Omnitude - Radical Concept in Blockchain Ecosystems

With global eCommerce sales reaching $1.86 trillion in 2016 and a projected sales revenue of $4.48 trillion 2021, online retail shopping is one of the largest global markets. However, this industry suffers some serious challenges. For example, 45% of online merchants and suppliers report losses greater than $1 million in revenue due to challenges faced when integrating cross-channel capabilities into their commerce strategy. 

Online payments are a further instance where eCommerce merchants lose out, with an average of 5.65 cents lost per $100 spent due to fraud. The Nilson Report estimates that $31 billion will be lost to the misuse of online chargeback rights alone by 2020. This is not to mention clean fraud (impersonation of legitimate cardholders), account takeovers, identity fraud, and re-shipping scams. From the consumer's perspective, fraud may arise from fake reviews and flimsy reputation systems which create an allusion of trust - research suggests up to 1/3rd of online reviews are phony and serve to bolster the merchant themselves or damage the reputation of competitors.

What is Omnitude

Omnitude is a middleware layer allowing eCommerce businesses to adopt blockchain quickly and efficiently, without needing to replace current systems.

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. Utilising Omnitude as an integration layer between existing systems enables rapid deployment of blockchain technology without the need to replace current systems.

Omnitude help eCommerce

• Up to 5% of goods imported into the EU last year were counterfeit versions of genuine products.
• In 2016 for every $100 spent through eCommerce, fraudsters stole 5.65 cents.
• Currently payment gateway providers typically charge 2.9% to use their services. 
• CMS, ERP and WMS integration can be extremely expensive and take many, many months.

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.

A middleware blockchain platform that works for every eCommerce business and their customers.

• Big Business.
  Big enterprise businesses have complex WMS, CMS and ERP systems that have been put in place by differing providers at different times in their growth. This means that getting them to speak to each other is a long, expensive and painful process whilst being a resource and cash drain. We offer a fast, cost effective and secure blockchain middleware platform that helps push,pull and merge data.

• Small Business.
  Small businesses cannot afford to invest in these complex systems so will never truly be able to compete with the big boys in terms of managing their data to deliver business information. Our platform enables small businesses to adopt blockchain technology, cost efficiently and at speed enabling users to create bespoke applications, tailored to their own business needs

Features Omnitude 

1. Fast deployment of blockchain technology: The Omnitude platform will act as middleware, enabling simple integration of blockchain technology into existing systems and in doing so, transforming their capabilities.

2. Private transactions and confidential contracts:  Omnitude will conceal identity, transaction patterns, and terms of confidential contacts from unauthorized third parties by encrypting transactions so only the stakeholders can decrypt and execute them. In this way Omnitude will allow for competing business interests (or participants requiring private, confidential transactions) to exist on the same permissioned network.

3. Hyperledger: Omnitude will be built on top of Hyperledger, the open source, global, collaborative project hosted by The Linux Foundation. Hyperledger is a permissioned blockchain protocol which enables business-to-consumer and business-to-business transactions.

4. Omnitude & Community Apps: Omnitude technology will enable a wide variety of different applications to be built.

The Omnitude team will build its own, whilst supporting the community to develop their own, through open documentation, example code and support.

5. Identity and auditability: The Omnitude Foundation will manage user OIDs and authenticate all participants on the network. It will be possible to use access control lists to provide further layers of permission through authorization of specific network operations. For example, a specific user ID could be permitted to invoke a smart contract application, but blocked from deploying a new smart contract.

6. Solving Problems via our own apps:  Some specific issues within eCommerce that Omnitude technology will solve are:

• Online payment fraud (two-thirds of Card not present (CNP) transactions are fraudulent)
• Counterfeit & Pirated Goods in the supply chain (86% of retailers say their sales are hurt by phoney goods)
• Identity confirmation (multiple logins supplying the same information across different retailers)
• Transaction fees (approx 2.9% per transaction is spent on fees for gateway providers)

Principles

Collaboration:  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.

Adoption : 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.

Innovation:  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.

Accountability:  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.

Revolution: 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.

Token Detail

The ECOM token is a utility token launched alongside the Omnitude platform and ecosystem. Merchants, customers and suppliers will earn and purchase ECOM within the Omnitude ecosystem. The token will serve several primary functions:

• A native method of settlement between parties to access the system and it’s resources.
• An incentive for ecosystem participants to operate and secure the ecosystem.
• A means to raise funds for the long-term development of Omnitude.

Token price: 1 ECOM = 0.46c

Total supply: 55 000 000 ECOM

Token : ERC20

Platform: Hyperledger

For Information

Website: https://omnitude.tech/

Reddit: https://www.reddit.com/r/Omnitude/

Telegram: https://t.me/joinchat/GvyX0g8PC7_JsyUu0fruUw

Facebook: https://fb.me/Omnitude.tech

Twitter: https://twitter.com/Omnitudeorg

Linked: https://www.linkedin.com/company/11320641/

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