[ANN] [TOKENSALE] Omnitude (eCommerce blockchain) - page 36.

mrbuffet101

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Quote from: janethatesloganpaul on April 07, 2018, 12:45:54 PM

Let us all face that blockchain is really changing the way we make purchases and buy online. Once it has really been adopted on a mainstream level, business-to-business interactions will never be the same.

Ebay, Amazon and even Alibaba and its variants have revolutionised the way we purchase items and the speed at which we are able to have them delivered. It truly is about the convenience and the hassle-free way of living.

With blockchain tech, we can expect a significant disruption with these ecommerce giants as it will innovate how quickly, efficiently and with a great level of security that we can conduct online transactions and purchases.

E-commerce fees and percentage margins are way to big. They can really charge this because they are the source of validity for the transactions. However, blockchain will flip that upside as each node is now a verifier of the transactions taking place. Hence, this eliminates the entire need for a centralised 'giant' to validate each parties' transactions with each other and with the business.

I am glad you brought up ebay, amazon and alibaba because they are the one's that will be most affected by blockchain in the ecommerce industry.

Check this infographic, it is eye opening to see (hopefully the stats are correct):

https://assets.econsultancy.com/images/0001/1382/online-shopping-around-the-world1-e1301325718539.jpg

alyssa.gonzalez29

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Quote from: janethatesloganpaul on April 07, 2018, 12:45:54 PM

Let us all face that blockchain is really changing the way we make purchases and buy online. Once it has really been adopted on a mainstream level, business-to-business interactions will never be the same.

Ebay, Amazon and even Alibaba and its variants have revolutionised the way we purchase items and the speed at which we are able to have them delivered. It truly is about the convenience and the hassle-free way of living.

For sure! hackernoon has a good article on it.

Quote

These fees vary by platform, but the range is generally 10–50% of the total sale price. Retailers build the cuts that E-commerce platforms take into the final price, which leads to higher prices for consumers and less profit for retailers. It’s a lose-lose for everyone except the E-commerce platform.

Furthermore, many of these centralized platforms cut-off direct contact between consumers and sellers. Amazon, for example, allows retailers one follow up email asking for a review and/or checking on the satisfaction of the customer. This drastically reduces the amount of relationship management a retailer can provide. To make matters worse, Amazon employs its own customer service team, who aren’t familiar with the products or company policies. This further adds to the transaction cost and could easily be done by the merchant directly.

Blockchain really can eliminate this model entirely by proposing a decentralised, everyone-monitors-everyone kind of setup.

Even as I said earlier, these giants will either try to oppose this huge shift in the eCommerce world or risk their $22 trillion as of July 2016 being chipped away to blockchain enabled platforms such as the plug-and-play solution that Omnitude is offering....

janethatesloganpaul

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Let us all face that blockchain is really changing the way we make purchases and buy online. Once it has really been adopted on a mainstream level, business-to-business interactions will never be the same.

Ebay, Amazon and even Alibaba and its variants have revolutionised the way we purchase items and the speed at which we are able to have them delivered. It truly is about the convenience and the hassle-free way of living.

With blockchain tech, we can expect a significant disruption with these ecommerce giants as it will innovate how quickly, efficiently and with a great level of security that we can conduct online transactions and purchases.

E-commerce fees and percentage margins are way to big. They can really charge this because they are the source of validity for the transactions. However, blockchain will flip that upside as each node is now a verifier of the transactions taking place. Hence, this eliminates the entire need for a centralised 'giant' to validate each parties' transactions with each other and with the business.

rose8963

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alyssa.gonzalez29

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Quote from: alyssa.gonzalez29 on April 07, 2018, 10:47:32 AM

Quote from: sorrelin on April 07, 2018, 09:52:18 AM

The existing blockchain have problems with the speed of work. Will there be solutions in this area?

Omnitude acts as a middleware that plugs into existing platforms that eCommerce businesses are currently using. Hence, speed of deployment will be radically faster than a grassroots change into blockchain enabled platforms which other companies are purporting to roll out. It is essential that businesses understand the true value of middleware and hence the true value of blockchain to the eCommerce industry. This ensures that (1) accountability (2) security and (3) identity is preserved.

