The diversity and expansion of innovative technology has made a massive impact on all industries of the world, blockchain technology is a new evolution and it's evolving at a fast pace, and we believe the greatest applications are still not conceived. This ground-breaking technology makes information more accessible, cuts off middleman, makes transactions transparent, eliminate the risk of fraud and theft, and efficiently share data and resources securely. Omnitude is pioneering project to revolutionize eCommerce using blockchain technology & ecosystems to address challenges around fraud, identity theft, supply chain & more.

Omnitude is a new eCommerce blockchain project that is here to thoroughly affect the fundamental nature of the whole spectrum of enterprise in eCommerce platforms, it is creating an ecosystem that enable community developers build and deploy blockchain solutions to real world problems, its creating an ecosystem to address challenges around fraud, identity theft, supply chain & more.

Ecommerce Platforms: State of the Art:

As an industry born out of the Internet revolution, the edges of using technology to fuel operations are well known, blockchain technology would allow for a decentralized marketplace to emerge, the inherent cost would provide lower cost for consumers and better rule for retailers. Omnitude is here to tackle challenges faced by current eCommerce systems through blockchain.
We would highlight 5 major challenges face by the current eCommerce systems and how Omnitude proposes to curb those challenges.

1. Ecommerce Fraud:

The Internet is not a particularly secure place. There are two areas of this insecurity. First, the Internet is an open system details of its underlying technologies are freely available to anyone; this simply means the way data passes through the Internet is in the open domain; the consequence is that, theoretically anyone one with the right tool can get hold of the data being transferred online from one computer to another. Secondly, information is widely published throughout the Internet which can be used for criminal activities, hackers can read the details of a credit card passing along a transmission line from a browser to a Web server. Additionally, the centralized system uses centralized databases, this database of user’s data are subject to hacking, and when hacked users safety is compromised.

Omnitude Solution to Fraud:

Omnitude proposes to address all major form of fraud in ecommerce by using a single identity and single reputation, this single identity allows users with single identity on the blockchain which would relieve current ecommerce platforms of the need to keep extensive centralized databases which are prone to hacks. Additionally, the ECOM token is the cryptocurrency used on the Omnitude platform which eliminates the need for credit cards.

2. Challenges in Supply Chain:

A supply chain is a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer. Wikipedia - https://en.m.wikipedia.org/wiki/Supply_chain

Today customers seems to be tired of crowded marts, long checkout lines, infuriating road traffic and all the interrelated shopping hassles without being able to track the quality and location of their cart. Increasingly, customers demand real time knowledge of the location of their packages in the delivery cycle and the quality of the product.

Omnitude Solution to Supply Chain:

Omnitude wants to create a real-time, audit-able, tamper-proof record of a products full journey from the first mile to the customers doorstep, the location of the product would be recorded by trusted witnesses and written in an unable to change mode on the Omnitude blockchain and users can use their smart phone or any internet enabled device to verify the items history and product source. Omnitude would also introduce a Tracker App which allows customers check and verify route of a product, whether it’s genuine or not. Additionally, Omnitude will allow retailers to better match payment with progress through supply chain, merchants will have an improved ability to make staged payments (‘micro-payments’) to counter-parties as their products move along the supply chain.

3. Customers Identification:

Customers must usually provide details about their identity (e.g. name, email, phone, address and payment details), and about their preference information (e.g. style, sizing, delivery times) when transacting online with a merchant. Usually, this information must be provided every time they transact with a new merchant, even though the same information is being provided each time. Additionally, each merchant must expend effort and incur costs to record this data and safeguard it properly.

Omnitude Solution to Customers Identification:

Omnitude single identity will provide an easy to use, quicker and more secured on-boarding experience for customers, customer with Omnitude Single Identity will need to input their data once, which would be verified by merchant encrypted and recorded on Omnitude blockchain, so anytime a customer wants to transact with a merchant, the customer would be able to submit details from the Omnitude blockchain which has been verified. This Omnitude identity that the user entered once and would continue to use anytime he wants to purchase a product on the omnitude platform which would help accelerate and ease the purchasing process, increase customer satisfaction and loyalty.

4. False Product Review:

Studies shows eCommerce product reviews are one of the most trusted source of consumer's confidence in e-commerce decisions, customers depend heavily on online customer reviews for their buying decisions, even when these reviews are written by complete strangers, evidence suggest online customer reviews are now more important than TV ads, branded websites, print ads and media, businesses are under increasing pressure to show positive reviews. However, researchers now estimate that up to one-third of online reviews are phony, systematically biased and posted falsely either by the merchant itself, to boost, or by a competitor, to damage the business involved. The bottom line is that there is no verifiable history of interaction with the merchant reviewing a product.

Omnitude Solution to False Review:

Omnitude platform integrates Proof-of-Interaction which would establish that a reviewer has a verifiable means of interaction with the product they are reviewing, anytime a customer with Omnitude Identity transact with a merchant with an Omnitude Identity, a record will be encrypted and written on Omnitude blockchain, whenever the customer choose to give a review on the product the customer identity would first be verified against the product to verify if he has purchased the product, if he has he would be allowed to write a review on the product. While certain personal details identifying the reviewer could be hidden, other details could be shown to help other customers validate the review, e.g. where the reviewer was based; how many transactions the reviewer had with that merchant, and over what period; and the total value of goods or services purchased across all the reviewer’s interactions with that merchant.

5. Cost of doing business:

The current financial system causes money to bounce around a lot of companies and includes middle men just so it lands from a customer’s hands into the merchants. These middle men all want a cut, one of the big advantages that the Omnitude blockchain brings to the table is that the 2.9% in credit card fees disappear.

Omnitude Solution to Cost of doing Business:

Omnitude will provide an alternative, cryptocurrency-based payment mechanism that eliminates gateway provider fees and replaces them with lower blockchain transaction fees. An ECOM token will be launched alongside the Omnitude platform. Merchants, customers and suppliers will require ECOM, cryptocurrency to participate in the Omnitude ecosystem.

Token Distribution and Structure:

Team

The team look really great with over 10 – 12 years of experience in the supply chain industry and they also have experts from the blockchain industry to see this project through.

Developers

Advisors

Road Map

It's not just enough to conceive an idea, how does this idea follow through to life ?
Below is the road map on how, when and the path Omnitude blockchain would follow to bring this disruptive technology to life.

Community

20,000+ Supporters on Telegram and 14,000+ Supporters on Twitter They have managed to build a community of like-minded blockchain believers who share same idea in the paradigm shift in eCommerce marketplace.

Website : https://omnitude.tech
ANN Thread : https://bitcointalk.org/index.php?topic=2683959.0
Whitepaper : https://files.acrobat.com/a/preview/75fe0af9-d98b-4002-863c-138b43a131ef
Twitter : https://twitter.com/Omnitudeorg
Telegram : https://telegram.me/Omnitudechat

Authors profile link
https://bitcointalk.org/index.php?action=profile;u=1442709;sa=summary