ECOMI: REVOLUTIONIZING THE BLOCKCHAIN INDUSTRY THROUGH ITS UNIQUE ECOSYSTEM

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INTRODUCTION
Blockchain, which is popularly known as the technology at the heart of bitcoin has
proven to be a very promising way to facilitate electronic payments. It has the
potential to revolutionize business and redefine economies by impacting every
major area of business from accounting to operations. Why is blockchain so crucial
to the future of businesses?
 It can record transactions between two parties efficiently and in a verifiable
way.
 With blockchain, we can imagine a world where contracts are embedded in
digital code and stored in shared databases where they are protected from
tampering.
 Individuals and organizations would freely transact with one another with little
friction.
In a fully decentralized environment such as blockchain, single points of failure are
non-existent. When accessing information you own, only your authorization can
obtain the requested information. This is extremely powerful when protecting data,
assets, and personal information. Currently, all blockchains’ distributed ledgers
require the use of some form of private and public keys to perform actions.
Blockchain technology powers the creation of smart contracts, which is capable of
governing arbitrary interactions. Although, it has great potentials, there are
disadvantages to it.
 It can be very easy to lose assets your private keys protect if correct measures
are not taken to protect it.
 Converting cryptocurrencies into fiat money (i.e. USD, Naira, etc) has been a
challenge for individuals.
The mainstream adoption of cryptocurrencies has been difficult due to the inability
to quickly and conveniently convert cryptocurrencies into fiat money. This makes
it difficult for individuals to actualize their cryptocurrencies in the ‘real world’.
While some exchange platforms are available, most are lacking in security and can
be challenging and complicated to use, making them inaccessible for the masses.
ECOMI aims to solve this issues with the ECOMI One, its second product release,
which will allow users to store and spend a large number of cryptocurrencies