to tackle the issue and if they've foresee what'll be the Asians' preference in regards to limited feature.

~snip~

You're absolutely right, by the way. Implementation and go-to market strategies can be a bear, but they are not impossible.

I assume this answer is for my query? Or were you addressing the other two posts?

To be sure if I get them correctly, so instead of the whole continent like Europe or the whole country like USA, Asian market will be on selected countries based om the regulations? In your prediction, how will this affect the market preferences? Won't countries without the card "privileges" be hesitant to adopt your token as they're not that.... functional?

~snip~

You're absolutely right, by the way. Implementation and go-to market strategies can be a bear, but they are not impossible.

Sorry, still trying to work the BBCode format for quoting specific replies.

Similar to US, each country in Asia has their own set of requirements and compliance. Unlike Europe, the entire EEA has the same set of regulations for 99% of all countries.

Asia is ahead of its time for a cashless society (for most countries) with the recent spikes of technology in the last 5-10 years. We predict the card would make a bigger impact where it will be used most.

Also, most crypto whales and mining facilities are ran out of Asia and Europe, hence our narrowed target market. It won't take long for US and other countries to catch up amidst the pandemic.

What makes you think other countries won't have the same features as others? If anything, it's either the products/services will be available or it won't.

[holydarkness]

Sorry, still trying to work the BBCode format for quoting specific replies.

You can delete the posts you wanted to remove, they'll be from a bbcode "[quote author .......] and ended with "[/quote]". If that's a bit confusing for the first times, try to replace the entire sentences of the person's post that you want to remove with a ~snip~, I think you'll be able to find the structure easier that way.

Similar to US, each country in Asia has their own set of requirements and compliance. Unlike Europe, the entire EEA has the same set of regulations for 99% of all countries.

Asia is ahead of its time for a cashless society (for most countries) with the recent spikes of technology in the last 5-10 years. We predict the card would make a bigger impact where it will be used most.

Also, most crypto whales and mining facilities are ran out of Asia and Europe, hence our narrowed target market. It won't take long for US and other countries to catch up amidst the pandemic.

What makes you think other countries won't have the same features as others? If anything, it's either the products/services will be available or it won't.

Yes, I would agree that Asia is currently in trend of cashless transaction, the pandemic even pushed the mass adoption further because they're encouraged to transact cashless-ly. But as far as I know, the money they use on those cashless transactions are their own fiat. They deposited money from their bank account into an app, and then transact with the balance within the app.

In other words, the money they use to do a cashless transaction are still their respective fiat and not crypto, as their countries (for some) banned transactions that's not conducted with their own currency.

This will leads to a situation where they (for some countries) can't use your token as a means of payment, which I also asked you to confirm on previous post (quoted below) if you have a strategy to get around this, and get a reply that you'll review each countries regulation for the said issue.

With this, we circled back to my question:

Let's suppose (just a random country, I'm not really adept to the payment regulation on said country) Japan banned any transaction that's not based on JPY. This will create a situation where Japanese can only use your token for trading, staking, and other features available on other countries except for a payment system. Thus your card rendered useless.

In your strategic marketing plan, how do you see this challenge affect Japanese preference of buying and holding your token? Given that it is very possible they'll think it's kind of useless because they can't use the "full feature" like other countries does (i.e. as a means of payment)

This might sounds like a classic question, but... from what ai read, your current selling point is a payment card. And you've said it yourself that Asia will be the next market. From what I currently know, some countries in Asia banned crypto as a form of payment, some even only allows their own FIAT as the legal form of payment. How do you plan to get around this?

The first markets will be Europe & USA. In asia the legal situation is different from country to country, the market is changing very fast so its all about having the right partners on board to be able to adapt quickly.

Of course compliance is the highest priority, but as I mentioned this has to be reviewed per country at the given moment.


Does that answer your question?

[elitium.io]

Sorry, still trying to work the BBCode format for quoting specific replies.

You can delete the posts you wanted to remove, they'll be from a bbcode "[quote author .......] and ended with "

". If that's a bit confusing for the first times, try to replace the entire sentences of the person's post that you want to remove with a ~snip~, I think you'll be able to find the structure easier that way.

Similar to US, each country in Asia has their own set of requirements and compliance. Unlike Europe, the entire EEA has the same set of regulations for 99% of all countries.

Asia is ahead of its time for a cashless society (for most countries) with the recent spikes of technology in the last 5-10 years. We predict the card would make a bigger impact where it will be used most.

Also, most crypto whales and mining facilities are ran out of Asia and Europe, hence our narrowed target market. It won't take long for US and other countries to catch up amidst the pandemic.

What makes you think other countries won't have the same features as others? If anything, it's either the products/services will be available or it won't.

