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

[mu_enrico]

do I understand correctly that the KYC topic you were talking about was the internal KYC done by Elitium and not exchanges' KYC?

Yes, that is correct!

if I only have $0-$200 (let's say maximum number of fund one's account have allowed by gov without kyc is $200) then I can just use that account freely, to test their interfaces and services. Because IMO, having to do KYC right on the first time.of using a service will highly dissuade people to try

Agree! But this world seems to move in the different direction. Mandatory KYC before deposit/withdrawal is everywhere.

2.4. Prepaid cards
The threshold for identifying holders of prepaid cards will be lowered from €250 to €150. Online transactions with prepaid cards will also be limited to a maximum of €50.

Source

That said, it will be beneficial if smallholders don't have to do KYC before reaching the €150 threshold. However, if the exchanges require mandatory KYC for all accounts (I think both STEX and Bitmart did), it would be useless.

Anyways, perhaps their target market is Bitmart traders since staking EUM can be done directly in that exchange.

[elitium.io]

For now, we recommend you to stake on BitMart (better UI/UX and volume than others).

I am not sure KYC required on Bitmart, but when I look percentage stake more than low from EUM dashboard https://www.bitmart.com/staking-detail/en?coin=EUM&reward=EUM Look better on EUM if use same KYC procedure.

Also, Have you tried to create bounty here?. Maybe it can be growing up value and growth.

For Bitmart (and most exchanges) they have verification thresholds. The base KYC is simply confirming email and maybe a phone number. If you'd like to raise your limits, than you will have to provide additional information like gov. issued ID, proof of address, etc.

The Elitium dashboard will be much easier and efficient to stake on, to say the least. V2 will be an absolute game changer.

Also, Have you tried to create bounty here?. Maybe it can be growing up value and growth.

SPEAKING OF BOUNTIES

This thought has been going around the company for quite some time but has to be strategically planned and timed. Our biggest concern is either 1) the tokens earned will be dumped because it is already pegged to a fiat standard (quick cash for some of these hunters) or 2) if we decide to lock the bounty tokens, the community will be enraged because some have little to no patience. We want to be as transparent as possible and provide opportunities for those who can earn value from EUM.

With that being said, it would be interesting to hear your thoughts on how you think its possible to maximize the value of the bounty. Should one of the tasks be to stake on our dashboard instead of the cliché "follow us on a twitter and hashtag #EUM in your next tweet"

Given we have a monetary value attached to the token, people WILL have to work for it. Stay tuned, you guys will be the first to know if we run one.

[elitium.io]

I don't  really follow worldwide's rule of LYC/AML, but as far as I know, KYC were only required after certain amount of funds were sitting on someone's account. If I am correct on this, then maybe Elitium should consider requesting KYC only when user reached these numbers, e.g. if I only have $0-$200 (let's say maximum number of fund one's account have allowed by gov without kyc is $200) then I can just use that account freely, to test their interfaces and services. Because IMO, having to do KYC right on the first time.of using a service will highly dissuade people to try

Most KYC providers issue limits based on your withdrawal volumes (they don't care about deposits lol, just means more AUM for them).

The primary goal will be to keep users engaged on the platform for those exact purposes. Establishing trust before asking for personal info should be a standard in this industry.

Given our trusted KYC provider allows us to do so, this is a great suggestion that I am happy to raise.

Haseeb Awan, former BitAccess BTM provider and our pride and joy Raoul gave some insight on KYC procedures to a journalist at BTCManager recently. Haseeb specifically mentions that point you made, HD, and again, is absolutely right. Our mission is to establish a framework for adoption that keeps people engaged- not dropped at the initial levels of KYC.

@holydarkness I'm impressed with your serious posts on ANN thread, something that I don't see frequently

LOL, thanks. I was interested on this topic

I hope you STILL are! This thread has tons more valuable information because of your input. Thanks HD.

[elitium.io]

"Investment advice often revolves around one phrase. Diversification is key. But what does that mean? In truth, it’s simpler than it sounds.

Diversification means adding a range of products to your portfolio. The act of diversification both spreads risk and lowers your overall risk profile. In other words, it results in less volatile yet equally attractive returns."

Diversifying investments is important and I'm sure everyone here has VERY diverse portfolios.

