Building Better Solutions of Maximum Security – Trust – Traceability with OEL Foundation

The Problem of Logistics in the Supply Chain

Shippers and transporters face many challenges and disputes, everywhere globally. Whether it is paper-based, record keeping, security or lack of transparency, the situation makes it very difficult to maintain liquidity in the transport industry.Moreover, the distribution costsfrom lost sales, penalties from late deliveries, theft or damage are enormous, all due to the lack of secure supply chain control in the distribution channel. According to The World Bank (2016), the logistics and transport management sector generate approximately 13% of the global Gross domestic product (GDP). Researchers found that by 2021, the business to business transfers of retail goods will reach 15.5 trillion dollars. To ameliorate and finally remove this problem, the Open Enterprise Logistics (OEL) Foundation adopted a common, shared and open source enterprise architecture with the help of Blockchain technology.

About OEL Foundation

Working as a non-profit organisation,based in Hong Kong, the OEL Foundation was created to provide governance and resources for the global development of blockchain technologies for enterprise logistics applications.

The Unique Ecosystem

The OEL platform is based on the OEL Enterprise Architecture, the OPN Token and the OEL Foundation Alliance. This ecosystem comprised of the three elements will facilitate the development of new logistic solutions with a particular focus on the transport industry. With these solutions,OEL will ensure what, when and by whom a shipment was made, eliminating conflicts and improving cash flow and liquidity in the supply chain.

• The OEL Enterprise Architecture consists of a protocol and network used to deliver products and services for OEL Foundation Alliance members and the broader industry.
• The OPN is the utility token, representing the fuel for smart contract validation, but it is also a reward for users when they share data to the network.
• The OEL Alliance represent the stakeholders in the supply chain industry, from multinational brand owners and manufacturers to third-party logistics companies, transporters, retailers, technology providers, developers, etc. Alliance members will be involved in the development and implementation of real and accessibleblockchain applications for stakeholders.

Why usingBlockchain?

OEL Foundation wants to utilise Blockchain to provide a secure exchange of value and validation of transactions and manage a safe and traceable movement of goods.

Who is involved?

The OEL Foundation is led byblockchain experts, a board of directors and an advisory committee from leading organisations with resources and talents, willing to build a better ecosystem.

Token Roles & Event

The dates for this project ICO will be announced soon. What we know so far is that there will be two token generation events for the OPN Token (OPN), the first phase occurring in 2018 (Q3) and a second phase event, happening in 2019 (Q2/Q3) – See roadmap in the whitepaper.
The OPN utility token that powers the OEL Foundation will be utilised in four different areas of the platform:

• Smart contracts validation
• Micro-rewards for sharing data
• Point of access
• Staking

Learn more about the OEL Foundation by visitinghttps://oel.foundation or join their community on Telegram at https://t.me/OELFoundation.