OmniTude — The Next Generation of Ecommerce
What is Omnitude?
Omnitude is a pioneering project to revolutionise connectivity between blockchain technologies and eCommerce platforms & enterprise systems.
The Omnitude platform will act as middleware, enabling simple integration of blockchain technology into existing systems and in doing so, transforming their capabilities.
It will be done in two phases:
Phase 1
The first phase of Omnitude will launch the Omnitude platform, this will enable connectivity between numerous technologies and platforms and allow them to take advantage of blockchain technology quickly and efficiently.
Phase 2
During the second phase, both the community and the Omnitude team will build Omnitude apps to solve speci c use cases. There are already several Omnitude Apps designed for launch that are detailed in the use cases section.
Omnitude technology will enable a wide variety of different applications to be built and the team will build its own, whilst supporting the community to develop their own, through open documentation, example code and support.
Among core futures of OmniTude are:
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. 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.
3. 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.
4. 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.
5. 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.
6. Solving Problems via our own apps: Some specific issues within eCommerce that Omnitude technology will solve are: a)Online payment fraud (two-thirds of Card not present (CNP) transactions are fraudulent); b) Counterfeit & Pirated Goods in the supply chain (86% of retailers say their sales are hurt by phoney goods); c) Identity confirmation (multiple logins supplying the same information across different retailers); d) Transaction fees (approx 2.9% per transaction is spent on fees for gateway providers).
Benefits of blockchain technology
Blockchain technology delivers new periods of conservation and transparency in many areas of our lives. With each new blockchain project being released, consumers are becoming increasingly aware of the level of transparency that businesses can choose.
This will lead to greater demand from consumers for detailed details and access to data, transactions and what is being processed on their behalf. Companies that do not embrace blockchain technology will be left behind in an already competitive market driven by consumer choice.
Omnitude will be built on Hyperledger, the open source, global, collaborative project hosted by The Linux Foundation. Hyperledger is a permitted blockchain protocol that enables business-to-consumer and business-to-business transactions.
Hyperledger architecture provides core blocking services, where the On Country ecosystem is built. The ecosystem unity will consist of various entities, including those mentioned above (ie traders, customers, suppliers, couriers and affiliates / referrers).
1. The original settlement method between parties to access ecosystem resources: a) Merchants will make payments in ECOM to other ecosystem participants to use Omnitude on-ledger solutions for Supply Chain Provenance, Transparency Cycle Transmission Data, Single ID, Single Reputation and Interaction Evidence; b) Customers will make payments to merchants using ECOM, crypto and fiat currencies.
2. Incentives for ecosystem participants to operate and secure ecosystems: The tireless consistency of Omnite’s capchut will be guaranteed by a distributed peer-to-peer network that validates the nodes that run the Omnitude Core client application. In return for implementing the Byzantine Action Delegation (DPBFT) delimiting algorithm, validating the nodes will distribute the ECOM block prize.
3. The means to raise funds for the long-term development of Omnitude: a) Through the crowdfunding method, the Omnitude Foundation raised funds for early ECOM publishing, and for the development and launch of the ecosystem of Oneness; b) ECOM coins issued during crowdfunding will be the initial buoy to bootstrap its ecosystem.
The ECOM token in the Omnitude Ecosystem
A ECOM token will be launched with Omnitude on the Omnilayer platform. Merchants, customers and suppliers will require ECOM to participate in the Omnitude ecosystem.
A native method of settlement between parties to access ecosystem resources: 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. Customers will make payments to merchants using ECOM, crypto currencies and fiat.
An incentive for ecosystem participants to operate and secure the ecosystem: 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.
A means to raise funds for long-term development of Omnitude: 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.The ECOM coins issued during the crowdfunding will be the initial float to bootstrap the ecosystem.Any party will be able to join the Omnitude ecosystem and earn ECOM. It will also be possible to purchase ECOM in return for fiat currencies or other cryptocurrencies on the exchanges where ECOM are listed.
Proposed Token Sale Structure
Ticker: ECOM
Tokens: 100M (Team & Advisors = 12%, Omnitude Foundation = 33%, Pre-sale Investors = 5%, Main-sale Investors = 50%)
Inflation: None (no further tokens issued)
Private pre-sale cost: $0.40 USD/ECOM
Private pre-sale cap: 5 million ECOM (2 million USD)
Token Sale cost: $0.46 USD/ECOM
Token Sale hard cap: 50 million ECOM (23 million USD)
Total sale cap: 55 million ECOM (~25 million USD)
Token sale will require pre-registration with KYC and $50k USD limit per person (final cap still being finalized).
Following 1st round, unsold tokens will be made available to all those registered with each individual able to purchase another $50k USD worth of ECOM until sold out.
This will repeat until the 5th round at which point the token sale will end if still not sold out. In the event that the Token Sale funding cap is not reached, all remaining tokens will be burned.
To learn more:
To join community:
My BTT username: NakiRR