Read more about our latest announcement regarding our card program. We've partnered up with someone special for our reward-backed card program

Find out who it is:
https://www.elitium.io/blog/why-diversified-cashback-is-the-next-big-thing

[mu_enrico]

This one new to me "Diversified cashback means earning a range of currencies as you spend on a credit card." #claps
So users can get a collection of token via cashback. I think it's a good idea as long as a real crypto fund manager picks the tokens and the proportion, or in other words, he knows what he's doing.

The options are (1) give fiat/BTC cashback and let users create their own portfolio, or (2) diversified cashback. I think I personally go for the (2) for a hassle-free experience,  but some users might prefer (1). It should be easy to add a toggle button between (1) and (2)

[elitium.io]

This one new to me "Diversified cashback means earning a range of currencies as you spend on a credit card." #claps
So users can get a collection of token via cashback. I think it's a good idea as long as a real crypto fund manager picks the tokens and the proportion, or in other words, he knows what he's doing.

The options are (1) give fiat/BTC cashback and let users create their own portfolio, or (2) diversified cashback. I think I personally go for the (2) for a hassle-free experience,  but some users might prefer (1). It should be easy to add a toggle button between (1) and (2)

Some crypto cards offer "cryptoback" or "satback" where you can choose to round your purchase up to the nearest dollar/euro/pound or take a percentage of funds spent back in crypto (primarily BTC). Elitim provides the option to acquire all of the above, primarily gold. We all diversified ourselves into crypto but what about fungible assets?

Caveat made, there is no personal wealth manager on the platform but is in talks for HNWI customers. Our license doesn't permit us to provide this service just yet.

[mu_enrico]

Some crypto cards offer "cryptoback" or "satback" where you can choose to round your purchase up to the nearest dollar/euro/pound or take a percentage of funds spent back in crypto (primarily BTC)

Yea, this is not new. But your "diversified cashback" seems a worth-to-try idea.

It stated: "It could be a mix of dollars, EUM, even gold."
I thought someone would be responsible for creating the recipe, how much % each asset, you know... finance stuff.

Caveat made, there is no personal wealth manager on the platform

My point is, someone knowledgeable should create the portfolio recipe so it can be efficient. If it's random or badly constructed, then the "diversified cashback" will be worse than just sending cashback in the form of BTC/USD/EUR and let users create their own portfolio.

Sorry if too much imagination since I'm currently looking for a local mutual fund and index fund (stocks) and this news a bit tickle my curiosity

[elitium.io]

Some crypto cards offer "cryptoback" or "satback" where you can choose to round your purchase up to the nearest dollar/euro/pound or take a percentage of funds spent back in crypto (primarily BTC)

Yea, this is not new. But your "diversified cashback" seems a worth-to-try idea.

It stated: "It could be a mix of dollars, EUM, even gold."
I thought someone would be responsible for creating the recipe, how much % each asset, you know... finance stuff.

Caveat made, there is no personal wealth manager on the platform

My point is, someone knowledgeable should create the portfolio recipe so it can be efficient. If it's random or badly constructed, then the "diversified cashback" will be worse than just sending cashback in the form of BTC/USD/EUR and let users create their own portfolio.

Sorry if too much imagination since I'm currently looking for a local mutual fund and index fund (stocks) and this news a bit tickle my curiosity

We are actively working on a similar wealth management model that allows you to work on diversifying your portfolio through our alternate gateways (PAXG, EUM and FIAT).

This will include additional support but you'll have to wait until the V2 of the dashboard is live.

Check out a preview below. There are tons of great opportunities as we continue to partner with some of the top companies in the industry on top of other luxury-styled business models.

Let your imagination unfold. It's what helps businesses like ours grow and cater to a preferred audience.

[AakZaki]

I am not sure KYC required on Bitmart, but when I look percentage stake more than low from EUM dashboard https://www.bitmart.com/staking-detail/en?coin=EUM&reward=EUM Look better on EUM if use same KYC procedure.
~snip~

Take a look at the EUM market in Coingecko, it's a bit strange that the data seems incomplete. I immediately opened their smart contract address, apparently apart from BitMart today I saw two more markets. FatBTC and STEX I don't really know if there is any mandatory KYC for transactions in these two markets because I haven't tried it. I only see that the trading volume on STEX is quite large, around 88% of the circulating EUM.

~snip~
Check out a preview below. There are tons of great opportunities as we continue to partner with some of the top companies in the industry on top of other luxury-styled business models.

Let your imagination unfold. It's what helps businesses like ours grow and cater to a preferred audience.

