Today I interviewed Vitaliy Mengeshev, the Chief Operating Officer of Elementh, to let my readers learn more about him and the blockchain project Elementh.
If you want to read more about the project or participate in the ICO when it goes live April 1st, you can use this link:
Elementh.io
1. What is your position in Elementh and what are your tasks?
I am co-founder and the Chief Operating Officer of Elementh and responsible for directs acquisitions and sales of assets to meet organisation goals. Also together with Sergey Ryabov (CEO) and Dmitriy Bereznitskiy (CTO) I develop and implement growth strategies.
2. What other positions have you had before you got this job?
I'm Chief Operating Officer of MiiiX project that was created in 2012. Its main goal was standardization of nomenclature in the e-commerce market. Elementh is a new level in MiiiX development. Also I was one of the lecturers in IdealMachine and Skolkovo startup acceleration programs. Before that I was the executive director and co-founder of the clothing manufacturer company.
3. What made you decide to implement blockchain into your project and how will you use it to empower your project?
The Elementh’s vision is to create a completely transparent, trusted ecosystem for the e-commerce market, which is built on the blockchain basis, self-regulated and easily scalable.
The Elementh team sees the future e-commerce market as follows:
- Unified product classification standard used worldwide with unique codes for each product item;
- Completely transparent system of market transactions;
- Each participant of the system can fully trust other participants. At that, value contributed by each participant moves to a new level where priority is given to quality of the service rendered by the participants, and not to possession of exclusive information;
- All market participants make their own contribution to the system development and receive rewards for the contribution;
- Blockchain technology works not only as a database, but also sets in business processes of companies;
- All the market is an open transparent base permanently enlarged by inflow of new participants, with high speed of any transactions inside the system.
4. You have some ambitious plans. Where do you see your project in two years from now?
Elementh's goal: To create the unified product classification standard and platform allowing quick setup and scaling of e-commerce projects. I plan the Elementh will become the base and main platform for the whole of the e-commerce in the world. It will simplify the entry to any existing business or the newcomer to the electronic commerce market. And make it transparent to all participants of this market.
5. How will your knowledge and experience make an impact on this project?
I am sure that my great experience in e-commerce and knowledge of this market will help in implementing this project and achieving its global goals. Understanding the business processes of this market and knowledge of the B2B segment will help to find new major partners for the project.
6. What do you think is Elementh's biggest advantages compared to other ecommerce crypto projects? Who do you see as your main competitors?
The direct competitors of the project are the existing online B2B e-commerce projects, such as Indix. In this segment, the Elementh project is innovative using Blockchain and can be used by decentralized marketplaces that use cryptocurrencies for internal payments. Also there are some Blockchain platforms for Ecommerce as competitors for Elementh, for example the VeChain, INS Ecosystem, Connectius, Flipz, StopTheFakes etc. It’s interesting, that some of them are niche products, and all are not really infrastructure platforms but just something like applications for smart contracts for e-commerce. We think that Elementh is more like a infrastructure project and can be used by different marketplaces and platforms.
7. What are your main challenges right now?
We do a big work in researching our blockchain structure right now.The main challenges is also the token sale. We have a lot of meetings with partners, visiting meet ups over the world.
8. Will you use the Ethereum platform when the platform launches or are you considering swapping to other protocols like EOS, ADA or similar?
It's impossible to create this protocol on Ethereum because of scalability and prices.
Also maybe it's possible to create it upon EOS solution, but EOS is not public yet and we're looking at this opportunity as well of course and that would be great, if EOS will start a public solution soon and we can test if it's possible to use them as a backend.
To ensure fast operation of the Elementh blockchain, it is planned to be implemented on DPoS protocol. It will provide maximum speed of the block confirmation and reduce node loads. At the moment, priority is given to the EOS fork.
9. The tokensale tends to be a hard and crazy process. How did you prepare for it?
Well it’s really crazy process, so our team is working 24/7 to make it successful.
10. Scam attempts during ICO's are happening more and more as the space gets more popular. What do you think should be done to secure the investors from potential scam attempts?
In my opinion it is necessary to look through 5 things:
Concept:
It’s important to try to attempt to determine if the project will be able to acquire a share of the market space with their product innovation or services.
Team:
Find out if the team members actually exist.
Technology:
For the more technically inclined, check whether the project’s code is open for scrutiny on github. If it appears to be cloned/copied from another token/app then it is likely to be a scam.
MVP:
Is the project in the idea stage, development stage or perhaps the project has already been launched?
The token:
How will the token be used in the network and is it even necessary?
11. Something else you want to add?
Elementh is a blockchain infrastructure for e-commerce market. Elementh provides all participants of e-commerce market with real-time and historical data on stock inventory and price. It also allows to create decentralized and centralized applications based on Elementh blockchain.Trustless and decentralized nature of the Elementh blockchain allows buyers to find the best deal and sellers to sell quicker.
Thanks to Vitaliy Mengeshev for this great interview.
You can read more about the Elementh ICO and the project on the links below. The ICO is live between April 1st to April 30th if you are thinking about investing.
Read more about Elementh and participate in the tokensale by using the link below:
Elementh.io
Join the Elementh Telegram group by clicking on the link below:
[Elementh Telegram Group](https://t.me/elementh community)
Follow Elementh on Twitter for the latest news by clicking on the link below:
Elementh Twitter