Population explosion, rapid urbanisation and technology advancements have created an industry worths billions of dollars in market value—The Packaging Industry. This gigantic industry has created millions of jobs in the every nation of the world.
However, a lot of challenges ranging from payment issues, trust & transparency and the overly centralizations in the hands of few prevent this industry from realizing its full potentials.
In the light of these challenges, A company,Open Packaging Network seeks to revolutionize the Packaging Industry by implementing blockchain-based solutions.
The Open Packaging Network Solutions
Low Fees By Decentralization
In a bid to cut operational expenses, employ less human labour or reduce the complexity of their packaging platforms, most big players in the industry usually introduce some limitations to keep the platforms in check.These constraints leads to unnecessary interuptions and the increase in the transaction costs. By leveraging on the decentralized nature of blockchain,Open Packaging Network Platform will connect sellers directly to buyers, bypassing the fees associated with third party mediators and also,lowering the barriers to entry.
Prompt Payment.
Today’s packaging industry are characterized by unnecessary delays in payment.The reasons could be: outdated payment systems, rigid networks, location of the buyers or the unnecessary middlesomeness of financial institutions caused by industry regulations .For example, A buyer living in a third world country with nascent financial technology might experience delay in successful payments. In view of this,Open Packaging Network Platform plans to speed up the transactions time of the whole ecosystem by introducing a fast confirmation time ethereum-based token--OPN that will be used in all kinds of payments on the platform.The token will 100% liquid as it can be obtained from the exchanges. It can also be used to incentivize the various players for feedbacks and promotions.
Transparency
Ananymous remote transactions usually give room to fraudulent activities for bad actors to capitalise on. Some of these could be a buyer intentionally issuing a fake transactions receipt to a seller to defraud the unsuspecting victim.This acts,alongside others are rampant in the traditional packaging industry thus discouraging more buyers from buying remotely. The few ones left in the system,usually trade with caution by not committing a large sum of money in the ecosystem . Consequently, hindering the full potential of the industry.
By utilizing the Open Packaging Network Platform, every transaction are verified, documented and stored in the blockchain’s public ledger for anyone to access,demonstrating a high level of transparency.
Trust
Many a time, buyers unspectingly ordered for faulty or unfit packages. Packages that appear defective-free online might not always be the case when it has been delivered to the buyer and the payment concluded. For the case of pay-on-delivery,buyers often times, order for a package they are not interested in paying for, only to start giving flimsy excuses for non-compliance when the packages arrived. Open Packaging Network Platform comes with robust smart contracts that will bind the buyers,sellers,delivery agents and the platform accessors to a contractual agreement. This will eliminate this ugly scenario and restore trust on the industry.
Tracking of Packages
Traditionally, cases of lost packages are synonymous with the package industry. Some delivery agents in a bid to minimize operational expenses, do not install good tracking systems,thus keeping the buyers in the dark over the status of thier deliveries.Open Packaging Network Platform incorporates blockchain-based verified delivery agents with excellent tracking system to keep the buyers on the know about thier packages, encouraging timely delivery and preventing lost on transit.
Conclusion:
Based on the huge market opportunities, a formidable team of the industry expertise with excellent track records and their unwavering commitments, the future is soo exciting for Open Packing Network.
Links:
Website : https://www.opnplatform.com
Whitepaper: https://drive.google.com/file/d/12MKdsHPQLQEqS5Ep9sO3BI30FJ1fGso-/view
Bitcointalk: https://bitcointalk.org/index.php?topic=4550928.0
Author
Arinze280
Bitcointalk: https://bitcointalk.org/index.php?action=profile