Good progress for Elitium, nice interface. The staking system you create if it's real is a simple way to raise the market price and I really like it. What about the satking reward rules that apply, I think you need to explain for all of us here. Maybe this make me and all interested.

[holydarkness]

Some crypto cards offer "cryptoback" or "satback" where you can choose to round your purchase up to the nearest dollar/euro/pound or take a percentage of funds spent back in crypto (primarily BTC)

Yea, this is not new. But your "diversified cashback" seems a worth-to-try idea.

It stated: "It could be a mix of dollars, EUM, even gold."
I thought someone would be responsible for creating the recipe, how much % each asset, you know... finance stuff.

Umm... this is for Dev, I'm just borrowing your quoted text, LOL.

Dev, I somehow missed this interesting topic when I read them the first time. By gold, do you refer to a physical gold (for anyone curious, we're talking about the bar ones, not the jewelry), or an ETF?

If it'll be a physical gold, I would imagine you'll need to create a dedicated wallet on your platform to collect these micro cashback up to the amount required to buy the smallest possible grammage --I'm not an expert on this, but I think 1 gram is the smallest possible you can buy-- because I don't think any (licensed) seller would be pleased if you tell them there's someone who wanted to uhh... buy 0.5mg of gold.

LOL, thanks. I was interested on this topic

I hope you STILL are! This thread has tons more valuable information because of your input. Thanks HD.

And congratulation for the quoting skill, you managed to compose replies and utilizing them extremely well.

[mu_enrico]

(for anyone curious, we're talking about the bar ones, not the jewelry), or an ETF?

I believe it's PAX Gold (well, as seen on the platform)

PAX Gold (PAXG) is a digital asset. Each token is backed by one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, stored in Brink’s vaults. If you own PAXG, you own the underlying physical gold, held in custody by Paxos Trust Company.

https://www.paxos.com/paxgold/

So decimal is not a problem.

[scolary23]

In the CIS countries, there are problems with cards that work with cryptocurrencies. Those that are launched, after a while, may be blocked when using them, in any of the CIS countries. It is possible that this will not happen with The Elitium Crypto Card, when there is an opportunity to use it.

[elitium.io]

(for anyone curious, we're talking about the bar ones, not the jewelry), or an ETF?

I believe it's PAX Gold (well, as seen on the platform)

PAX Gold (PAXG) is a digital asset. Each token is backed by one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, stored in Brink’s vaults. If you own PAXG, you own the underlying physical gold, held in custody by Paxos Trust Company.

https://www.paxos.com/paxgold/

~snip~

Correct, it's the custodial service offered by Paxos. You can find more information about PAXG, how its stored and how it differentiates from the traditional, physical asset and ETFs.

https://www.paxos.com/paxgold/

Earning returns in real gold is an extremely unique value prop. Especially when you don't have to pack around heavy bars, chains, or build a vault.

[elitium.io]

In the CIS countries, there are problems with cards that work with cryptocurrencies. Those that are launched, after a while, may be blocked when using them, in any of the CIS countries. It is possible that this will not happen with The Elitium Crypto Card, when there is an opportunity to use it.

This is an issue and needs to resolved asap. Unfortunately, a majority of banks and card providers will only send these crypto-friendly cars in EU (mostly) and some in the US. Asia has recently been pulled (aside from Singapore) shortly after the Wirecard debacle. Some providers will lighten up and right now, it's a race to these markets for these issuers.

[elitium.io]

BTCIG Partnership Announcement
_______________________________________________

Must we not forget, we have been working extremely hard to ensure we facilitate the proper partnerships to help Elitium flourish.

If you're at all familiar with the luxury and hotel space, you can learn more about our latest advisor, Mr. Shalal Khan.

"Mr. Khan has been directly responsible for the syndication of over $5bn for projects across the US, Europe, the Middle East, and Central Asia. His funding experience will supercharge Elitium Capital's credibility right before launch."

This recognition only highlights his business prowess. But his arrival brings more than cross-industry expertise. He will unlock unprecedented access to an investor network that will lift Elitium Capital to new heights.

The global tokenization initiative we have planned will be driven forward on a much larger, thanks to our latest addition to the team.

You can read more (and clap for our achievement) here: https://medium.com/elitium/meet-elitiums-latest-business-angel-dda32148c85d

[mu_enrico]

Hey admin, I've just dug through your Youtube post, and I found this:
The Future of Luxury: Meet the Virtual Executive Robot Assistant of the Elitium Network, VERA

How's this VERA doing? Is it still being developed? It's pretty cool but not a word mentioned in this thread... 
It can do a better job than my wife lol

[masulum]

How's this VERA doing? Is it still being developed? It's pretty cool but not a word mentioned in this thread... 

