Alluxe: Luxury Global Platform

Alluxe: Luxury Global Platform

 

The digital currency market has drawn some robust inflows in recent time, particularly last year when we saw a surge as much as 1,200%. Several analysts noted that a rising number of institutional investors have been getting involved with cryptocurrencies, and this in turn has been reflected in the total market cap of these assets. The rising number of Initial Coin Offerings (ICOs) has caused the digital currency market to gain value, doing so in two separate ways. First of all, these sales create new value for the cryptocurrency market, as tokens are sold and given monetary value. Second, participating in ICOs involves exchanging Bitcoin and Ether for newly created digital tokens, which in turn provides significant headwinds for these major cryptocurrencies. A new class of rich people has emerged, known as the crypto elite. With money at their disposal, they want to live in affluence and retain their wealth in digital form. But there are hurdles on their way to living such a life because of the disconnect between the growth of crypto and the fact that service, sales and rental of goods sectors are moving slower in this regard. This is because only traders recognize cryptocurrencies as a means of payment.

Problems in the Industry

In the first phase of cryptocurrency adoption – we are in the midst of this now, there is an abundance of skepticism: misunderstanding, misunderstanding, mistrust, historical comparisons that aren’t comparable, government bans and regulatory proposals – and a lot of questions about intrinsic value, lack of a redemption guaranty, risky open source platforms, tax treatment, etc. So, there is a mistrust among representatives of the conservative luxury segment. Additionally, there are costs when one is converting cryptocurrency into fiat money: paying a transaction fee, paying a fee to withdraw a currency in fiat money and overhead costs in form of taxes and fees when paying in a conventional currency. 
Another problem of the industry is disjointed information about premium- class property. In planning their vacation, these elites have to install several applications, search for car, yacht, hotel, etc. all this make the process difficult. Owners of cryptocurrencies want privacy more than ordinary users but suppliers of these luxury goods try to get as much information as possible.

Alluxe is making a difference. 

The platform will be an avenue to purchase or rent property, pay for recreation and luxuries with cryptocurrency.  Alluxe will guarantee these transactions thereby reducing fraudulent practices. The platform brings together all available premium offers in a single service, removing the requirement to contact a variety of services and replacing the functionality of many applications. The team at Alluxe made use of the one-stop shop principle. This is incredible as users can book accommodation, select a car for rent, and purchase a luxury item. Introducing the product to the market will create an ease in locating and interacting with sellers and buyers of luxury goods, while at the same time meeting the desire of users. The intention is also to ensure confidentiality to customers, via the instrumentality of crypto and leveraging on up-to-date technologies for end to end encryption, decentralization, blockchain and smart contracts.




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