About Oveit

Photo by Tim Marshall

Using our technology to help communities and the planet

We strongly believe we each share a goal of helping life on Earth be sustainable for all forms of life and help our species develop in a sustainable way. There’s many ways we feel we can contribute but there is one specific goal where we think we can contribute the most.

Our technology contributes to the Decent Work and Economic Growth by offering a viable solution to local vendors and outside visitors in overcoming currency conversions, cash only transactions, inclusiveness in the economic circuit of unbankable vendors and connect the local economy with visitors, while maintaining its cultural heritage.

Oveit contributes to the Industry, Innovation and Infrastructure by offering innovative alternatives of digital payments in both fiat and cryptocurrencies in a safe, secure infrastructure environment. It enhances Sustainable, Cities and Communities by keeping outside visitors’ spending local and creating a sustainable, circular local economy active. It also contributes to the Well-being of the local community by increasing the number of active local vendors participating to the economic circuit. It generates an active Partnership for the Goals by solidifying the partnership between the experience builders such as festivals or hotel resorts and the local attractions, vendors and event planners in the community.

We measure our positive impact in terms of consumers using our digital wallets, and local vendors and merchants using our mobile app point-of-sale. The more local vendors access wealth generated through experiences, the more sustainable local economies are. In 2023-2024 we expecting 3 million visitors to use our digital wallets, and 30,000 vendors to use our mobile app point-of-sale, contributing to the improving local wellbeing and alleviating economic inequity.

Impact on the local economy and community

Our technology is designed to offer local communities’ inclusion, sustainability, and develop circular economies. The embedded technology contributes to increased spending by outside visitors to the local community, it involves including a larger number of local vendors to generating sales for the local community and it implies keeping the spending local and generating well-being for the community.

Impact on the environment – helping build a greener future

We run everything electronically with a power consumption as low as possible. Our blackchains run on proof of stake technologies, eliminating 99% of power consumption. By offering this technology we try to eliminate the need of paper printing from money to tickets, booking reservations and anything in between. In 2017 Oveit received the Forbes Green Awards for our efforts to transform our processes and our industry into a more eco-friendly manner.