Omnitude (ECOM)

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Omnitude is a smart eCommerce platform powered by the blockchain tech. It will provide the link between existing eCommerce platforms to blockchain technology.

Joke Name

Omnitude = eCommerce platform

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (ECOM)

Coin or Token

Circulating Supply (57.8 Million)

Total Supply (74.4 Million)

Market Cap Ranking

Review

Omnitude is a smart eCommerce platform powered by the blockchain technology. It will provide the link between existing eCommerce platforms to blockchain technology. That way, current systems will not need to be replaced.

The Omnitude platform and the ECOM Token is committed to staying transparent and open to the community. This will enable everyone to create Omnitude applications that can be integrated with existing application in the supply chain, e-commerce, and enterprise systems.

Crowdsale:

Based out of the UK, the Omnitude Project managed to raise nearly $8 000 000 during the duration of the crowdsale.

Key Features:

  • Platform
  • Solutions

Platform

The omnitude platform is positioned as a middleware facilitating the connection betwenn existing platforms or systems and the Blockchain. Where many companies strive to impose a radical change of system to companies, Omnitude is positioned as a solution to significantly improve their systems by interfacing with them via connectors and APIs.

This positioning should allow companies to adopt the Omnitude solution very easily, since it will bring value to them without revolutionizing their system or platform.

Furthermore, the team is very open to the community on which Omnitude intends to rely for the development of its platform. The platform will offer applications to solve a number of problems, but it relies on the community to provide its own solutions to particular problems. For this, Omnitude will support the community to develop its own application through open documentation, sample code and support.

Solutions

The Omnitude platform provides solutions to the main problems currently facing the eCommerce market:

  • The anti-fraud solution: Omnitude’s two services, Single Identity and Single Reputation, enable merchants to combat identity theft, which is the most common fraud
  • Supply Chain Solution: Omnitude’s Supply Chain solution tracks individual items or shipments (raw materials, components, assembled or finished products, etc.) tagged with identifiers throughout the entire supply chain to the final delivery. Crossing the supply chain, the object will go through milestone or its location will be recorded by trusted “witnesses”. This information will then be written permanently in the Omnitude blockchain. This whole process will rely on smart contracts that will run on each Omnitude node. These smart contracts are responsible for tracking the progress of the object and releasing payments to shippers or suppliers when certain milestones are reached. This whole process will be automatic regardless of the number of parties involved in the supply chain.
  • The Solution for Identity Confirmation: Omnitude’s solution is based on three products: Single Identity, Proof of Interaction and Single Reputation. Single identity aims to reduce the effort of merchants to establish the identity of a customer and allow the customer a simplified and faster registration. Proof of Interaction (POI) is used to establish that a customer has a real history with the merchant on which he is issuing a review. Reputation builds trust between merchants, customers, and suppliers. Thanks to the OID system, the reputation of each player in a transaction is known to all.

Problems:

Omnitude is notably missing partnerships with enterprise clients. For any product, partnerships with companies that are willing to pilot the product lend a huge amount of credence. Particularly in the case of an enterprise solution like Omnitude, a partnership would significantly increase the overall prospects of the project.

Conclusion:

The Omnitude ICO offers an innovative concept to address major inefficiencies in enterprise system management which are ripe for blockchain implementation. Yet at this point in the game, without seeing an MVP or confirming rumored partnerships, we are left to rely on the team and concept when making our decision.

Pros

  • Innovative concept

Cons

  • No direct backing (asset, profits, commodity)
  • missing partnerships
  • Limited exchanges