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One of the greatest challenges large, complex, enterprises have faced in the modern era is making certain that every piece of data is accurate and gets to the hands of those that need it most. A decentralized blockchain enables companies to keep track of everything from oil recovery rates to subcontractor agreements in a manner that is, by design, transparent and readily auditable.
In short, it makes administration easier while eliminating the uncertainty that comes with having to meet investor and governmental requirements for transparency. Oil and Gas Supply Chain stands at the forefront for making this possible, while also helping to create an emphasis on reusing otherwise discarded byproducts such as water.
Going Beyond Petroleum
Maximizing the utilization of resources in a transparent and infallible manner has applications that go far beyond the petrochemical industry. For instance, water runoff in an agricultural field. Automated sensors can collect the runoff and add the data to a blockchain which can be monitored by automated water wells and connected irrigation systems. Every step of the process can be monitored in real time and provide data vital for long-term environmental protection.
This flexibility even goes beyond the business itself to potentially incorporate the public and other businesses. Going back to the farm field, imagine that there is an onsite oil well. The well can incorporate automated water monitors and syphon extra water (post-testing, of course) to the farm field if it is required. The payment information for this transaction can be incorporated into a smart contract attached to the blockchain. Since it is, by design, digital, the machines can simply follow the directions of the contract while monitoring the “coins” available for each event.
OILSC is currently hosting an ICO, offering initial investors the opportunity to take part in the next wave of energy production management. Hosted on the Ethereum platform, this ICO is including a unique opportunity – due to the rising value of the Ethereum platform a part of the initial batch of coins are being sent to investors for free after the end of the investment period.
An ICO is similar to a traditional IPO, however, the coins reflect much more than mere ownership of the colony. They are units of value that can be used in daily transactions or connected with other products and services. The value of the coin is based on the worth of the company and its utilization in the market, meaning it is possible for the investment to increase in worthwhile being utilized every day!
Oil and Gas Supply Chain is a traditional energy development corporation dedicated to maximizing the efficiency of onshore oil wells, especially with regards to the overproduction of water by these installations.
Starting with water, OILSC will be rapidly expanding to include sustainable management solutions. Their mission is to help spur the development of traditional energy resources in a manner that is fiscally prudent and environmentally conscious.
Learn more about Oil and Gas Supply Chain and participate in their ICO by visiting: http://oilsc.io/