ECOMI: AN OVERVIEW

The blockchain technology that drives the Bitcoin economy is essentially a decentralized, immutable database of transactions open for anyone to view and validated by a distributed collection of verifiers. The purpose of its design is to ensure that no one can alter any past transaction record. From a purely technical perspective, blockchain accomplish this goal very effectively. This all sounds great so far but the technology has a severe weakness that, until comprehensively addressed, will make blockchain applications very costly in terms of fraud, theft, and legal jeopardy. The fraud weakness lies at the transaction endpoints. In the blockchain scheme, a human being occupying physical space is represented in cyber-space by a public identifier – which helps others find the person’s cyber-space representation – and a private key which is used to digitally sign blockchain transactions. In cyber-space, the private key is the digital identity standing in for a real human being in physical space. However, even though private keys have been affirmed to be a correct security measure for protection of assets on blockchain, it is imperative that these private keys are well protected and secured as loss of private keys is disastrous and could lead to a total loss of valuable information

Another challenge faced by lovers of cryptocurrency is the inability for them to convert their cryptocurrencies into fiat money (i.e accepted currencies spent in their various countries). Although, there are various exchangers that serve the purpose of converting cryptocurrencies, some of them could get hacked or have a complex, not easy to use interface, making them inaccessible to users. In order to solve these above highlighted bottlenecks associated with the adoption of blockchain technology by the masses, a platform named ECOMI was birthed.

ECOMI is secure digital economic system which aims to address the challenges associated with security of private keys, protection of data and information on blockchain and making cryptocurrency lovers have a user friendly experience while converting their cryptocurrency assets into fiat currencies. In order to proffer solutions, ECOMI has invented two major solutions: a secure wallet and ECOMI one cards.

The secured wallet will possess a solid security design that confers a high level of protection for private keys and will have the following features: secure element, host registration, host login, security channel, hierarchical deterministic wallet, secure firmware updates and security protocols. With the secure waller, all private keys would be held offline, hence creation of a gapped security level, thus making the keys optimally secure. The secured wallet also possesses features to make restoration of private keys possible, in cases whereby owner loses their secure wallet, private keys will be recovered using a recovery seed generated during the setup of the secure wallet.

ECOMI one is in form of a credit card which is built on top of the secure wallet technology. It will hold crypotcurrencies, fiat currencies, NFC-enabled debit cards, credit and loyalty cards in one place. The card could be utilized at point of sales to make payment for items and would be accepted as means of payment in stores or anywhere debit cards are accepted globally.

Other products to be offered by ECOMI include:

· Ecomi Exchange

· Ecomi App

· Ecomi Vault

· Ecomi Collect

TOKEN

The token to be used on the platform is OMI token. All decentralized applications and ecomi products would be funded by OMI tokens. Tokens would also be used for making payments to obtain Ecomi one cards and they will serve as a means of gaining access into the ECOMI ecosystem

TOKEN INFORMATION

Token ticker: OMI

Maximum Supply: 1,000,000,000

Total available for sale: 500,000,000

Hard cap: $22,125,000

Soft cap: $5,750,000

Accepted means of payment: ETH

Token ICO Price: $0.05

TOKEN DISTRIBUTION

For more information about ECOMI, kindly visit:

Website: https://www.ecomi.com/

Whitepaper: https://drive.google.com/file/d/1c8LZjH9MwkM48p9kBbw10t4S0fno_z3u/view

Telegram: https://t.me/ecomi

Facebook: https://www.facebook.com/ecomi.ecosystem

ANN thread: https://bitcointalk.org/index.php?topic=3609319

Bounty bitcointalk thread: https://bitcointalk.org/index.php?topic=4213721.0

Writer’s bountyox username: Crypto4ruby