Omnitude is a Hyperledger-based blockchain connectivity ecosystem that will be able to work with any other blockchain service providers.
March 28th, 2018
May 31st, 2018
Omnitude will be built on top of Hyperledger, the open source, global, collaborative project hosted by The Linux Foundation. Hyperledger is a permission blockchain protocol which enables business-to-consumer and business-to-business transactions.
Omnitude enables businesses to solve problems in ways that were not previously possible without the rise of blockchain technology.
Omnitude will help achieve:
- The creation of transparent and accountable manufacturing and supply
- A significant reduction in eCommerce fraud.
- The enablement of a single customer identity for use across any Omnitude
connected eCommerce site.
- Blockchain integration between enterprise systems such as ERP & WMS.
The Hyperledger architecture provides core blockchain services, on which the Omnitude ecosystem is built. The Omnitude ecosystem will be made up of a variety of entities, including those mentioned above (i.e. merchants, customers, suppliers, couriers and affiliates/referrers).
1) A native method of a settlement between parties to access ecosystem resources.
a. 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.
b. Customers will make payments to merchants using ECOM, cryptocurrencies and fiat.
2) An incentive for ecosystem participants to operate and secure the ecosystem.
a. 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.
3) A means to raise funds for long-term development of Omnitude.
a. 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.
b. 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.