Omnitude - ICO Review

The e-commerce industry has witnessed a rapid increase in the past decade with the support of Amazon and Alibaba. Many traditional stores have been forced to file for bankruptcy and apply the Internet. E-commerce revenue is estimated at $ 1.86 trillion by 2016 and is expected to reach $ 4.48 trillion by 2021, making it one of the fastest growing industries. However, the industry is facing problems such as identity theft, counterfeit goods (2.5% of counterfeit goods), supply chain issues, lack of coordination between entities different and other sectors.

Omnitude offers many solutions to improve e-commerce status by providing connectivity between Blockchain technologies and e-commerce platforms. Omnitude will serve as an integration layer between existing systems and enable the rapid deployment of Blockchain technology without the need to replace existing systems.

Omnitude offers solutions for the ecommerce industry:
- Fraud Prevention: Each user enrolled in the e-commerce platform provided by Omnitude will receive a unique identification method that stores his or her important data and information on Blockchain. E-commerce platforms do not need to store this important information on their centralized systems, thus eliminating the threat of identity theft and attacks.

- Reliable products: Omnitude will allow for periodic billing. Therefore, the seller can not collect the prepayment without distributing the product. This will bring the trust of users in the smaller platforms.

- Supply Chain: Omnitude's supply chain solution will allow items or shipments tagged with tracked identifiers as they move along the supply chain. This will create a real-time record, which can be checked against the full journey of the product, from the 'first mile' until it reaches the customer.

- Confirmation of identity: Omnitude's unique identity will reduce the merchant's efforts to identify customers and provide a simpler and faster online experience for customers.

- Unique identifier: Similar to the unique identifier of Tron for entertainment systems, Omnitude's unique identifier will be the anti-spoof reputation for each entity of the e-commerce ecosystem ( suppliers, users, sellers).

Omnitude will be built on Hyperledger. Hyperledger classes, with a permission-based structure that fits in with a platform such as Omnitude. Omnitude will also facilitate the creation of more hierarchical e-commerce-related applications and supply chains on its protocols.

The development of Omnitude will be done in two phases; The first phase will focus on providing connectivity between different entities related to e-commerce and supply chain while the second phase will focus on creating applications for multiple instances. .

Omnitude does not currently have a tangible product, but a proof of concept (or an MVP) will be available ahead of the ICO on March 28.

Token

Traders, customers and suppliers will ask ECOM to participate in the Omnitude ecosystem. ECOM will be used as a payment processor on platforms. Traders will make ECOM payments to other ecosystem participants using Omnitude solutions on their account such as access to the reputation of other platforms, supply chain-related data or Use brand-centric apps built on Omnitude.

Users can pay for the trader using ECOM, other cryptocurrency or banknotes.

The group





Omnitude's website lists the twelve main members of the team and eight mentors.

Founder and CEO, Chris Painter, has served as CEO of Pixel, a web design and development agency that he has contributed to expanding. The company mainly focuses on providing solutions for eCommerce platforms. Another founder, Robert Belgrave, previously created the Wirehive computer service company. He will work as an advisor for Omnitude.

Omnitude also faces the same problem that we have seen in some other Crypto projects. The team is a collection of part time consultants with Omnitude while working on other projects. However, it should be noted that the roadmap says active recruitment will be made once the fund is mobilized at the ICO.

Decision

Blockchain technology has infinite potential for e-commerce and the supply chain industry. Many parties such as manufacturers, integrators, indigenous distributors, warehouse managers, distribution services participate in a single e-commerce transaction. A basic Blockchain-based protocol like Omnitude can gather all of these entities together and make the system much more efficient. The services provided by Omnitude will be more useful for smaller e-commerce platforms. These small platforms will not have to spend a lot of resources to maintain multiple layers of the user database cautiously or worry about its security. Users can also easily trust small platforms based on Omnitude.

We like Omnitude at the conceptual level but would prefer an MVP to demonstrate some basic features (hopefully coming soon). The project also lacks a full-fledged and collaborative staff of technology and business.

Growth potential

- The e-commerce industry is expected to continue to grow rapidly over the next decade. More narrower e-commerce platforms are expected to emerge, which will be the main focus for Omnitude.

- Omnitude scored good in hype because they had 17,000 members on Telegram a month before the ICO. The deep interest in this project can make it easy to reach the $ 24 million hardcap level.

- Omnitude not only focuses on a single aspect of the supply chain and e-commerce, but also provides a broad range of services in the industry. The protocol will also allow application developers to build hierarchical applications for different use cases.

- At the conceptual level, Omnitude is better rated than other companies like Wabi and Walton by focusing on adding e-commerce functionality along with Blockchain integration to the supply chain.

Risk

- The project remains at the conceptual level, and has not yet had an MVP. The team made sure that it was provided before the ICO. -2

- As mentioned above, the team seems to be a collection of consultants who are working on other projects along with Omnitude. Having a full-time team is always desirable when developing projects at this scale. Omnitude has not partnered with any e-commerce platform.

- Larger e-commerce platforms such as Amazon will develop internal Blockchain solutions as the market evolves. This makes Omnitude only smaller players.

- Giants such as IBM and Accenture are developing supply chain solutions using Blockchain. Omnitude faces high competition risk in terms of scale, expertise and visibility.

Conclude:
Omnitude achieved 8.5 / 10. More clarity will emerge when the MVP is launched. Considering the hype around the project, we think the hardcap will be broken, and the demand will remain once the Token is listed, which makes it a great short term investment. However, currently we are not sure about the long term prospects and will understand better about MVP and its next targets. If the implementation is done correctly, Omnitude has great potential in the long run.

Investment details
• Token Type: Utility
• Foundation: Ethereum
• Symbols: ECOM
• Initial value: 1 ECOM = 0.46 USD
• Preale: sold out
• ICO Time: March 28, 1818
• ICO bonuses: None
• Hardcap: $ 24 million for 50% of the 100 million ECOM Tokens

Reference Information
WEBSITE : Omnitude
ANN THREAD : [ANN] [TOKENSALE] Omnitude (eCommerce blockchain)
WHITEPAPER :https://files.acrobat.com/a/preview/75fe0af9-d98b-4002-863c-138b43a131ef
TWITTER : Omnitude (@Omnitudeorg) | Twitter
TELEGRAM : Omnitude Chat
REDDIT : Omnitude • r/Omnitude
LINKEDIN : https://www.linkedin.com/company/omnitude/

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