Startup To Help Traditional Businesses Effectively Embrace Blockchain Technologies

The company says its technology will deliver plug-and-play ease, helping businesses quickly and cost-effectively embrace Blockchain ledger technology, and benefit from enhanced transparency and other features.

"Omnitude is a radical concept in Blockchain. The vision for Omnitude is much bigger than one single application," Chris Painter, the founder and CEO of Omnitude, said in a press release.

E-commerce is early focus E-commerce platforms and retail have emerged as the low hanging fruits for Omnitude's middleware, notably because of its ability to fight fraud and ease payments.

Omnitude's Blockchain technology could help by providing a record of manufacture origin and provenance, helping fight counterfeiting.

Omnitude says its single identity system will help reduce the most usual form of fraud.

Hyperledger forms the underpinning Omnitude's middleware is built on the Hyperledger Fabric, a broad open source industry standard for Blockchain and other distributed ledgers.

Getting up to speed Hyperledger will also add vital speed to transactions on Omnitude's platform.

"That's why we're looking to deliver exchange functionality. Just imagine, through every e-commerce site that runs the Omnitude middleware layer there is a live ledger of customers who wish to move their cryptocurrency into fiat or their fiat into cryptocurrency. That transaction can take place through matching both ledgers simultaneously. The result would be an instant exchange," Painter said.

Proof of concept Omnitude recently signed on two major partners - Switzerland's largest telecommunications provider Swisscom Blockchain and e-commerce specialist CS Cart, which powers around 35,000 online stores in over 160 countries.

ICO to raise $23 mln Omnitude has previously raised $4.2 mln and has an ongoing initial coin offering scheduled to end on April 25.