The entire world is currently on the blockchain fever, people trying to migrate everything to this technology stack just because of the fervent hype around it. But there are some industries out there that could benefit from it, immensely. Take the Shipping Industry for instance, where the profit margins are ever decreasing while having to rely on most, paper-based logistics, the human error rates always there. Not to mention the unused cargo space, that with the help of blockchain could finally be solved straightforwardly! There is a myriad of benefits for migrating to this technology stack and the transition period has just begun!
The OEL Foundation: Powering Open Enterprise Logistics for Efficient Shipping!
Did you know that the transport industry is responsible for approximately 13% of the global GDP?
Studies also show that by 2021 the business to business transport industry will reach well over 15.5 trillion and to stay competitive in such a high-rolling sector one must employ the latest technologies that are able not just to streamline business processes but also provide new services and cut costs where it might be possible.
Based in Hong Kong, the OEL ecosystem, the OPN token and the team behind the OEL Alliance have started an initiative to leverage blockchain innovations for enterprise logistics. Using their framework, companies can finally free themselves from the paper-based systems by implementing an open-source distributed architecture that is tamper proof and reliable at virtually any scale. Having such a framework at hand, local companies could register their operations on it while providing a high level of transparency that’s currently lacking in the industry.
Today, shipping companies rely a great deal on third-party logistics tracking systems that prop up the prices unnecessarily at this point because blockchain technology can solve the need for this software as well.
The benefits of using the OEL architecture for your shipping company!
The OEL system focuses mainly on transport management and supply chains as the potential impact is immense. Companies that decide to join the OEL network will benefit from its global impact right away, having access to a worldwide database that will enhance and scale their current operations almost immediately. With the enhanced transparency, the decision-making processes will be accelerated as well as companies can take the element of trust out of the proposition, being back by empirical laws of mathematics when it comes to the distributed ledger. Here are some of the core benefits of it:
- Eliminate burdening third-parties
- Drive market innovation and efficiency
- Use Smart contracts to trigger payments
- Solve the unused space issues within the industry
The OPN Token: the Fuel that will drive the blockchain logistic chains of tomorrow!
If you are interested in participating or investing in this project, you can do so by purchasing OPN tokens.
The team plans two token generation events; one will take place in Q3 2018 and the other one in Q2/Q3 2019. The team is looking to raise 5 million USD in the initial stage with an OPN token priced at 0.5 USD; it’s important also to note that there’s a set limit per person of 25 000 USD. The token is based on the popular ERC20 architecture. Get more info on the official website: https://oel.foundation/.
Thank you for your time and feedback,
Jack Andrew