World Economic Forum has estimated that as much as 20% of total transportation cost within global trade goes to document processing. This is a huge percentage and a huge waste of time and money, It is also estimated that $7 billion worth of fresh food spoils before it even reaches consumers in North America due to slow and inefficient supply chains. This happens primarily due to countless actors with different technical capacities, creating an inconsistency. Not to mention that most of these processes are manual, which means that even more time is wasted due to the human factor.
Blockchain technology has been used efficiently by many food supplier companies around the globe to counter this major challenge of inconsistency and wastage of time. While IBM is an industry leader in developing blockchain based supply chain solutions. However, recent reports suggest IBM’s blockchain venture has not been as successful as portrayed primarily due to high cost of developing blockchain solutions for different companies.
OBORTECH resolves the centralized and costly problems faced by IBM through a defi solution as it is developing a Smart Logistics Hub, a decentralized, democratic digital ecosystem that favors all actors involved in the supply chain industry, regardless of how advanced their technical capacities may be.
Smart Hub: The Decentralized Supply Chain Solution
Unlike centralized systems, the Smart Hub users themselves have more control over the network, lead its adoption, and get benefit from the revenue stream. Before joining, every new member in any supply chain network of the Smart Hub needs to be invited and approved by existing members of that supply chain network in the Smart Hub. Also, if any member in the network behaves badly or inserts false information multiple times, that member’s score/rating in the network will be downgraded by other members.
The Smart hub function is comprised of the following parts:
Blockchain and cloud powered communication hub: Accessible via easy-to-use web and mobile user interfaces, and an open API, the Smart hub brings together supply chain actors, and enable their supply chains to share information, collaborate, conduct data analysis, and validate product traceability in real-time on a trusted platform.
Tamper-proof, unified and online document exchange: The Smart hub allows secure sharing and exchange of documents with supply chain partners using blockchain powered version control. Authorized parties to any shipment can immediately see when changes have been made, and by whom, along a shipment journey. Moreover, authorized parties review the status of the critical shipping documents to advise customers on progress and any actions needed to maintain required delivery date.
IoT based real-time visibility and tracking: IoT sensors are installed on containers/trucks and transmit data to the Smart hub dashboard to track valuable shipments, monitor their key physical measurements, and protect high-value products against theft. A client gets positioning data for shipment in real-time, irrespective of the shipping carrier they choose.
Open and decentralized networking marketplace: Based on the blockchain based trusted network established among the Smart hub participants, a transparent and fair marketplace will be created. The marketplace ecosystem will enable verification and rating of stakeholders in supply chain without the need for third-party credentials. It would be done automatically based on their supply chain provenance data and shipment histories registered on the network.
OBOT token is a main instrument for digital economy of the Smart Hub network. Members of the network can use OBOT token on performing transactions on the platform, escrowing contract bonuses, launching crowdfunding activities to the network community, exchanging services in the Smart Hub Marketplace, voting on governance policies and activities of the network, and getting rewards based on their performance ratings in the network.
OBORTECH is planning to provide its services to three main markets:
- Euro-Asian inland transport,
- Intra-European inland transport, and
- Export and import transport of Mongolia.
Like any other defi ecosystem the Obortech smart hub ecosystem runs via native token OBOT. The fixed supply of OBOT token is 300 Million. Out of these 300 million 175 million would be available for public buying via different IEOs and the remaining breakdown had been listed below, Early Investor Sale would have 25 Million OBOT up for grabs, while 60 million is saved for founders and early investors While remaining funds would be utilized for ecosystem developments.
OBOT token allows holders can participate in Governance decisions of the marketplace. They can exercise voting rights on policies of member enrollment, service exchanges, and crowdfunding activities of the marketplace. OBOT owners can vote themselves or delegate voting rights to other members of their choice.
OBOT token will be used for paying Transaction fee of the Smart hub on bundled services such as Blockchain and cloud powered communication hub, Tamper-proof, unified and online document exchange, IoT based real-time visibility and tracking, Open and decentralized networking marketplace.
Obortech is conducting an Initial Exchange Offering on Probit. Join OBOT token IEO on Probit.
Learn more about Obortech:
Official Website : https://www.obortech.io/
Twitter : https://twitter.com/OBORTECHhub
Facebook : https://www.facebook.com/OBORTECH
Telegram : https://t.me/OBORTECH
Linkedin : https://www.linkedin.com/company/obortech