TALLINN, ESTONIA / ACCESSWIRE / March 16, 2021 / OBORTECH is launching the Smart Hub, a digitalized ecosystem for all supply chain members from the second half of 2021. It has established partnerships with governmental institutions and logistic companies in Mongolia, Australia, and Europe.
Here, members can remotely collaborate in a decentralized and democratic blockchain network, as the system favors everyone despite their size or IT capability.
Here is the importance of decentralizing and democratizing the supply chain through the use of Blockchain:
- In a centralized system, there's a single highest authority in charge. If anything goes wrong at the top hierarchy, whether deliberate or not, it negatively affects the entire system. Decentralization instead focuses on distributing and dispersing power away from a central authority.
- Blockchain, the underlying technology for bitcoin, allows for decentralization, offering every user an opportunity to become one of the many payment processors. Blockchains are attracting stakeholder's attention in several industry domains, including supply chain and logistic industries.
- Blockchain technology effectively contributes to recording every single asset through its supply chain. It also contributes to tracking orders, payments, and receipts and tracking digital assets like licenses and warranties in a transparent and unified way. Specific elements of blockchain that affect the supply chain include scalability, performance, proof and cost, consensus mechanism, location, privacy, and considerations.
More About the Smart Hub
The Smart Hub is set to revolutionize the current logistic system into a secure and straightforward system mechanism. It's going to introduce unified communication, better tracking method, and more transparency among the actors.
The Smart Hub offers include:
- Blockchain and cloud-powered communication hub accessible through an open API and easy to use mobile user interface.
- Tamper, proof unified and online document exchange, enable secure sharing and exchange of documents with supply chain partners using blockchain-powered version.
- IoT-based real-time visibility and tracking. IoT is installed on containers and transmits data to the Smart Hub dashboard to track valuable shipments, monitor their vital physical measurements, and protect high valuable against theft.
How the Smart Hub Is Disrupting the Industry Through Decentralization and Democratization
Because the Smart Hub isn't a centralized system, no administrator verifies and approves new members. The members themselves are the governing bodies of the network. Before joining the Smart Hub, every new member in any supply chain network needs to be invited and approved by all the existing members of that particular supply chain network.
The Smart Hub's marketplace ecosystem allows the rating and verification of stakeholders in a supply chain without the need for third-party credentials. For instance, if any member misbehaves, their score or rating in the network is downgraded by the other members.
The process is automated based on their supply chain provenance data and their shipment histories as registered on the network. The Smart Hub has revenue sharing model to anchor members who created their supply chain and brought their partners into the network.
Buyers and sellers are forced to make informed decisions and filter out risky participants by checking on the automatic scoring/rating system and analyzing their past performances and transaction histories.
The Smart Hub marketplace also welcomes third-party developers and service providers to deliver fit-for-purpose products and excellent services to the Smart Hub users. OBORTECH hopes the marketplace would be the birthplace of further innovations.
Features of The Smart Hub
- Easy onboarding: new members are enrolled through a membership service provider with few simple steps. New organizations can also sign up by submitting their company information.
- Integrated IoT: shipment data is stored in an undisputed and immutable blockchain ledger, making the system transparent, efficient, and reliable.
- Optimal Character Recognition (OCR) and document sharing: The Smart Hub leverages OCR to convert immutable hard scanned copies of documents to editable and searchable text documents.
- Privacy: The Smart Hub uses the channel features of Hyperledger fabric to keep data private to a specific group of participants. Fabric permits a scalable and secure platform that supports private transactions and confidential contracts.
Upcoming IEO
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. OBOT token IEO starts on March 17, 2021 on Probit.
CONTACT:
OBORTECHglobal OU
Tamir Baasanjav
https://twitter.com/OBORTECHhub
info@obortech.io
https://www.obortech.io/
Harju maakond, Tallinn, Kesklinna linnaosa, Maakri tn 21, 10145, Estonia
SOURCE: OBORTECHglobal OU
View source version on accesswire.com:
https://www.accesswire.com/635690/Decentralized-and-Democratic-Blockchain-Ecosystem-for-the-Supply-Chain-Is-Heading-for-IEO