UNCTRAD states that the global e-commerce industry has grown to $22 trillion as of July 2016.... With China, US and Japan leading B2B and B2C sales, the impact blockchain would have on issues like:
- governance and enforceability of contracts
- issues of liquidity and voluntary administration in repaying debts and fulfilling contracts
will not only save immediate costs and collective time spent along the value chain, but legal, financial and consultancy costs that ultimately emanate from issues such as those

UNCTRAD states:

Quote

E-commerce includes both business-to-business (B2B) and business-to-consumer (B2C), respectively valued at around $19.9 trillion and $2.2 trillion each, according to the new UNCTAD data. This trade is mostly domestic, but is becoming more and more international.

UNCTRAD is authoritative as it is formulated by international law through a convention signed by many leading nations on e-commerce. Hence, its statistics are accurate and really put together an idea for the investor as to the piece of the pie that Omnitude really has.

joeysaladzhere

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Here's some benefits of early adoption of blockchain.

Quote

Many businesses like the ease that comes from online payments, but the fees can really cut into profits. Services like PayPal and Shopify charge between 2.9 percent and 4.4 percent, depending on whether the transaction is within the U.S. or crosses national borders. This doesn’t include the many other fees you may face, such as chargebacks and monthly costs.

Some immediate benefits include the reduction of paypal and shopify fees. Those percentages will be smashed in a blockchain network. This is because the nodes verifying the transactions are essentially bypassing the centralised network that Paypal and Shopify have built. This really adds meaning to the word "disruptive" as Omnitude's CEO likes to describe it as...

Even from one of the CEO's own articles

Quote

Built upon complex cryptography, the blockchain effectively provides a permanent, incorruptible and irreversible record. This means, in theory, it leaves no room for fraud of any kind throughout the supply chain. This ability for blockchain technology to provide a full audit trail has made it attractive to multiple industries.

It really shows that the ability for the other nodes and parties along the blockchain to entirely audit every single member makes its appealing to the e-commerce industry.

Quote

On their journey through the supply chain, an item’s location can be recorded at key points by trusted ‘witnesses’ and tagged with unforgeable cryptographic identifiers which are then written immutably to the blockchain.

This is so key when determining the rights of each party in a "he said, she said" situation. Ultimately, it comes back to the idea that governance and enforeceability of contract are at the heart of teh benefits that blockchain has to offer.

rollingindividends

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Quote from: loretta75 on April 07, 2018, 11:13:29 AM

Large scale adoption on the other hand has a lot of roadbumps before it truly does arise to the top of all CFO's minds...

Forbes (not too big a fan) states that:

(1) education is the first obstacle
(2) scaling

These are issues that Omnitude will have to face down the track. However, since they are really a "plug-and-play" middleware, a lot of SMEs will benefit just because the deployment time is minimal.

Yep i have an issue with Forbes too.

However the big thing is governance of contracts and interactions between parties with paying customers and within a private network.

Harvard Business Review goes ahead to predict:

Quote

If bitcoin is like early e-mail, is blockchain decades from reaching its full potential? In our view the answer is a qualified yes. We can’t predict exactly how many years the transformation will take, but we can guess which kinds of applications will gain traction first and how blockchain’s broad acceptance will eventually come about.

Omnitude has to play the long game, meaning that investors in the coin will reap rewards so long as ecommerce applications are continually adopting its middleware.

loretta75

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Quote from: 2chandwaney on April 07, 2018, 11:02:16 AM

Quote from: sorrelin on April 07, 2018, 09:52:18 AM

The existing blockchain have problems with the speed of work. Will there be solutions in this area?

What kind of problems are you talking about? Operations are quite fast, these are new technologies that will improve over time. All shortcomings will be further developed, with time.

