Ovato (OVO) describes itself as blockchain technology that provides a better way to exchange value in a truly permissionless, noncustodial, and decentralized way. Ovato is designed and programmed specifically to be both merchants' and shoppers' default digital currency for online shopping. The whitepaper states that the protocol is designed to be extremely fast, and is therefore suitable for peer-to-peer and small-scale transactions.                                                                                        

According to the whitepaper, Ovato is taking a unique business approach by forming strategic partnerships specifically for the mass adoption of its token, OVO. The Ovato token, OVO, is already being used to exchange value with both customers and merchants and in peer-to-peer transactions. Users can download an Ovato user app or merchant app and enjoy the ease and simplicity of exchanging Ovato (OVO).

Ovato aims to provide a full suite of products for merchants and users, such as:

Another prominent feature that Ovato seeks to provide is the Ovato Directory, where users can search for local merchants in their neighborhood who accept Ovato. In the Ovato Directory, users can read and write reviews and share content with other users, while merchants can offer daily deals to users.

Furthermore, Ovato is developing a full-circle economy for its coin that seeks to benefit both consumers and merchants. Ovato Owards is a platform that allows users to participate in Ovato's suite of activities such as shopping, referring members, and social influencing. Users not only earn OVO, but they also receive daily deals and incentives available only through Owards.

Ovato seeks to introduce a platform Bitovation, which assists merchants in fully integrating and accepting OVO into their regular business and POS systems while lowering merchant costs by up to 85%. Moreover, users can earn OVO by simply holding it in their wallets. 

Ovato was founded in 2018. It is headquartered in Singapore. Seth Kamlet is the CEO at Ovato and Chairman of Bitovation Corp. Seth Kamlet is considered to be a seasoned leader and a startup professional. He holds years of experience and leadership skills. Seth has also been a managing partner at Unique Risk Management.