ELSOL launches blockchain platform to help startups succeed

Sixty percent of startups finally end up dying due to poor advertising and marketing strategies among many other reasons, and among the 40 percent surviving are many who struggle with tough competition especially in regard to the wild west of online marketing. Many startups struggle continually due to expensive budgets made worse by expensive ads, sponsoring of content, and expensive influencer-based promotions.

At the same time, these startups are struggling with little incomes and are therefore unable to invest good amount of money in advertising and marketing. Thus any startup should understand the inefficiencies in the current online marketing systems and ad platforms and learn how to overcome them. For instance, these inefficiencies, ad fraud and other problems make them unable to target the right audience in the ad campaigns and when they advertise, they can't derive full value for the money paid in addition to the fact that it is hard for legacy ad platforms to account for money spent by advertisers in relation to the value they offer.

At the center of a probable solution should lie a transparent ecosystem for all participants including the startups, advertisers, content creators, bloggers and consumers. Basically, such a system would help the marketers and brands to save on marketing expenditures while deriving near-full value for the money invested in advertising and promoting products.

ELSOL, which is one of the leading brand publishing firm in the world, has launched a blockchain-based platform known as INFLEUM, which is a decentralized advertisement-commerce/trading combined platform to help startups earn more profits and to make the most of their marketing strategies and ad campaigns.

The publishing platform will basically allow the interaction of advertisers, customers, content creators, and startups such that each will derive better value from the platform that legacy ad platforms. Any user can participate on the platform in any of these role at any given time without limitations. The platform will deliver better value by addressing all the shortcomings of the conventional marketing strategies for instance by helping users to avoid "unnecessary interventions and commissions" and costly third-parties. It will provide such services such as wallets, dApps, social networking, advertising, commercial features, crowdfunding, and content publishing. 

Therefore, a user can take advantage of these features to develop a startup from crowdfunding to marketing to distribution. The company launched a project called Project REDI which has 8 solutions that support start-ups from logistics, marketing, monitoring to mentoring. These solutions mirror INFLEUM’s eight initial DAPPs (Redito, Redink, Retteb, Redinero, Redichek, Channeljoy, Socu, and Reditail) that allow for interaction of investments and consumption on the platform.

The platform will record user participation and activities and these are used to assign measurement values to both the producers and consumers. For instance, consumers and content creators are rewarded with Infleum tokens based on this value. These tokens can be spent on a variety of services on the platform.

Advertisers, who will be able to derive better value of their ads because of the measurement of influence value, can spend tokens to pay for their marketing campaigns. Hopefully, they can leverage interractions to buy ads more cheaply. The platform will measure user participation within all stages of brand publishing ecosystem cycle: investment, network, marketing, sharing, consumption, and payment. Hence analytics might help it to deliver better value to advertisers.

Infleum will have three primary features as wallet service where users can store and hold Infleum cryptocurrency used as a primary way of payments and to carry out smart contracts; 8 dApps; and the ecosystem with a variety of services (as mentioned earlier including advertising, social networking, crowdfunding etc).

Startups will hopefully derive more benefits in their marketing strategies using the platform than they can using more costly social media strategies and online marketing methods. CEO & Co-Founder of INFLEUM said that the platform will hope to support growth of independent brands on DAPPs, adding that they will integrate new functions that will help connect and reward users.

In addition, it will offer contract escrow for payment of services, smart contract creation, Big-data & AI-based target marketing system; and DAPP development support by provided API, SDK, and more.

ELSOL, which is a Korea-based company, has assisted 29 start-ups, each brand growing by an average of 2305%.

David Kariuki

David Kariuki likes to regard himself as a freelance tech journalist who has written and writes widely about a variety of tech issues that affect our society daily, including cryptocurrencies (see cryptomorrow.com and coinpedia.org); climate change (cleanleap.com), OpenSim and virtual reality (see hypergridbusiness.com). He is currently pursuing a MSc in Environmental Management at Open University. He does write here not to offer any investment advise but with the intention of informing audience, and articles in here are of his own opinion. Anyone willing to use any opinion here as advise to invest in crypto should obviously take own responsibility and accountability of their losses (or benefits) thereof. You can reach me at eqariu@gmail.com or david@cryptomorrow.com