How Omnitude Project Will Cut E-commerce Fraud?

From buyer’s and retailer’s view the fraud is the worst issue may happen while he pays off to the merchant, every time you intend to buy something online from any e-commerce, you are exposed for fraud.

If you are one of whom always buying their stuff online then you quite aware about your identity, but imagine that you don’t need to send your sensitive data(full Name, addresses, email,…,and payment information) each time you deal with e-commerce!, Omnitude solution will minimize the fraud which may be surrounding the customers. In addition Omnitude solution will serve the merchants and saves the costs and exempt the merchant from any accountability or commitment to secure the buyer’s sensitive data.

Solution

In order to minimize all types of fraud (e-Commerace fraud, Identity theft, chargeback fraud, account fraud, Re-shipping, … etc.) which the buyer may encounter, Omnitude will leverage Blockchain technology, and to inherent the core blockchain services Omnitude ecosystem rely on Hyperledger protocol , the open source, which in turn will facilitates transactions between the traders and the merchants or more accurately between all entities in Omnitude Ecosystem as illustrated below.

What else?

The finance part of the current supply chain is suffering from routine latency, huge cost, delays, and above and beyond it is subjected to rejects due to data inconsistency.

From the particular side that there are fake goods are imported which significantly impacting the sales of the retailers and the buyers.

Customers and retailers both like to know more details about the status of their orders, and the want to get delivery date notification, as retailers wants to receive a delivery confirmation.

In order to solve the issues mentioned above ,Omnitude’s Supply Chain will deliver its solution to enable the tracking of shipments or even individual items as they move along the supply chain involved parties (i.e. from Producers, to assembled goods, to the final customer) .

By tracking the shipments, smart contracts of Omnitude node will release payments to suppliers or shipper as shipment’s progress is achieved, without the need of manual reconciliation or any manual intervention from supply chain parties.so retailer will pay as shipment’s progress in supply chain. Merchants will be able to perform micropayments to counterparties as their products move along the supply chain.

Taking advantage of Blockchain services, Omnitude will keep the location of items and the route to the market in immutable and secured way, so customers or retailers will be able to verify the item’s history whether it matches the sellers claim.

Token Structure

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Ticker: ECOM
Tokens: 100,000,000 ECOM
Inflation: None (no further tokens will be issued)
Private pre-sale cost: $0.40 USD/ECOM
Private pre-sale cap: 10 million ECOM (4 million USD)
Token Sale cost: $0.46 USD/ECOM
Token Sale hard cap: 45 million ECOM (20.7 million USD)

Following 1st round, unsold tokens will be made available to all those registered with each individual able to purchase another $50k USD worth of ECOM until sold out.

This will repeat until the 5th round at which point the token sale will end if still not sold out. In the event that the Token Sale funding cap is not reached, all remaining tokens will be burned.

For more details about participation in Omnitude project, you can sign-up at Omnitude’s website: https://tokensale.omnitude.tech/register

Or you can join to the team on Telegram channel: https://telegram.me/Omnitudechat

If you are curious and want to know more technical details about Omnitude, you can refer to whitepaper:

https://files.acrobat.com/a/preview/75fe0af9-d98b-4002-863c-138b43a131ef

In addition you can refer to bitcointalk forum thread:

https://bitcointalk.org/index.php?action=profile;u=1982149