Open Enterprise Logistics (OEL) Foundation ICO
The Open Enterprise Logistics (OEL) Foundation is a non-profit organisation providing governance and resources for the development of the OEL blockchain ecosystem. The OEL ecosystem is comprised of the open-source OEL Enterprise Architecture, OPN Token and members of the OEL Alliance. A global initiative headquartered in Hong Kong, the Foundation promotes innovative blockchain technologies for enterprise logistics applications.
The Foundation is building an open source decentralised smart contract infrastructure for logistics applications. It is optimised to satisfy four key criteria:
Ø Low cost and consistent transaction speed
Ø For scalability
Ø Data confidentiality
Ø For enterprise grade applications
Ø Reward data sharing
Ø For bridging the gap between the physical supply chain and the decentralised ledger
Ø Open collaborative governance
Ø For ensuring the standards required for all participants in the supply chain
Enterprise logistics in the supply chain is burdened by an unreliable and largely manual paper- based process. The resulting lack of transparency and absence of secure, trusted information creates cash flow delays and payment disputes affecting shippers and transporters globally. This situation makes maintaining liquidity very difficult in the transport industry.
The OEL Foundation’s mission is to remove this burden through the adoption of a common, shared, and open source enterprise architecture utilising blockchain technology. To this end, the OEL Foundation will:
Ø Build the OEL Enterprise Architecture. A platform, protocol, and network used to deliver products and services for OEL Foundation Alliance members and the broader industry.
Ø Launch the OPN Token. A utility token, the OPN Token will fuel smart contract validation, serve as micro-rewards for sharing data to the network, and act as a point of access and stake on the network.
Ø Host the OEL Foundation Alliance. An ecosystem of supply chain participants, the OEL Foundation Alliance facilitates development and implementation of technical solutions for its members.
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