The online retail marketplace has been confidently growing despite the challenges that have been associated with this growth. E-commerce fraud, supply chain problems, and untrustworthy trading parties can all be found in online marketplaces. Removing them from these platforms is not as easy as they camouflage as genuine users of the platform. There was previously no system that could help identify these fraudsters but thanks to blockchain, that and much more can be made possible in these online marketplaces.
Omnitude is an upcoming blockchain platform that will be built on top of Hyperledger which will allow Omnitude to be used as an integration platform where online marketplaces can integrate their systems with blockchain platforms without using a lot of time and other resources. Omnitude works in a way that it describes as ‘plug and play’.
The cost of moving a whole enterprise system from one platform to another can be high, Omnitude will, therefore, provide this safe, transparent and secure option for online marketplace businesses. Moreover, Omnitude will build its own blockchain platform where these enterprises can base their whole network on. The Omnitude platform can support multiple businesses in its blockchain.
The Omnitude blockchain will run on use its token, ECOM, to help run its platform.
The ECOM are utility tokens in the Omnitude platform. ECOM will be used to pay for services within the Omnitude platform. ECOM will also be used as an incentive to encourage Omnitude platform members to participate in the platform’s activities. Omnitude will reward nodes that will be actively participating in the validation of data in its platform. This is necessary as their needs to be a great percentage of participating nodes constantly validating to ensure the platform runs smoothly at all times.
Now, what will attract online marketplace users to Omnitude’s platform are the features that Omnitude has. Its features were developed to counteract the problems common to all online marketplace. Omnitude will, however, have a division that will cater to business-specific problems beyond online marketplaces. Omnitude will have a system which will give each of its users a single identity in the platform. This system is called the Omnitude Identity. Fraud and other identity-related crimes will be nearly impossible with such a robust system in place. This system will be supported greatly through KYC (Know Your Client) forms which will be a requirement in the platform.
In addition, Omnitude, through its platform, will provide a better supply chain experience for online marketplaces and their clients. Products will have historical records to help buyers know the origin of the product. This can be a great way of decreasing imitation goods in the platform. Other supply chain solutions they will offer include product tracking and exact delivery dates for products ordered.
These are still just ideas on paper, Omnitude requires enough funds to create their platform. They have a public ICO that is ending on 25th April 2018. The ECOM tokens are on sale and they will prove valuable in the Omnitude platform. You can join in the sale through the link that will be provided below.
Useful Links
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http://omnitude.tech/ – official website
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https://tokensale.omnitude.tech/register – token sale
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https://files.acrobat.com/a/preview/75fe0af9-d98b-4002-863c-138b43a131ef – whitepaper
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