OEL Foundation is formed to help digitize the transportation industry and help them move systems and record management processes on a digital forum based on blockchain technology. It aims to offer the technology of distributed ledger system to any transportation business which would benefit in different ways. The system works on smart contract and blockchain technology to help make transportation industry processes more streamlined, efficient, and fast and secure.
Features of OEL Foundation
This platform aims to offer the following advantages to transportation industry players:
Shipment related entries are recorded immutably on the system and indisputable records are generated by freight history.
Digital agreements based on smart contracts make all transactions secure and transparent between the different parties in this system.
Logistics players benefit from the distributed ledger technology as it can bring in different participants and contain respective transaction records and generate documents and records as necessary in a scalable and secure manner.
The decentralized infrastructure is designed to help overcome the different challenges that exist for the compartmentalized transport management systems.
This ecosystem is based on OEL enterprise architecture and transactions can take place with the OPN token on this platform.
The members will find distributed applications or dAPPs on this platform that can leverage shipment data to create insights and analytical records. The users of the platform would be further rewarded for sharing data and usage of the platform by a micro reward scheme on the platform.
Network participants on the platform can help in sharing data, improving accountability and service levels; the enterprise architecture helps to make all applications on this system real, functional and accessible for the parties.
As trust and transparency is inbuilt in this system parties will be able to accelerate different processes like payments between different parties such as shippers and manufacturers as well as the tracking of consignees, acquiring of goods to local transporters delivering goods as per storefront addresses and so forth.
Team of OEL Foundation
The team is comprised of several board members who are experienced professionals with related skills of the industry.
Max Ward as a board member brings in several years of work experience as an executive, having worked with companies like DHL and Agility Logistics; he has IT as well as expertise in commercial management.
Nicolas Husson is another board member of the company, having an engineering background and worked for OpenPort besides OEL Foundation.
Paul Good is a board member who has expertise in contract logistics and freight forwarding. He has worked for different companies such as Agility Logistics and Kuehne & Nagel.
Mark Nelson is Chief Technical Officer of the firm, having led several blockchain, artificial intelligence and web application based technology projects for companies like Prudential, Bupa, RBS, ING and others.
Roadmap of OEL Foundation
The platform was conceptualized by the beginning of 2018 and by the second quarter the whitepaper as well as the architecture of the platform finalized. By the third quarter of 2018 TGE Phase I would be completed. Platform development as well as partner engagement is planned to be in progress by the first quarter of 2019 and TGE phase 2 would commence by third quarter of 2019.
PHASE 1
Target: Public
Offering: ERC20
Price: 0.5 USD/OPN
Raise Amount: Approx. 5,000,000 USD
Per Person Limit: 200-25,000 USD*
PHASE 2
Target: Public
Offering: New Protocol Token when Main Net is ready (H2 2019)
Price: As determined by auction/market price at the same time
Raise Amount: As determined by auction/market price at the same time
Per Person Limit: 200-25,000 USD
MAXIMUM TOKEN SUPPLY: 100M Tokens
TGE TOKEN PRICE: 0.5 USD/Token
TGE TOKEN: ERC20
SOFT CAP: 4 million USD
HARD CAP: 15 million USD (including pre-sale amount)
