Omnitude — E-Commerce Industry’s Blockchain Solution

Omnitude: ICO Review

The Blockchain is a technological revolution; the invention has brought to light a series of projects hoping to solve problems that exists in the current world which the current technology hasn’t been able to solve. Sophisticated projects have been developed thanks to the Blockchain innovation and building of smart contracts.
However a lot is still left to be done and I want to introduce a project that solves the very big problems that exists in the E-commerce industry today in an innovative way through the Blockchain Technology.
This project is OMNITUDE.

What Is Omnitude?

OMNITUDE is a blockchain smart platform that connects blockchain technologies, E-commerce platforms and enterprise systems involved in building end-to-end supply chains.
A form of intermediary is needed to properly integrate Blockchain technology into the existing platforms without the need for replacing the existing infrastructure. The Omnitude platform will act as middleware, enabling simple integration of Blockchain technology into existing systems and in doing so, transforming their capabilities.
 Website: https://omnitude.tech/  

The problem:

The common types of problems that businesses face and which the Omnitude platform is providing solutions for are stated below;
  1. E-commerce Fraud
  2. Supply Chain
  3. Identity Confirmation
  4. The Cost of Doing Business

The Innovative Solution: The Omnitude Solution

In a hostile and turbulent environment of fraud, there is more than ever a need for an effective and innovative solution. Omnitude will make the online retail marketplace more transparent, more profitable and more secure.

Core Features

Hyperledger: Omnitude will be built on top of Hyperledger. Hyperledger is an open source, global, collaborative project which is hosted by The Linux Foundation. Hyperledger is a permissioned blockchain protocol which enables business-to-consumer and business-to-business transactions.
Identity and auditability: The Omnitude Foundation will manage user OIDs and authenticate all participants on the network. Omnitude will use a cryptographic certificate to encapsulate a participant’s confidential data. This certificate will be registered with the Omnitude Foundation, which will be able to issue and revoke OIDs.
Private transactions and confidential contracts: Omnitude will conceal identity, transaction patterns, and terms of confidential contacts from unauthorized third parties by encrypting transactions so only the stakeholders can decrypt and execute them.

Why Would I invest in Omnitude ICO? (Personal Evaluation)

For personal evaluation of ICOs, I reference four major aspects of any project namely; the project, the team, the road map and the Token/ICO structure.

The Project:

The Project revolutionary and has been long overdue, there has been a need for a decentralized platform that genuinely helps merchants and protects their businesses.
Omnitude is built on the Hyperledger platform and integrates blockchain technologies into E-commerce and enterprise systems, without the need to replace existing infrastructure. It aims to make online retail marketplaces more transparent and secure by preventing online fraud and resolving other vulnerabilities all along existing supply chains.
I believe this project is going to be in high demand and has all the perks to be a huge success.

The Team:

Omnitude is an open-source project being developed by the Omnitude Foundation.
The Omnitude foundation is a UK-based organization whose mission is to develop and grow the Omnitude ecosystem.
The Omnitude Team has a total of 12 members who are professionals of different fields ranging from marketing, business and Blockchain technology.
 Chris Painter is the Founder and CEO of Omnitude. He served for 9 years as Managing Director of Pixel by Pixel, a web design and development agency that he was instrumental in scaling.
Robert Belgrave is a Founder and Advisor of Omnitude. He is the Founder and CEO of cloud services company Wirehive. He served as an Advisor for Dadi and has held the position of Lead Solution Architect in numerous previous ventures.
The team’s profiles are available on LinkedIn and can all be assessed via Omnitude’s website. I did due diligence and analyzed the team’s background and expertise and by researching their LinkedIn profiles and I believe this is a team that is more than capable of delivering the project. 

The Roadmap:

Looking into the company’s road map it shows the concept creation and in-depth market analysis in Q3 2017. I always look for projects with a working version but the launch of the alpha version of Hyperledger stack has been slated for Q1 2018 which means it will be released in no time. 
The milestones are well spaced out on the roadmap and I believe the team is more than capable of reaching these milestones.
Information about the roadmap is available on the whitepaper;  https://files.acrobat.com/a/preview/75fe0af9-d98b-4002-863c-138b43a131ef

The Token/ICO Structure:

An ECOM token will be launched alongside the Omnitude platform. ECOM will serve as a medium of exchange in the Omnitude ecosystem between the merchants, customers and suppliers. The ECOM token presents an option to realize the potential rewards that ground-floor involvement means for this pioneering project.
The Token sale starts 28th of March and ends 25th of April. Potential investors have to get whitelisted and pass a KYC. The Tokens will be issued within two weeks of the token sale ending and all unsold tokens will be burned.
Ticker: ECOM
Token type: ERC20
ICO Token Price: 1 ECOM = 0.46 USD
Fundraising Goal: 20,700,000 USD
Sold on pre-sale: 4,256,307 USD (15% BONUS)
Total Tokens: 100,000,000
Available for Token Sale: 55%
Min/Max Personal Cap: 150 USD / 25000 USD
Token Issue: WITHIN TWO WEEKS OF THE TOKEN SALE ENDING
Accepts: ETH, BTC, USD

Official:

Conclusion:

From my personal research and evaluation, my rating for Omnitude ICO is a high one and by my standards, this represents a great project.
This is a project which I am looking forward to its full implementation. I am bullish about ECOM tokens and I can see it conveniently making good returns, in terms of value. I personally will HODL the tokens for a long time for higher rewards, and also to use it on the platform.

Disclaimer:

I am not a business advisor and this piece is not meant to be an investment advice. This is my personal opinion about a project I have researched and analyzed. I recommend that you “DYOR” do your own research, join their Telegram community, read the Official Whitepaper and consult your legal adviser before investing in any ICO as they all carry a level of risk. I shall not be deemed liable for any profit or loss on funds invested in this project. Thank you.

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