That is no doubt true. Shortcomings will be developed and patched and overcome. Afterall the hyperledger fabric that the linux foundation developed as a 1.0 variant has had significant changes since. Its adaptability has been increased and now Omnitude's pioneering into the plug-and-play world of blockchain solutions.

It has a big task in its creation of the middleware as the platform provides operators with a hassle-free solution enabling the integration of technology into their systems. It assures that adoption runs smoothly.

Large scale adoption on the other hand has a lot of roadbumps before it truly does arise to the top of all CFO's minds...

Forbes (not too big a fan) states that:

(1) education is the first obstacle
(2) scaling

These are issues that Omnitude will have to face down the track. However, since they are really a "plug-and-play" middleware, a lot of SMEs will benefit just because the deployment time is minimal.

2chandwaney

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Quote from: sorrelin on April 07, 2018, 09:52:18 AM

The existing blockchain have problems with the speed of work. Will there be solutions in this area?

What kind of problems are you talking about? Operations are quite fast, these are new technologies that will improve over time. All shortcomings will be further developed, with time.

parkscaroline838

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Quote from: alyssa.gonzalez29 on April 07, 2018, 10:47:32 AM

Quote from: sorrelin on April 07, 2018, 09:52:18 AM

The existing blockchain have problems with the speed of work. Will there be solutions in this area?

Omnitude acts as a middleware that plugs into existing platforms that eCommerce businesses are currently using. Hence, speed of deployment will be radically faster than a grassroots change into blockchain enabled platforms which other companies are purporting to roll out. It is essential that businesses understand the true value of middleware and hence the true value of blockchain to the eCommerce industry. This ensures that (1) accountability (2) security and (3) identity is preserved.

Interesting answer...

I have researched a lot on identity theft within the eCommerce world. I am quite impressed by the theory behind how blockchain utilises a decentralised network to engage various nodes to validate transactions and exchanges of value.

Researchers at Universiti Teknologi Malaysia have quoted

Quote

Types of personal identifiable information (PII) include Social Security numbers (SSNs), driver’s license numbers, government identification numbers, alien registration numbers, email addresses, taxpayer identification numbers, financial records, credit card numbers, passport numbers, employer identification number, electronic identification number, and criminal history. It also includes unique
biometric data (fingerprints, retina scans, facial geometry, iris images, and other unique physical representations), patient identification numbers, and medical records [1].

Source: https://www.researchgate.net/profile/Atefeh_Tajpour/publication/320006684_E-Commerce_and_Identity_Theft_Issues/links/59c708e1a6fdccc7191ed860/E-Commerce-and-Identity-Theft-Issues.pdf

This is not even an exhaustive list of types of identity fraud. Blockchain tech and ultimately Omnitude's middleware has a large task to ensure that all types of identity fraud are kept at bay...

alyssa.gonzalez29

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Quote from: sorrelin on April 07, 2018, 09:52:18 AM

The existing blockchain have problems with the speed of work. Will there be solutions in this area?

Omnitude acts as a middleware that plugs into existing platforms that eCommerce businesses are currently using. Hence, speed of deployment will be radically faster than a grassroots change into blockchain enabled platforms which other companies are purporting to roll out. It is essential that businesses understand the true value of middleware and hence the true value of blockchain to the eCommerce industry. This ensures that (1) accountability (2) security and (3) identity is preserved.

Dreadtrader

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Now there are startups that are trying to connect or even merge the blockchain...

sorrelin

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The existing blockchain have problems with the speed of work. Will there be solutions in this area?

fgreg2692june

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Do developers participate in or soon participate in any forums or conferences? I would like to listen to the managers.

rocketbit48

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Hyperledger Fabric! .. What is the reason for this choice? Were there other options?

CAraBuss

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Quote from: CAraBuss on April 07, 2018, 07:52:07 AM

Quote from: leholmes12 on April 07, 2018, 07:47:20 AM

Quote from: CAraBuss on April 07, 2018, 07:42:15 AM

Quote from: leholmes12 on April 07, 2018, 07:37:11 AM

Quote from: CAraBuss on April 07, 2018, 07:32:04 AM

I would like to know more about the past of the project and the existing developments. I hope the project will not be built from scratch, when the funds will be collected?

