Blockchain technology is holding the world to a standstill, with several platforms being launched daily to facilitate fascinating services in almost all sectors. Even the most rigid sectors are beginning to find ways to inculcate the popular technology into their working process. It is not a surprise that even the financial mainstream are researching the industry and developing strategies that will aid an integration into the financial sector. Despite the challenges that cryptocurrency is facing to break into the financial mainstream, the technology has continued to perform astonishingly, gaining a massive rise in profit over the past months and attracting investors in their tons. Recently, OEL Foundation, a Hong Kong based foundation has unraveled a blockchain powered network that will facilitate innovative blockchain technologies to be used for the creation of enterprise logistics applications.

What Is OEL Foundation

OEL Foundation is a newly launched nonprofit organization that has been started to provide the needed governance for overseeing the development of the OEL blockchain powered ecosystem.

The well organized OEL ecosystem consists of an open-source architecture, a wide reach of an alliance, and the OPN token. It is a blockchain powered paperless foundation that has ladened itself with a mission to remove all burden that exists on the supply chain. It is achieving this through the use of an open source enterprise architecture that is powered by blockchain technology.

Why Transport Industry?

The transport industry is one of the most functional sectors in the world, especially since the world’s economy is based on the ease of carrying out a domestic and international trade. Global businesses are still very relevant, contributing immensely to the GDP of every country. Business to business retail is also a booming, and profitable area and researchers have opined that transactions will hit up to $15.5 trillion by 2021. With all these incredible statistics, the question now lies with having a shipping system that will match the growth speed of the sector.

There has been a lack of direct control over the logistics of supply, and this has affected developing countries to a large extent, making them rack up fines that could be avoided with smarter systems.

OEL is working to provide a smart working system that will help developing countries avoid these problems.

Why Blockchain?

The foundation has found blockchain technology as the most useful technology considering its decentralized nature in addition to its high level of security that allows companies everywhere to have access to the better-secured system of storage. Giving them a reliable method to keep track of all their vital transit services.

Token Launch

The OPN utility token powers the OEL protocol. The foundation is billed to host a TGE in the later part of 2018 and another one in 2019.

Token Information

Token name: OPN

Platform: Ethereum

Token Type: ERC20

Available: 32,400,000 OPN

ICO Price: 1 OPN = 0.50 USD

Pre-sale Price: 1 OPN = 0.50 USD

Hard cap: 15,000,000 USD

Conclusion

The OEL foundation seeks to bring the problems that paper-based system brings to the transport industry to an end through the use of blockchain technology.

Visit the OEL foundation website on https://oel.foundation/.