The Foundation provides independent governance and resources for the development, promotion, and adoption of the open source OEL Enteprise Architecture within the global supply chain.
Overview
The Open Enterprise Logistics (OEL) Foundation is a non-profit organization providing governance and resources for the development of the OEL blockchain ecosystem. The OEL ecosystem comprises the open-source OEL Enterprise Architecture, OPN Token and members of the OEL Alliance. A global initiative headquartered in Hong Kong, the Foundation promotes innovative blockchain technologies for enterprise logistics applications.
Mission
Blockchain — by allowing the secure exchange of value and validation of transactions — is optimal for managing the movement of goods in a secure and traceable manner.
The OEL Foundation’s mission is to remove the paper-and-cash burden on the supply chain through the adoption of a common, shared, and open source enterprise architecture utilising blockchain technology. To this end, the OEL Foundation will:
· Build the OEL Enterprise Architecture
A platform, protocol, and network used to deliver products and services for OEL Foundation Alliance members and the broader industry.
· Launch the OPN Token
A utility token, the OPN Token will fuel smart contract validation, serve as micro-rewards for sharing data to the network, and act as a point of access and stake on the network.
· Host the OEL Foundation Alliance
An ecosystem of supply chain participants, the OEL Foundation Alliance facilitates development and implementation of technical solutions for its members.
The ecosystem created by the Enterprise Architecture, Token, and Alliance will facilitate development of new logistics applications, with a particular focus on transport management. These powerful applications can be used to ensure provenance of goods, and answer the questions of exactly what, when and by whom a shipment was made; eliminating disputes, streamlining settlement and improving cash flow and liquidity in the supply chain.
Enterprise Architecture
The OEL Enterprise Architecture is optimised to satisfy four key criteria for logistics applications:
- Low costs and consistent transaction speed
For scalability - Data confidentiality
For enterprise grade applications - Rewarding data sharing
For bridging the gap between the physical supply chain and the decentralized ledger - Open collaborative governance
For ensuring standards required of all participants in the supply chain
OPN Token
The OEL Enterprise Architecture is powered by the OPN (“open”) Token. OPN is a utility token with the following roles:
- Smart contracts
Fuel validation by nodes under an industry standard consensus mechanism - Micro-rewards
To incentivise and reward active and passive data-sharing by participants in the supply chain - Point of access
To manage authorization, participants require a given number of tokens to push, be party to or receive information on the network - Staking
Using industry standard consensus algorithms with OPN Token stake rewards to the operators of participating nodes during the first years of operation
Roadmap
OpenPort
OpenPort Ltd provides services to the Foundation through a Service Agreement, supporting its development, administrative, and marketing requirements. OpenPort Ltd is a member of the Foundation’s Enterprise Council.
To learn more, please visit OpenPort.