I like how
Omnitude's aim is to lower transaction processing costs between businesses. Eventually, this means the cost of business to be greatly reduced.. however, I am concerned, won't they have capital raising issues???
Overall it definitely will give customers lower fees and I think that's something everyone's talking about.
notes that 8 out of 10 people are willing to put in their CVV code from their credit card into an eCommerce site. Omnitude "blockchain-enabling" any eCommerce site removes this risk of credit card theft or ID fraud with its OID and blockchain verification mechanisms that enable this.
Nearly eight-in-10 online consumers (78%) are willing to enter a security code (CVV) for their credit card but only 57% of merchants require the use of a CVV code for online customer transactions.
It is true, online payment security is a huge concern for practically anyone who buys anything online. If important information is stored, God forbid, in plain text, then people will continually be at risk of potential exposure. About 1 in 2 people have experienced fraud.
These are crazy stats... it is ridiculous how at risk we all are.
I hope blockchain tech will bring a lot of security to the Ecommerce world.... I hope Omnitude has great success...
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It allows anyone to look at any transaction, seeing when it was made between the two parties and if there's the previous history from that one party. It can also help identify whether or not a party is real or not, kind of neat I think.