I agree with you, something missing from this thread, VERA will become the feature that very interesting to discuss in this thread. I know, this one of long-term development from team, based on their plan that mentioned on this post, VERA will available by end of 2021, at least we get a "sneak peak" information here.

[holydarkness]

How's this VERA doing? Is it still being developed? It's pretty cool but not a word mentioned in this thread... 

I agree with you, something missing from this thread, VERA will become the feature that very interesting to discuss in this thread. I know, this one of long-term development from team, based on their plan that mentioned on this post, VERA will available by end of 2021, at least we get a "sneak peak" information here.

Jumping in with a small research just minutes before replying to this topic. If dev is serious with this idea --and I have to agree that it is a great feature, not many crypto payment service has this feature--, it probably will not be that difficult that it requires one whole year to develop.

Integrating voice assistant to our phone means we need to co-exist with siri or google assistant, or bixby if we count samsung user. I'm not sure about siri, but android allows us to replace google assistant with other voice assistant of our preference, like... Amazon's Alexa.

Now, Amazon have this project called VII (that's V-I-I, not roman numeral for 7) that basically integrates dozen of voice assistant under Alexa.

As Elitium already have this concept in mind (and roadmap) I would assume they have the general idea of what to do, how to build the app, etc., they can ride VII to achieve this roadmap easier.

Another benefit, that I can imagine, of integrating with Amazon will be an easier access to e-commerce as they're working with the giant e-commerce themselves. Thus, that bag for wivey's birthday is more approachable

[elitium.io]

Hey admin, I've just dug through your Youtube post, and I found this:
The Future of Luxury: Meet the Virtual Executive Robot Assistant of the Elitium Network, VERA

How's this VERA doing? Is it still being developed? It's pretty cool but not a word mentioned in this thread... 
It can do a better job than my wife lol

Hello hello!

VERA's development will take more time since it's based on AI technology (she has to grow up a bit). For now, our focus is to create the a robust blockchain investments / wealth management platform and launch v2 of the dashboard to fully establish the fundamentals of the ecosystem. Once the app goes live, we will start hand-picking luxury experiences you can invest in as well as the implementation of our concierge service solutions. VERA, similar to other AI, is there to help you make or update bookings, request bespoke concierge services, respond to queries about products and services, or simply lend a hand as you go about your day-to-day.

The development is extremely fascinating but is timely, as is any other AI initiative. There will be future announcements regarding VERA as we approach the launch of our V2 dashboard.

[elitium.io]

Jumping in with a small research just minutes before replying to this topic. If dev is serious with this idea --and I have to agree that it is a great feature, not many crypto payment service has this feature--, it probably will not be that difficult that it requires one whole year to develop.

Integrating voice assistant to our phone means we need to co-exist with siri or google assistant, or bixby if we count samsung user. I'm not sure about siri, but android allows us to replace google assistant with other voice assistant of our preference, like... Amazon's Alexa.

Now, Amazon have this project called VII (that's V-I-I, not roman numeral for 7) that basically integrates dozen of voice assistant under Alexa.

As Elitium already have this concept in mind (and roadmap) I would assume they have the general idea of what to do, how to build the app, etc., they can ride VII to achieve this roadmap easier.

Another benefit, that I can imagine, of integrating with Amazon will be an easier access to e-commerce as they're working with the giant e-commerce themselves. Thus, that bag for wivey's birthday is more approachable

Do you know what they mean by "voice agents" when referring to combining these systematic entries? Would it categorize recognized voices based on the household using it?

There isn't any rush to develop VERA as it needs to be structured and presented properly. AI is based off a lot of different algo, esp machine learning. It's like watching a child grow up- you can't rush him to get a job and help pay the bills

Alexa and Siri have made incredible developments within the past few years. However, with VERA, it will help support the same use-case Alexa makes as a virtual assistant. "Hey
VERA, book my next ticket to Dubai!"

There is further information on VERA in a medium blog we released last year: https://medium.com/elitium/https-medium-com-elitium-the-future-of-luxury-97af750f7d58

I can't wait to update you all further with the future developments. The V2 launch of our dashboard will be a game changer to the Elitium ecosystem.