OMNITUDE: The Ecommerce Revolution by Blockchain Technology
Introduction
Ordering Your Favourite book has never been easier. Online retailing has changed our buying habits. Now we buy at the click of the mouse or with a touch on the screen. The choices are abundant in the online marketplace which sometimes makes people confused. But, e-commerce has only boosted the morale of market and people in the development of a sustainable commercial ecosystem on the Internet. Amazon has recently opened world's first cashier-less shop which is a little ironic given the fact that it is among the leaders of the online retailing. Alibaba is another online retailer which is creating enough headwinds into the future of payment and automation to create a sustainable future for its company.
The rise in e-commerce has created an upsurge in the number of different kinds of frauds and theft which results in loss of revenue. The most common types of fraud include Identity fraud, clean fraud, and account takeover and Re-Shipping. People from various countries employ various tactics to fraud the merchants and sellers. 31 billion dollar is the amount which is estimated to be lost by 2020 due to chargebacks, according to a report. The merchants and sellers are finding it tough to control the fraud in the wake of the development of technology which enables easy access to multiple tools to commit such crimes. The online industry needs serious solutions for these serious challenges.
SOLUTION OFFERED
OMNITUDE is here to help the merchants and sellers by providing single identity and single reputation system based on the blockchain technology. It enables the Omnitude Identity (OID) where the customer has to enter his personal identity data only once which is stored on the OMNITUDE Blockchain.
Proof of Interaction helps in the identity confirmation on the OMNITUDE platform. For reducing the shipments of pirated goods in the supply chain, they are introducing Identifiers which are tagged with the items and can be tracked any time. The total ecosystem of e-commerce management is provided on the platform for the Merchants and sellers.
ICO INFORMATION AND TEAM
ECOM Tokens will be distributed to the public to garner participation and growth of the platform. A total of 100,000,000 ECOM tokens are created in which 50 % is available to the public. The attracted funds will help in the development of the platform and marketing across media channels.
OMNITUDE team is a group of experts who have years of experience in the domain of technology and business. They believe integrating blockchain technology in the current e-commerce system will enable rapid growth of the industry.
CONCLUSION
China and America are leading the march in total Global e-commerce sales. 69.1% of total global e-commerce revenue comes from these two countries. They are leading the charge in the total e-commerce sales in the World which is estimated to grow 4.48 trillion dollars by 2021. The key device used for buying on the e-commerce websites is mobile which is 70% of the total e-commerce sales in India and China.
The fact of the matter is absorbing the best possible solution to our problems, which is the key to growth and development. E-commerce is fighting serious challenges and it is high time to experiment with latest tools to monitor their growth and find the optimal path for future development. I think OMNITUDE is offering a comprehensive solution to the merchant and sellers which makes the transaction on the e-commerce platform transparent and trustworthy.
To know more visit:
Website : https://omnitude.tech/
Whitepaper : https://files.acrobat.com/a/preview/75fe0af9-d98b-4002-863c-138b43a131ef
Published By: Kishan748
Btalk profile: https://bitcointalk.org/index.php?action=profile;u=1027561