Yes, I would agree that Asia is currently in trend of cashless transaction, the pandemic even pushed the mass adoption further because they're encouraged to transact cashless-ly. But as far as I know, the money they use on those cashless transactions are their own fiat. They deposited money from their bank account into an app, and then transact with the balance within the app.

In other words, the money they use to do a cashless transaction are still their respective fiat and not crypto, as their countries (for some) banned transactions that's not conducted with their own currency.

This will leads to a situation where they (for some countries) can't use your token as a means of payment, which I also asked you to confirm on previous post (quoted below) if you have a strategy to get around this, and get a reply that you'll review each countries regulation for the said issue.

With this, we circled back to my question:

Let's suppose (just a random country, I'm not really adept to the payment regulation on said country) Japan banned any transaction that's not based on JPY. This will create a situation where Japanese can only use your token for trading, staking, and other features available on other countries except for a payment system. Thus your card rendered useless.

In your strategic marketing plan, how do you see this challenge affect Japanese preference of buying and holding your token? Given that it is very possible they'll think it's kind of useless because they can't use the "full feature" like other countries does (i.e. as a means of payment)

This might sounds like a classic question, but... from what ai read, your current selling point is a payment card. And you've said it yourself that Asia will be the next market. From what I currently know, some countries in Asia banned crypto as a form of payment, some even only allows their own FIAT as the legal form of payment. How do you plan to get around this?

The first markets will be Europe & USA. In asia the legal situation is different from country to country, the market is changing very fast so its all about having the right partners on board to be able to adapt quickly.

Of course compliance is the highest priority, but as I mentioned this has to be reviewed per country at the given moment.


Does that answer your question?

[/quote]

Great question. This would require licensing in each country to handle their native fiat. There isn't really any other way to get around it unless we have our own EMI license (or use a partners) or possibly a broker/dealer license to act as an OTC provider on the platform (this raises difficulties for PSPs as OTC is primarily p2p and it would be a bear to automate without proper facilities). Fiat rails are always a big obstacle to conquer but as time goes on and regulations become more transparent, it should open doors

At first, it will purely be based on crypto2crypto transactions. BTC/ETH/USDT/and others to start as our target audience will consist of users in crypto already. This isn't a plot to target the mass public... yet. We have big plans to work with major consumer centric businesses that will open doors to adopt blockchain and the EUM token for their own benefit.



In regards to product, not only are we offering a traditional crypto card, but we will offer the very first crypto CREDIT card. For stakeholders holding a masternode, they will have the opportunity to obtain one of these cards and be issued lines of credit.

FURTHERMORE, thank you! The 'preview' button has been my best friend learning how to properly quote people in the discussion.

[elitium.io]

As mentioned, you can find more information on the credit card itself. I haven't seen any other business provide lines of credit via crypto and we are aiming to be the first. You can read more about the introduction to one of the many offerings. Aside from 'competitors' as you will, our audience will be able to benefit from more than just lines of credit, as other major card companies offer additional services.

You can read more about it here: https://www.elitium.io/discover/credit-card

This will differ by country as mentioned, but the aim, of course, it to gain mass appeal throughout the entire globe. This is not an overnight success by any means.

[holydarkness]

FURTHERMORE, thank you! The 'preview' button has been my best friend learning how to properly quote people in the discussion.

Ahh yes LOL, it seems I just make you even more confused, because the quotes are now a bit chaotic. I'll snip everything to make it easier for whoever follows this thread.

Great question.
~snip~

I am not sure how will these regulations change over a short time span (one or two years, I mean), given that these countries are quite strict on money regulations. Yet at the same time, mass adoption of emoney and fintech brought a huge force that's almost impossible to resist.

In other note, wouldn't it be easier to attract people if you sell your product as an app? There are a lot of cashless transaction providers that didn't offer a card, they simply require the user to download an app, top it up with some credit, and the service is ready to use. No need to wait for a mailed card etc.

[elitium.io]

Great question.
~snip~

I am not sure how will these regulations change over a short time span (one or two years, I mean), given that these countries are quite strict on money regulations. Yet at the same time, mass adoption of emoney and fintech brought a huge force that's almost impossible to resist.

In other note, wouldn't it be easier to attract people if you sell your product as an app? There are a lot of cashless transaction providers that didn't offer a card, they simply require the user to download an app, top it up with some credit, and the service is ready to use. No need to wait for a mailed card etc.

Given the current situation everyone is facing as a whole, we can foreshadow a cashless economy in the future.

