ECOMI – Creating a Digital Economy with Blockchain Technology
Originally published on: CCN
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May 31, 2018
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Even nearly a decade after the first digital currency was unveiled to the world, not much has improved in terms of widespread adoption. The same can perhaps be said for blockchain technology, which offers the radical advantage of decentralization. However, ECOMI is a blockchain company that believes that its range of products and services can solve this long-standing problem by striking the perfect balance between the real world and cryptocurrency or blockchain technology.
ECOMI Collect: Collectibles on a blockchain
The first product it brings to the table is ECOMI Collect, a blockchain-based collectible platform. The project was actually inspired by the well-known Ethereum-based application CryptoKitties, which is essentially a digital and blockchain version of collectible trading. The project turned out to be a runaway success, boasting a user count of over 180,000 and a market cap of around $20 million. ECOMI’s Collect can be viewed as a natural extension of the existing blockchain digital collectible market that is, so far, largely limited to fictional objects.
Instead of trading items with no real world relevance, ECOMI Collect brings users the ability to create licensed – and thus, recognizable – digital equivalents of collectibles. They can then be logged onto the blockchain and be sold or traded to another user. Furthermore, given that collectible customization and interaction is key for such a digital platform, ECOMI is also using augmented reality technology through its mobile app for users to engage with their characters.
The ECOMI Collect platform has already partnered up with the international lifestyle brand tokidoki to bring a digital equivalent of their collectibles onto the blockchain. The team has also stated that two other licensing deals are in the pipeline and will be detailed in an official announcement sometime within the next few weeks.
Other products and services
The second product developed by the company is the ECOMI Secure Wallet. Designed to be a physical, cold storage cryptocurrency wallet, ECOMI believes that its solution is completely shielded from malicious attacks, while still being extremely easy to use. Unlike other hardware wallets on the market, this one is interacted with wirelessly over a secure Bluetooth connection.
Given that secure, cold storage of cryptocurrency assets have always come with the caveat of inconvenience, ECOMI’s Secure Wallet is a radically different approach to this problem while not compromising on safety.
Apart from Collect and Wallet, ECOMI is also working on two other blockchain-based projects. The first product, named ECOMI Vault, is a secure cloud storage service that uses distributed ledger technology to protect an individual’s intellectual property. The other, ECOMI One, is designed to be a unified real-world payment method, allowing the user to pay for virtually anything with cryptocurrency, fiat or other NFC enabled membership cards. ECOMI will use its own inbuilt exchange to facilitate the conversion to a locally accepted currency.
A more detailed description of the ECOMI platform’s inner workings can be found in the white paper published in anticipation of the OMI token sale.
The platform’s native utility token OMI is at the core of ECOMI’s range of products and services and will be sold in the upcoming initial coin offering. While whitelisted investors can already purchase the token in the pre-sale running until the end of May, a public crowdsale is also scheduled to begin starting June 30, 2018. ECOMI has stated that OMI will have a hard cap of five hundred million tokens for the duration of the ICO.