The enterprise architecture of the Open Enterprise Logistics network is powered by the OPN token. This is a utility token, providing multiple rules within their unique database-centric ecosystem, including:

Fueling the validation of smart contracts by nodes under a nonprofit organization mechanism (the registration of the ORL Foundation is as a nonprofit).

Incentivizing and rewarding micro-activities of users, shippers, logistics entities and traders, as well as passive sharing of data by supply chain participators.

Access points to manage authorization, which require participants to push a certain number of tokens to receive information on the network.

A proof of stake system, required to both run the nodes in question and control confirmation of identities.

This OPN token is a central part of all transactions on the OEL blockchain. OPS is planned to be used with smart contracts, popularized by Ethereum, to encourage network participants through reward payment and management of the network.

The OPN Token Sale Facts and Figures

The first phase of the token generation event and initial coin offering is comprised of a private buyer pre-sale (which has already happened) with bonus tokens made available for early contributors as an incentive. Also, there will be a first phase public purchase main sale, which is slated for the fall of 2018. The price will be 50 cents per OPN token, with a soft cap of $4 million, and a hard cap of $15 million in this phase.

Once the main network of the OEL Foundation has been implemented, there will be a second phase of the token generation event and initial coin offering. This is slated for the middle of 2019 as a public sale. This sale will be comprised of a new token issuance at the market price of a OPN at that point. If relevant, there will also be an issue of replacement OPN for those holders of ERC20 compliant OPN tokens if things change.

The total OPN available for sale will be 32.4 million OPN, representing 32.4 percent of the 100 million total coins that will be generated by Open Enterprise Logistics.

The intended token distribution is split as follows:

Reserves and stake rewards: 47.5 percent

Management & Staff: 10 percent

OpenPort Ltd: 10 percent

Advisor/Partner: 5 percent

Community Rewards: 2.5 percent

Public (Pre-Sale): 15 percent

Public (Main Sale): 10 percent

Pros and Cons of OEL

Pros of OEL include the following:

A promising option for ensuring transparency and trust in a highly private supply chain. This blockchain technology will be a one source of truth for indisputable recordkeeping of all events in the supply chain process, from pickup to final delivery.

A team that has experience in the industry, as well as advisors relevant to the blockchain tasks at hand, and partnerships that have already been agreed to.

Their micro-rewards system for information sharing of data ensures greater participation and quality data amongst the supply chain participants, in both developed and developing countries.

Cons of OEL include the following:

As stated multiple times through this review, the supply chain industry is old and staling. It would be a massive undertaking for a single source of transparent truth in the supply chain to be enacted and developed, and for the data for existing containers, ships, chassis and equipment to be properly logged and tracked.

Additionally, the shipping and logistics industry on a global scale is highly “set in their ways”, in their dated equipment procedures and privacy. It would be an even greater undertaking to get buy-in from global shippers and carriers to share their information willingly in a transparent environment.

Final Thoughts on Open Enterprise Logistics

Open Enterprise Logistics has a solid roadmap, a stellar gameplay, a great team, and an innovative concept to change the global shipping and logistics industries, giving all countries a fighting chance at development. Their ducks are in a row, but potential pushback from market makers to share information or change their reporting systems could cause potential problems down the road.

Overall, we at 100x ICOs give the OEL project seven stars out of ten.