It's not only a card, but our app is a major focus. A solid UI/UX is imperative when it comes to acquiring users (and to keep them!). If there is anything we've learned from the ICO boom to this DeFi wave, positive user experience comes from a workable, clean UI and results in driving user adoption. It follows that meme of the horse drawn 3 different ways representing the whitepaper, production, to the MVP.

Although contactless pay like Apple and Android pay are great, you still need a physical card. Virtual cards are great, but there are some security risks in having them. It's like having a Ledger VS a Coinbase wallet (kind of). The Ledger remains more secure as you carry your keys physically versus in a centralized cloud from a major provider.

Some countries, esp in Asia, have not adopted contactless pay. However, with the pandemic rising, everyone simply wants to exchange hands-free, which could result in the adoption of contactless payments. Time will tell.

Apps are important and our key focus will be around our UI/UX. We will also carry a virtual wallet that aims to launch around Q1 2021.

[elitium.io]

DeFi is a powerhouse and is not stopping. Elitium is building one of the most straightforward and effective staking platforms in the market.

Our partnership with Bitmart does not simply stop at a listing. We're offering more than 6% in rewards on our partner exchange to reward and incentivize the communities to take part in something big. All you have to do is hold EUM in your Bitmart wallet. How easy is that?

Check out our latest blog announcement to learn more about taking part in this opportunity and earn residual rewards.

Read more here: https://www.elitium.io/blog/how-to-get-up-to-6-5-eum-rewards-on-bitmart

Big thanks to our partners at Bitmart for facilitating this campaign with us. Happy staking!

[mu_enrico]

I stumbled upon this thread and found something interesting about tokenizing New York City hotel using Elitium Capital, this concept precisely what I like.

Imagine you create a company as DAO and issue shares over DeFi, do the voting as a shareholder, earn profits in stablecoins, can trade stocks freely without 3rd party market maker.

The question is, how about regulations in the US, compliance with SEC and stuff. How far is the process of acquiring the required licenses from getting approved? Is this only a profit-sharing scheme or also delegates voting/control or proxy voting?

[PAMPT]

To be sure if I get them correctly, so instead of the whole continent like Europe or the whole country like USA, Asian market will be on selected countries based om the regulations? In your prediction, how will this affect the market preferences? Won't countries without the card "privileges" be hesitant to adopt your token as they're not that.... functional?

Doing business in the US is a very sporadic and timely process. Asia is easier to jump into and a lot of countries love the western paradigm their bringing to the table.

PLUS, it is easier to gain access to Asia when shipping cards globally. US is also a toughy unless you have a direct partnership with VISA or Mastercard, which very few have right now. It took Wirex only 6 YEARS to make this happen. For Elitium, it might be even sooner given how we've seen these fintech giants react to the markets.

Let's see first if they can conquer the market in Europe or USA, because once they are successful in those countries, expanding their network in Asia will be easy. We have seen a lot of these projects but their actual presence in the market is usually a failure. Not many users are actually using this crypto card. The mission is great but when it comes to implementation, is very hard to accomplish.

They wont, they will get sucker slapped in the cheek by circumstances. This is the boldness of fate which is known to catch you wherever u go, grapple u to the soil to subsequently humble u down. These guys took too much of fancy promise on their shoulder and will yield under its weight. They lack cognizance of this market which is equal to not having wheels on ur car when u go for a ride across craggy landscape.

[Chikito]

where can i get this card 

Seems not yet launched, you need to reserve Elitium Card by input an email address https://www.elitium.io/discover/crypto-card they will notify you when already. also that link you might read any information on what and how to use a card.

[elitium.io]

where can i get this card 

Seems not yet launched, you need to reserve Elitium Card by input an email address https://www.elitium.io/discover/crypto-card they will notify you when already. also that link you might read any information on what and how to use a card.

Thanks Droomie, you're exactly right.

As of this week, we have officially launched the our crypto credit card.

The requirements are simple, as can be found in the PR here: https://www.marketwatch.com/press-release/elitium-launches-crypto-credit-card-with-usd-10000-credit-line-and-cashback-paid-in-gold-2020-09-24

This will be the first card to offer lines of credit to its' customers upon obtaining a masternode and undergoing a simple KYC process. You will be able to find all of the information above in regards to obtaining your own card dedicated towards a more luxury lifestyle.

[elitium.io]

They wont, they will get sucker slapped in the cheek by circumstances. This is the boldness of fate which is known to catch you wherever u go, grapple u to the soil to subsequently humble u down. These guys took too much of fancy promise on their shoulder and will yield under its weight.

They lack cognizance of this market which is equal to not having wheels on ur car when u go for a ride across craggy landscape.

Although many companies have failed doing this, there are few who have conquered the obstacles faced in international expansion. The promise we have to our audience is "fancy" to say the least, but that is the premise to our offering. Nobody said this road was going to be a smooth ride.

