- Omnitude will be built on top of Hyperledger, the open source, global, collaborative project hosted by The Linux Foundation. Hyperledger is a permissioned blockchain protocol which enables business-to-consumer and business-to-business transactions.
The Hyperledger architecture provides core blockchain services, on which the Omnitude ecosystem is built. The Omnitude ecosystem will be made up of a variety of entities, including those mentioned above (i.e. merchants, customers, suppliers, couriers and affiliates/referrers).
1) A native method of settlement between parties to access ecosystem resources.
a. Merchants will make payments in ECOM to other ecosystem participants to use the on-ledger Omnitude solutions for Supply Chain Provenance, Delivery Cycle Transparency Data, Single ID, Single Reputation and Proof-of-Interaction.
b. Customers will make payments to merchants using ECOM, crypto currencies and fiat.
2) An incentive for ecosystem participants to operate and secure the ecosystem.
a. The consistency of Omnitude’s immutable blockchain will be guaranteed by a distributed, peer-to-peer network of validating nodes running the Omnitude Core client application. In return for enforcing Omnitude’s Delegated Practical Byzantine Fault Tolerance (DPBFT) consensus algorithm, validating nodes will share in ECOM block rewards.
3) A means to raise funds for long-term development of Omnitude.
a. Through the crowdfunding, the Omnitude Foundation is raising funds for the initial issuance of ECOM, and for the development and launch of the Omnitude ecosystem.
b. The ECOM coins issued during the crowdfunding will be the initial float to bootstrap the ecosystem.
Any party will be able to join the Omnitude ecosystem and earn ECOM. It will also be possible to purchase ECOM in return for fiat currencies or other cryptocurrencies on the exchanges where ECOM are listed.
A ECOM token will be launched with Omnitude on the Omnilayer platform. Merchants, customers and suppliers will require ECOM to participate in the Omnitude ecosystem.
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