E-commerce is the new way of shopping but still isn’t perfect
If you compare the way humanity was shopping 10 years ago to the way they are doing it now, it’s clear to see just how much the industry has changed. Today, you can quite literally buy everything that you are able to buy in real life, online. And that is what more and more people are doing. Statistics show that the rate at which people buy goods online is increasing year over year. Just look at the enormous growth and market cap Amazon has today. The concept of buying and selling goods online is called e-commerce and is a very attractive industry for businesses as it doesn’t require the same amount of funds it takes to open a physical location. However, there are still things in the world of e-commerce that could be better. A project that aims to improve the industry is Omnitude, a tech company which is going to be offering e-commerce platforms the ability to seamlessly integrate blockchain solution directly on top of their current operations, they don’t even have to switch current systems.
Why e-commerce could benefit from blockchain technology
There are actually a couple of things blockchain could improve in the world of e-commerce. One of them is anti-fraud. Omnitude found that both the genuineness of products and the stealing of funds is a big problem, up to 5% of products imported to the EU last year, actually turned out to be a fake version of genuine products. This could have been avoided with a blockchain based record of manufacturing which Omnitude is developing. Identity fraud is also a major concern for the industry, which is part of the reason why the industry lost around 5.6 cents to fraudsters per $100 in 2016. Another major aspect is transaction fees. As a customer, you don’t really notice this, but merchants are actually paying around 3% to payment gateway providers on every single sale they make. If this was reduced, which is exactly what Omnitude will do, there is a great chance that products will be cheaper as a result.
Omnitude introduction video
Omnitude token sale
Omnitude is running an ICO (initial coin offering) right now, you can purchase their token ECOM at a rate of 1 ECOM = 0.46 USD. ECOM tokens will be used within their ecosystem once the product is released.
Learn more about Omnitude
If you find this project interesting and wish to learn more about it or their token sale, you can visit the following links below and read their whitepaper. To keep yourself up to date on the project, you can follow their social media accounts also linked below.
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