OEL Foundation has come up with the idea of having an open source decentralized infrastructure for the sake of logistics applications. OEL Foundation aims at improving the efficiency and the authentication in the logistic ecosystem significantly.
OEL Foundation has emerged as one of the ace companies that has been doing a phenomenal work in the field of logistics companies. The main aim of this foundation is to ensure that blockchain technology is implemented in the logistics sector which will aid in improved efficiency and authentication. The company will facilitate secure exchange of value and validation of transactions. With this new protocol, a new chain could be built which would be phenomenal for the logistics supply.
One of the key spokesmen for the company was quoted as saying, “We want to create the kind of ecosystem, which will facilitate improved logistics application that is sure to run smoothly and it can aid in better transport management. It will soon become the new de-facto standard and can be a new chapter in the field of logistics and transport. We definitely have some big goals ahead and are quite optimistic that we will be able to clinch those goals.”
Owing to these new modern cutting-edge solutions, the foundation will be able to help companies like OpenPort build a lot better solutions too. The ecosystem will comprise of open source OEL enterprise, architecture, the OPN token along with the members of OEL alliance as well.
When designing the overall enterprise architecture, there are the following four points which have been taken care of. The applications would offer consistent transaction speed and would have low cost as this would facilitate scalability. At the same time, there will be the feature of data confidentiality as this would help in better development of enterprise-grade applications. Further, there will be the option of rewarding data sharing as this would aid in bridging the gap between the physical supply chain and the decentralized ledger too. Further, there is the option of open collaborate governance too as this would ensure the uniform standard for all participants present in the supply chain.
So, the right norms will be adhered to and the best of action will be taken to ensure that the right kind of ecosystem will be developed. For the token sales of this platform, phase I is underway and phase II will be held in 2019. The response has been overwhelming at the moment.
Those who would like to take a look at the site and explore the details should make it a point to visit https://oel.foundation/