You will be surprised, but the project already has a ten-year history! Omnitude is a blockchain project created from an existing e-Commerce company. Over integration problems, the team has been working all the last years.

And what was achieved?

Significant competencies! Developers are well aware of the industry inside and out, there are many employees who know this sector very well, and more importantly, there are many corporate customers who are waiting for access to Omnitude.

I've seen some blockchain projects that did not have enough knowledge and competencies for the direction of the detachments ... What's worked out here?

Whose words are these?

leholmes12

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Quote from: CAraBuss on April 07, 2018, 07:52:07 AM

Quote from: leholmes12 on April 07, 2018, 07:47:20 AM

Quote from: CAraBuss on April 07, 2018, 07:42:15 AM

Quote from: leholmes12 on April 07, 2018, 07:37:11 AM

Quote from: CAraBuss on April 07, 2018, 07:32:04 AM

I would like to know more about the past of the project and the existing developments. I hope the project will not be built from scratch, when the funds will be collected?

You will be surprised, but the project already has a ten-year history! Omnitude is a blockchain project created from an existing e-Commerce company. Over integration problems, the team has been working all the last years.

And what was achieved?

Significant competencies! Developers are well aware of the industry inside and out, there are many employees who know this sector very well, and more importantly, there are many corporate customers who are waiting for access to Omnitude.

I've seen some blockchain projects that did not have enough knowledge and competencies for the direction of the detachments ... What's worked out here?

These issues are resolved through cooperation with Swisscom Blockchain AG. I quote the source: With Swisscom Blockchain, which has proven itself in the field of technical expertise, DLT experience and infrastructure, Omnitude has chosen one of the strongest technical partners in Switzerland.

CAraBuss

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Quote from: leholmes12 on April 07, 2018, 07:47:20 AM

Quote from: CAraBuss on April 07, 2018, 07:42:15 AM

Quote from: leholmes12 on April 07, 2018, 07:37:11 AM

Quote from: CAraBuss on April 07, 2018, 07:32:04 AM

I would like to know more about the past of the project and the existing developments. I hope the project will not be built from scratch, when the funds will be collected?

You will be surprised, but the project already has a ten-year history! Omnitude is a blockchain project created from an existing e-Commerce company. Over integration problems, the team has been working all the last years.

And what was achieved?

Significant competencies! Developers are well aware of the industry inside and out, there are many employees who know this sector very well, and more importantly, there are many corporate customers who are waiting for access to Omnitude.

I've seen some blockchain projects that did not have enough knowledge and competencies for the direction of the detachments ... What's worked out here?

leholmes12

newbie

Activity: 238

Merit: 0

Quote from: CAraBuss on April 07, 2018, 07:42:15 AM

Quote from: leholmes12 on April 07, 2018, 07:37:11 AM

Quote from: CAraBuss on April 07, 2018, 07:32:04 AM

I would like to know more about the past of the project and the existing developments. I hope the project will not be built from scratch, when the funds will be collected?

You will be surprised, but the project already has a ten-year history! Omnitude is a blockchain project created from an existing e-Commerce company. Over integration problems, the team has been working all the last years.

And what was achieved?

Significant competencies! Developers are well aware of the industry inside and out, there are many employees who know this sector very well, and more importantly, there are many corporate customers who are waiting for access to Omnitude.

CAraBuss

member

Activity: 322

Merit: 10

Quote from: leholmes12 on April 07, 2018, 07:37:11 AM

Quote from: CAraBuss on April 07, 2018, 07:32:04 AM

I would like to know more about the past of the project and the existing developments. I hope the project will not be built from scratch, when the funds will be collected?

You will be surprised, but the project already has a ten-year history! Omnitude is a blockchain project created from an existing e-Commerce company. Over integration problems, the team has been working all the last years.

And what was achieved?

Topic: [ANN] [TOKENSALE] Omnitude (eCommerce blockchain) - page 36. (Read 6808 times)