The target market we're offering this to absolutely recognizes the value of crypto and its' future. There have been more millionaires made in this industry alone in the last 3-4 years alone than any industry abroad.

[AakZaki]

~snip~

You can read more about it here: https://www.elitium.io/discover/credit-card
~snip~

as I know in my country there is a credit card that says MarterCard or Visa.  while on this card, I can't find it written on the ELITIUM card.  like a credit card that I have a MasterCard and also makes it easier for me to verify my card when I use it in certain market place.  and another one in this ELITIUM card, I don't see any card number there.  can you explain?

[masulum]

as I know in my country there is a credit card that says MarterCard or Visa.  while on this card, I can't find it written on the ELITIUM card.  like a credit card that I have a MasterCard and also makes it easier for me to verify my card when I use it in certain market place.  and another one in this ELITIUM card, I don't see any card number there.  can you explain?

I don't think this card is provided by one of them, In Indonesia we are also have payment gateway called "GPN" that provided by Bank Indonesia, on GPN card you will not see MC or Visa. Same as Elitium card, this card provided  by Elitium it self, i think its not related with visa or mastercard. If someone want to use this card for payment, they need to use such as EDC provided by Elitium or something else (eg. barcode) that supported to accept Elitium card payments. CMIIW



One think that makes me want to ask to the team, in website this card spendable at 46m+ shop, this is already have a cooperation with elitium or just a goals atm?

[mu_enrico]

as I know in my country there is a credit card that says MarterCard or Visa.  while on this card, I can't find it written on the ELITIUM card.

I believe they planned to do a partnership with VISA as stated on WP:

3.3.2 Core Features
The Elitium Card is unique in the sector as it offers a variety of value-driven,
customer-centric services, including:
* Use anywhere that accepts VISA (46m+ merchants)
* Compatible with mobile payments (Apple Pay, Google Pay, Samsung Pay)

Source.

Basically, this kind of project has to choose one of the payment processor VISA, MasterCard, UnionPay, etc. since building their proprietary payment network is an impossible task for a startup CMIIW.

[holydarkness]

as I know in my country there is a credit card that says MarterCard or Visa.  while on this card, I can't find it written on the ELITIUM card.  like a credit card that I have a MasterCard and also makes it easier for me to verify my card when I use it in certain market place.  and another one in this ELITIUM card, I don't see any card number there.  can you explain?

I don't think this card is provided by one of them, In Indonesia we are also have payment gateway called "GPN" that provided by Bank Indonesia, on GPN card you will not see MC or Visa. Same as Elitium card, this card provided  by Elitium it self, i think its not related with visa or mastercard. If someone want to use this card for payment, they need to use such as EDC provided by Elitium or something else (eg. barcode) that supported to accept Elitium card payments. CMIIW



One think that makes me want to ask to the team, in website this card spendable at 46m+ shop, this is already have a cooperation with elitium or just a goals atm?

There's a slight misconception here. Visa, Mastercard, or if you may, GPN, are the intermediaries, not the card provider. They acts as a "middle man" to bridge different financial institutions to verify transactions. The card provider themselves are still your own banks. This is where we can put Elitium at, as an equal to your own bank.

For a better understanding, let's say there's a customer who own an account in bank A and a seller who own an account on bank B.

As there are two different (and probably competing) banks, it should be impossible to communicate a transaction happened between the buyer and seller because there is no way bank A and bank B has an integrated system. This is where the intermediaries come: they communicate the transaction happened between seller and buyer to both banks.

Simply put, when buyer swiped their card, the card reader machine (presumably issued by bank B) will read information stored within the card such as issuing bank and account holder name, and forward this information to visa or MC together with the amount that'll be deducted. Visa will then forward this info to bank A to check if buyer has enough money on their account to be deducted. If so, payment succeed. Bank A will deduct the amount from buyer's account and forward this "money" to visa, which will forward them to seller's account on bank B.

In other case, there's a smaller circle where the buyer and seller has an account on the same bank. With this, they don't need an intermediaries like visa or MC as transactions happened internally within the bank. Bank C reads and confirm buyer has enough money, and then move the money to seller's account which also in bank C. But, if this is the case, then the card reader machine usually issued by bank C and can only be exclusively used to read card issued by bank C. If we swipe card from bank A or bank B to this card reader, it'll be marked as an error because C didn't use Visa or MC (or GPN) to forward and receive information from and to bank A or B. This, in a way, related to the later part of Masulum's post.


As for the second part of Masulum's post, I believe they refer to Visa's merchant, as evidenced by mu_enrico's quoted text, and not shops and companies which already partnered with Elitium