Smart Refinery Systems (SRT) may be the first global enterprise to include blockchain technology into the oil market and uses blockchain technology to integrate small refineries globally into authorized facts networks. The individuals earn from them.
How does SRT job?
SRT is a supplier of high-tech refining devices for small refineries. Its tools can make fuels for top quality engines (type EURO 5) used limited to the production of large refineries. With this innovative structure, small refineries can substantially reduce development costs and maximize their revenues and earnings.
The filter modules will never be sold; They'll be employed for long-term employ. For companies that lease equipment, a royalty cost (license fee) is determined by the number of processing materials required. It is becoming the primary way to obtain financing for SRT and job participants will work on this platform.
Payment structure of SRT
The small refineries in the network can pay royalties to the SRT group for each, and every ton of essential oil processed.
All calculations to be produced and recorded on the blockchain will quickly increase the transparency and stability of the platform.
Royalties could be paid in dollars or SRT coins. Repayment by token enables a 20% price reduction on the payment volume. This discount will become a motivation for investors to utilize the card instead of the amount of money on the platform.
SRT will always decrease the number of tokens found in circulation. 80% of the tokens which come as royalties will become removed from flow through the elimination of the much less total token throughout the day.
SRT prices will begin to be adjusted in line with the market predicated on demand and source based on the benefits of the stock market that involves the get and sales of the token to make sure a reasonable price.
This stableness of the costs of the Tokens will promise them a well balanced and stable demand.
The main reason for the IT platform is to conduct settlements between companies, determine the quantity of these settlements, and besides accumulate information on the status of oil refining equipment. The automated program will operate employing the Ethereum blockchain and the Proof Authority consensus algorithm to lessen costs and delays. A network infrastructure with digital sensors and gateway protocols may also be implemented.
On the system, the ERC20 standard SRT-coin token will serve as a 20% discount on royalties. It offers the right to take part in the procedure of the SRT system and receive personal benefits. And much more precisely - to rent SRT-refining apparatus, the company must individual at least 10 thousand tokens.
