Oveit

oveit.com

The problem: There is no easy and reliable way to set up closed loop economies and payments. Closed loop economies can empower ecosystems, from festivals to venues to smart cities. However, setting up this type of system has been historically expensive and hard to implement, given the cost of hardware and security concerns. As globalization extends, a new way of empowering local economies needs to be used. We think we can do this with our closed loop payments system, which is based on a combination of private and public BLOCKCHAIN and uses machine learning algorithms for fraud detection and prevention. From a consumer point of view, a local closed loop economy can now be easily set up by just starting an account online and downloading a mobile app. Our solution: OVEIT provides a closed loop payments solution for businesses, events, or local governments. With OVEIT, they can easily become a local payment processor, getting access to local payment processing, decreasing costs, improving revenue, and gaining data insights. We use a combination of private and public BLOCKCHAIN in order to secure and distribute data. On demand, we allow customers to access their data. They can see how funds are used and how they interact with the ecosystem's vendors, marketing sponsors, and more.

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