Omnitude

About Omnitude

Omnitude was a United Kingdom-based entity founded in 2017 by Chris Painter, Robert Belgrave, and Vladimir Kalynyak. The company positioned itself as a middleware solution provider aiming to integrate blockchain technology with existing enterprise systems, particularly within the e-commerce and supply chain sectors. The venture emerged from the founders' experience in enterprise e-commerce, where they identified difficulties in system integration. Co-founder Chris Painter previously served as Managing Director for a web design and development agency, while Robert Belgrave was the founder and CEO of a cloud services company.

The core of Omnitude's business was to function as a plug-and-play middleware layer, built on Hyperledger Fabric, that would allow companies to adopt blockchain functionalities without overhauling their existing infrastructure. This was designed to address several key issues in the e-commerce market: reducing fraud, increasing supply chain transparency and efficiency, and simplifying customer identity verification. The platform offered solutions like 'Single Identity' (Omnitude Identity or OID) to streamline customer onboarding and combat identity theft, and a 'Supply Chain' solution to track items with cryptographic identifiers. It aimed to serve a range of participants in the e-commerce ecosystem, including merchants, customers, suppliers, and couriers.

Revenue was intended to be generated through the use of its native ECOM utility token. Merchants would use ECOM tokens to pay for transactions and access the platform's on-ledger solutions. The company conducted an Initial Coin Offering (ICO) in 2018, raising approximately $11.76 million across its pre-sale and main sale. However, Omnitude faced funding difficulties and announced it was ceasing operations in early 2020, leading to a significant drop in its token value. According to a business data platform, the company is now considered deadpooled.