With the continuous popularity of the blockchain technology and how much impact it has been creating in the mainstream financial world, it is no surprise that the technology has continued to transcend almost every sphere of human existence, marking its presence in even the most unexpected sectors, from health to education and even the political world. More recently, developers have been asking vital questions about how they can inculcate the much talked about technology for seamless data sharing. Fortunately, OEL foundation is already finding answers to these questions by converging operators with a vision for better, efficient, cost-effective and more transparent supply chain space.
OEL Foundation
OEL Foundation is a blockchain powered paperless foundation with a sole mission to eliminate the burden that lies on the supply chain, using a not so common technique of adopting an open source enterprise architecture that operates with the use of blockchain technology.
What Problem Is The OEL Foundation Solving?
Over time, the supply chain has been characterized by logistic that is burdened by a manual and paper-based process that has proven to be unreliable. This has led to a process that is insecure, and lacks transparency, leading to delay in cash flow and payment disputes that have often affected shipping and transportation worldwide. This has to a large extent also made the task of maintaining liquidity in the transport industry difficult.
How OEL Foundation Is Solving The Problem
To solve this problem, the OEL Foundation will:
– Build a certified enterprise architecture, with a protocol that will efficiently deliver products and services for affiliated members and the bigger industry.
– Launch a utility token. Its token will be named OPN Token and will form the basis for smart contract validation. In addition, the token will also serve as a reward that will encourage the sharing of data to the network and act as an access point for a stake in the system.
– Create an ecosystem that will facilitate the development of real and usable logistics applications that will specially focus on the transport management sector.
Token Launch
The OEL Foundation is a creation of the OEL protocol and is being powered by the OPN utility token. The foundation will host its TGE across two phases that will be made public and will come on sale later in 2018 and in 2019. Placing its hard cap at $15 million, the first phase is billed to take off as an ERC20 token with a 1-1 parity that will be based upon the launch of the main net that is billed for the 2019 phase.
Conclusion
With the OEL Foundation already making serious moves to serve as a serious and objective driven platform that will be supervisory authority for the OEL protocol. With the upcoming TGE mechanism already set to enable the development of a supporting protocol, the cryptocurrency world is waiting and looking forward to how well they’ll live up to the many exciting promises.
