What is Omnitude?
Omnitude is a radical concept in blockchain ecosystems. A middleware plug and play blockchain built on Hyperledger Fabric, for use across the whole spectrum of enterprise eCommerce platforms. Utilizing Omnitude as an integration layer between existing systems enables rapid deployment of blockchain technology without the need to replace current systems. In bridging the gap between blockchain theory and practice, Omnitude aims to provide quicker, safer and more cost-effective ways to solve a variety of pertinent problems for online retailers, including fraud, supply chain inefficiency, and identity theft, as well as reducing item returns and improving data security. We believe this is one of the aspects that sets Omnitude apart and will drive the success and adoption of our ecosystem.
Omnitude can help achieve:
• The creation of transparent and accountable manufacturing and supply chains
• A significant reduction in eCommerce fraud
• The enablement of a single customer identity for use across any Omnitude connected eCommerce site
• Blockchain integration between enterprise systems such as ERP & WMS
….and many more solutions from Omnitude and the community in the form Omnitude DApps.
How does Omnitude solve these issues?
Up to 5% of goods imported into the EU last year were counterfeit versions of genuine products. Omnitude helps provide a record of manufacture origin and provenance. Ensuring that genuine goods are easily identified whilst highlighting fraudulent copies.
In 2016 for every $100 spent through eCommerce, fraudsters stole 5.65 cents. Omnitude’s Single Identity and Single Reputation will help reduce the most usual form of fraud, Identity Theft.
Currently payment gateway providers typically charge 2.9% to use their services. Omnitude provides an alternative lower cost cryptocurrency based payment mechanism.
CMS, ERP and WMS integration can be extremely expensive and take many, many months. Omnitude’s plug and play blockchain technology allows the quick and cost effective integration of these systems.
These are but a few examples of how Omnitude may benefit supply chains and eCommerce, read more about how Omnitude plans to implement these solutions in our whitepaper-https://files.acrobat.com/a/preview/75fe0af9-d98b-4002-863c-138b43a131ef
Concept of Omnitude
Omnitude is not a single solution blockchain application. It is much bigger than that, our vision for the business is pioneering. Not only do we add value through our eCommerce middleware solutions, we are also driving the mainstream adoption of blockchain technology through the establishment of a blockchain ecosystem.This allows us to share our code, learnings and resources to help kick-start other blockchain start-ups and app development projects whilst enabling everyone to create blockchain solutions. Ensuring that Omnitude as a business can continue to thrive and grow not only in the online retail marketplace, but beyond that, pushing blockchain into the mainstream.
What is the ECOM token?
An ECOM utility token will be launched alongside the Omnitude platform. Merchants, customers, and suppliers will require ECOM to participate in the Omnitude ecosystem.
The ECOM token will serve several primary functions:
1) A native method of settlement between parties to access ecosystem resources.
a. Merchants will make payments in ECOM to other ecosystem participants to use the on-ledger Omnitude solutions for Supply Chain Provenance, Delivery Cycle, Transparency Data, Single ID, Single Reputation and Proof-of-Interaction.
b. Customers will make payments to merchants using ECOM, cryptocurrencies, or FIAT.
2) An incentive for ecosystem participants to operate and secure the ecosystem.
a. The consistency of Omnitude’s immutable blockchain will be guaranteed by a distributed, peer-to-peer network of validating nodes running the Omnitude Core client application. In return for enforcing Omnitude’s Delegated Practical Byzantine Fault Tolerance (DPBFT) consensus algorithm, validating nodes will share in ECOM block rewards.
3) A means to raise funds for long-term development of Omnitude.
a. Through the crowdfunding, the Omnitude Foundation is raising funds for the initial issuance of ECOM, and for the development and launch of the Omnitude ecosystem.
b. The ECOM coins issued during the crowdfunding will be the initial float to bootstrap the ecosystem.
With the meteoric rise of blockchain technologies, integration & collaboration with others becomes more and more resource and time intensive. Omnitude will allow blockchain projects to easily integrate with each other, speeding up development cycles and reducing cost, whilst also allowing for innovation by combining these technologies.
We say it. We do it. We own it. As will our customers and their customers alike. We will help build this world of trust and accountability through ever-evolving technology, but also by the DNA of our business. We will continue to deliver at the very highest level, for you.
Blockchain is already shaping our future. It will change our view of industries as we see them today, as we are on the cusp of a new generation of transparency and openness. We’ve only witnessed the beginning of the blockchain revolution.
Technology is evolving faster than ever before, and we believe the greatest applications are yet to be conceived. These ground-breaking platforms will no longer only be available to their creators or the elite. Everyone will reap the rewards as we make blockchain technology available to everyone, on even terms.
Think it. Discuss it. Refine it. Create it. Omnitude has no anchors and is on a voyage of continual discovery and improvement. To be truly innovative you need no boundaries. We want to have solutions to problems that don’t even exist yet.
Telegram : https://telegram.me/Omnitudechat
Created by Chinedum
ETH Address: 0x1f23fAF845C17F6Ac67054E1B2FA7e15E9c7A9B4