Being outdated in this day and age is so easy. New gadgets and platforms appear daily, the rate is even shocking to those who do not keep up with tech news. Blockchain came out a few years ago and these applications are vast. In almost every sector, there is a tech startup trying to solve a solution or filling up a niche. It has created a lot of possibilities in the tech world and in the real world. E-commerce businesses are also going to be transformed through blockchain technology.
Omnitude is a startup that aims to transform e-commerce businesses by providing middleware that will assist businesses to take up blockchain system quickly and at a cost-effective rate. Through this integration, existing systems in the business will be able to perform even far much greater functions. Because of the blockchain, there are benefits that will result from this quick and easy adoption through Omnitude.
Firstly, blockchain can help in the fight against counterfeit goods through transforming of supply management. A lot of companies lose money in the range of billions is US dollars yearly because of counterfeit products in the market. Omnitude will use smart contracts in its platform and the data storage advantage that blockchain has to track the origin of goods and to also link these goods to the suppliers who sold them. Each product will have all these details available for the seller thereby giving them the opportunity to easily identify counterfeit goods and steer clear from these sellers. It will also make it easy for such sellers to be kicked out of the platform.
To protect against identity theft and to quicken transactions.
Omnitude will give each of their members Omnitude identities. These identities will be unique to each user. Through the Omnitude identity (OID), Omnitude will have a Single Reputation and Single identity system. The OID will reduce the time taken for each transaction. The first transaction will be recorded by the merchant together with specific details as selected by the buyer. Subsequent transactions will thus become easier as all the seller needs to do is to submit the specified details which will confirm to the merchant his or her identity.
These systems will be made possible through the use of ECOM. ECOM is a utility token in the Omnitude platform. It will basically be used to settle payments and as incentives in the platform. Payments in the platform will result from merchants using the Single Identity feature in the platform. Each time they use it they will have to part with a few ECOM. Buyers will also have to pay ECOM when merchants create their specific identifying set of data. Omnitude calls this proof-of-interaction-specific data.
In addition, Omnitude will also host developers in its community who, together with the Omnitude team, will come up with different blockchain applications that can be applied in other economic sectors. Omnitude hopes to grow beyond e-commerce through this program.
Omnitude is having its crowdsale until April 25th 2018. They have a solid plan for the e-commerce businesses around the world. You can help Omnitude build the next phase of e-commerce by participating in this crowdsale. You can follow this link to the crowdsale, https://tokensale.omnitude.tech/register. Omnitude has a lot more to offer as detailed in their whitepaper which you can access via https://omnitude.tech/pdf/Omnitude_Whitepaper_v2.6.pdf. Visit them on their website, https://omnitude.tech/.
blog by Rhinoboy11
Medium: Kifaru Mweusi
Originally published at cryptocurrencyafrica.wordpress.com on April 2, 2018.