OEL Foundation - review. Logistics platform on the blockchain
OEL Foundation
About the project
The “OEL Foundation” is one of the representatives of logistics services taking advantage of all the advantages of blockchain. Thus, it gives to many companies, that implement logistics, an example of the use of smart-contracts to fix supplies to the blockchain and eliminate the preconditions for fraud. In turn, the "OpenPort" is a commercial enterprise hired by the "OEL Foundation" to provide administrative support and assurance in development from 2015.
The monthly income from the provision of the logistics services from the start-up on 4 market outlets in Asia was ≈ 500 000 $ USD.
(Initially, the project focuses on the market demand for logistics in Asia)
Currently, the company is interested in switching to blockchain in connection with the use of "proof-of-delivery" with the possibility of blocking and factoring of accounts. Also, the implementation of previously used logistics services, but already with the existing customer base.
Market analysis
I believe that we all are familiar with such large logistics companies as “FedEx”, “United Parcel Service”, “Deutsche Post”, “Maersk”, “YRC Worldwide”, and “DHL”. Nevertheless, what kind of amounts revolve around these world leaders in the logistics industry? Moreover, what about the market needs and issues? During the period from 2009 to 2014, all the above companies have exceeded their revenue on average up to 48% (to $ 751 billion) at the end of 2014.
How does it work?
First of all, logistics is the management of material, information and human flows in order for the optimization (costs minimization). Since the main activity of the project is the provision of logistics services for the above-mentioned markets, the "OEL Foundation" has developed its own open source protocol for independent management and supplies control.
The OEL protocol is a contract concluded between the two parties in the form of a smart-contract, which in parallel includes notarization and acts as a "proof of consent" as a legal agreement. In addition, this includes a number of fixed, binding legal norms to optimize the entire process. In a complex, it has a positive impact on the exchange of data, increasing the speed of contracting, simplifying open and joint management of services.
"OEL Foundation" will provide services to other companies in just a few minutes. Therefore, all this thanks to a multi-level architecture that consists of a platform, an internal protocol and a network that provide the entire functionality of the ecosystem of the fund.
Conclusion
The logistics market is quite problematic: documentary problems regularly arise, modern databases also don't guarantee 100% of security of delivery and its full implementation, since they are easily accessible to hackers. The blockchain technologies integration facilitates the entire process of concluding agreements, optimizes all work and eliminates unnecessary certification of services on securities.
"OEL Foundation" in the framework of the development prospects can surpass many of the modern companies, and there are many examples and proofs for it. Even such modern leader as "DHL" has achieved its peak popularity thanks to the integration of one of the online technologies.
Project ratings:
https://icobench.com/ico/oel-foundation
https://www.trackico.io/ico/oel-foundation/
https://icoholder.com/en/open-enterprise-logistics-foundation-22072
http://ico.bitzamp.com/ico_listing/oel-foundation/
P.S. This material is posted for your reference. Not a financial advice. I do not encourage you to participate in any ICO. You need to understand and consider the high risks of investing in ICO. The content expresses the author's personal opinion. The author is not an expert in the field of block technology. Always conduct your own analysis before investing in any ICO.
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