Omnitude ICO Goes Live; Here are 9 Questions We Asked Them
Omnitude is a blockchain powered project which aims to change the way e-commerce currently works. They want to create a platform to unite all stakeholders, including customers, retailers and manufacturers and their solution can work with existing systems.
Their token sale went live today, and here are 9 questions we asked them to learn more about the project.
1. What does decentralization do for the ecommerce sector?
I think a shorter answer would be what doesn't it do?
If you visit Omntiude.tech you will see we have outlined several use cases for the adoption of Blockchain technologies into the world of eCommerce. Decentralisation means the power is put back into the hands of the customer, not the middleman. It means that we can prevent fraud, improve user experience, supply crypto-based payment mechanisms, provide a record of manufacture origin and provenance which reduces counterfeit goods being sold. The list can go on, and on, and on…And that is where our community of developers come into play. If you can think it, they can create it.
2. How do you plan to expand and improve your app?
Omnitude is not an App or a DApp, and will actually operate as a Middleware layer for all blockchain applications relevant for the world of eCommerce. We will create the ecosystem and end points to ensure smooth and cost-effective integrations of blockchain technology for small customers through to enterprise clients. We will continue to empower our community of developers to create their own DApps to serve to eCommerce companies thorough Omnitude. This means that the scalability of our offering is limited only by our imaginations!
3. What role do you have planned for the token to serve on the network?
The token has full utility within the omnitude platform. From investing in Masternodes through to reward specific behaviours. Crypto/Fiat exchange through to bug fixes. The opportunity to ‘bake’ ECOM into the Omnitude system is incredibly exciting.
4. What workable product/features do you have now?
We have our Proof of Concept in production right now. Effectively we are showcasing 4 things. You will be able to:
- Register on one of our three mock eCommerce sites as a customer and add your personal details and preference and sizing information (shirt size, waist measurements etc) to a profile.
- This profile creates an Omnitude ID (OID) that will follow you around whichever Omnitude enabled site you use allowing for easy single signon with Omnitude credentials.
- Test dataflows between systems, using Hyperledger, such as view items in stock (via a call to a WMS) and mock-purchase them, pulling the item out of stock and reflecting real time stock levels across the 3 sites as well as have stock replenished in the warehouse via a live smart contract that will execute to ensure new stock is ordered.
- View a dashboard interface showing full future platform functionality as well as show Hyperledger code and tasks triggered during smart contract replenishment transaction.
The Proof of Concept will launch on the day of the starts of our token sale on the 28th March.
5. Which network have you chosen for your token? Why?
We are building our own Blockchain on Hyperledger Fabric, but until Hyperledger can support its own tokens, we are using an ERC-20 compatible token which will be transferred 1:1 as soon as we can tokenise the platform.
6. What are similar/competitive projects dealing with freelancers and management?
While there are many new companies and projects starting within the ecommerce space, we are yet to identify anyone doing what we are doing with Omnitude.
There are people providing payment solutions, supply chain Dapps, improved customer security and fraud prevention software, however, there are all DApps that can be deployed through our Middleware layer. We are looking to be all-inclusive and collaborate wherever possible.
The wider the adoption of this technology, the faster, transparent and more secure the world of eCommerce will become.
7. How do you envision crypto and token adoption in the coming years?
Blockchain is the technology that underpins these currencies…. This year we will start to see blockchain starting to solve real world issues. Sooner rather than later this will be integrated into all of our daily lives. Cryptocurrencies that have utility will then become commonplace.
8. How do you deal with security and confidentiality matters?
Privacy is something very close to our heart... we come from an eCommerce heritage that understands data protection is king. And being a UK based company, we have to comply with the strict UK data protection laws. We are used to dealing with and protecting sensitive data on a daily basis, it is second nature to us. Blockchain enables us to place an even more effective control on people's data.
9. Anything else you might like to add about your project and how it differs from the competition?
Competition is a word we hear a lot. Who are our competitors? How do we differ? How do we plan on beating the competition?
The short answer is, this is not the year 2000. Competition and secrecy stifle innovation.
As mentioned above, we are creating a collaborative environment to build the broadest range of DApps designed and built by our community (and some of our own). We want to enable other blockchain technologies and so-called competitors to be able to deploy their own solutions through Omnnitude. As such, the word competition is both outdated and not necessary in a new technological world that offers transparency and gives power back to the individual.
The Omnitude token sale went live today and you can learn more about the project or participate in it, on their official website