Q. Please introduce yourself?
We ourselves been in this industry for a long period of time. Our co-founder has been in logistics sector for over 20 years, and now leads one of the biggest logistics companies in Mongolia. I have been in project management and communication fields for over 10 years. I mainly worked for large international development projects implemented by governments of the United States, Switzerland, and Mongolia on transportation, mining, and energy fields. Our Chief Counsel/Lawyer is Harvard Graduate and has extensive experience in corporate law and regulations. Our CFO/Finance person has over 20 years of experience in central and corporate banking, financial and investment institutions. Our blockchain architects also been in software development for 20 years and in blockchain field for 6 years. So, we are veterans in this field.
Q. What is Obortech about?
We aim to solve one of the most complex and big problems of any economy in the world, which is supply chain inefficiency.
We aim to create the Smart Hub, a fully digital ecosystem for all actors in supply chain, which they can remotely collaborate in a decentralized and democratic blockchain network regardless of whether they are small or big.
The Smart Hub offers:
· 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
Q. What is the Multi Winner Ecosystem proposed by Obortech?
What if we have simple and easy-to-use fully digital network like Facebook in supply chain that everyone has equal participation rights, controls their own data, decides whom they want to connect, shares information remotely in unified format, receives real-time notifications, and gets valued based on their performance histories verified by other members in the network instead of complex procedure by single organization?
We aim to build the Smart Logistics Hub, a decentralized and democratic digital ecosystem that favour all actors in supply chain regardless of their size and IT capability.
Below are benefits to various actors in the OBORTECH Ecosystem:
Exporters/sellers and importers/buyers will have unified and real-time source of visibility on shipment process and cargo quality during transportation. This will greatly reduce disputes caused by inconsistent and late data sharing. As a result, trust between parties will be strengthened, meaning more trade volumes with accurate quality assurance.
Freight forwarders and transporters will have a better logistics management tool based on reliable and up-to-date information. It will increase their operational efficiencies, cutting unnecessary costs. Moreover, with instant access to information and analytical tools, they can greatly reduce works and time required to respond client enquiries and document processing between regulators, banks, insurance companies. With improved efficiency, their cargo turnover times will be increased, meaning more profit with less operational cost.
Financial institutions involved in trade finance such as banks and insurance firms will have access to enhanced and reliable records based on blockchain. Using the smart contract technology of blockchain and automating transactions, financial institutions can process payments and documents at faster speed with better risk analysis.
Regulators will simplify and optimize their process between clients without external cost. With improved visibility on cargo movements, regulators will have accurate planning and better risk management on incoming traffic.
End-users, Consumers will be better informed to filter out counterfeit or spoiled products based on transparent and reliable visibility of supply chain and traceability data.
Q. What problem does Obortech solve?
Supply chain process has multiple actors having varying technical capacities. Technical inconsistency blocks efficient data exchange among them. Sharing data often requires manual, time-consuming, and paper-based processes, asking same information and repetitive tasks multiple times. The World Economic Forum estimates that document processing accounts for 20% of the total transportation costs within global trade. USD 7 billion worth of fresh food still spoils before ever reaching a consumer in North America alone due to complex supply chains. The global trade finance gap-the difference between the demand for and supply of trade finance-has reached $1.6 trillion. Existing digital systems are mostly dedicated to specific organizations and their own environments only. Those systems are hard to be adopted by other players with different conditions. Players who lack IT resources and knowledge can’t build and maintain those systems by themselves. SMEs face the largest obstacles, because they have the most difficulty dealing with the cost and complexity of the procedures and navigating the trade finance process.
Q. How is Obortech digitizing the supply chain ecosystem?
Key features of digitization that our system (Smart Hub) brings to traditional systems:
Q. What features do Obortech smart logistics hub offer?
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.
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, the marketplace ecosystem will enable verification and scoring of stakeholders in supply chain without the need for third-party credentials. Moreover, the marketplace is a blockchain based decentralized ecosystem that enables buying, selling and exchanging of services without the need of intermediaries among the users
Q. What is the significance of OBOT Token?
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 will enable the Smart Hub network users to interact, collaborate, support each other in more efficient and easy ways, which traditional fiat currency can’t. For instance, users collaborating via the Smart Hub can convert some portion of their contract funding into OBOT tokens and allocate them in Escrow Contract as a bonus payment. When one side performs its task well and meets certain extra conditions of the Smart contract, the escrowed tokens will be released as a bonus payment. Since all parties’ supply chain actions and flows are recorded on the Smart Hub’s blockchain network, it will be done completely automatic.
Whereas in traditional supply chain system, you would need a bank to provide such services and follow bureaucratic paper works before activating that. There are many other usage advantages of OBOT token compared to fiat currency in the Smart Hub, which you can explore more from our whitepaper. As the Smart Hub network expands and more supply chain actors join the network, more demand will be created for the token. We are also thinking of adding Staking, Lending, and Governance features to the OBOT token in the future.
Q. Please explain the token distribution for OBOT Token?
Alright. So, it is a ERC20 token and has max fixed supply of 300 million. 200 million is offered for early investors and public sale. 70 million is locked for founders and team. 30 million is reserved for the company.
Q. What is the IEO schedule for OBOT token?
Our IEO started on Probit and will finish on 12th April, 2021. It is running now. You can buy OBOT in here: https://www.obortech.io/obot-defi
Q. Any message for our readers?
So far, a leading logistics company in Mongolia invested in us and funded the prototype development. Currently, we are doing our pilot on meat export supply chain from Mongolia to China with participants from Mongolian government, meat exporters, and logistics companies. After the pilot, we aim to expand into Asian and European markets. First and foremost, in 2021, we’ll list our token on some of the top exchanges. We have some good news reserved for April and May when our token is listed on good exchanges. We’ll do more aggressive marketing campaign in April-May. Our product (the Smart Hub) will be released in Q3 2021 and more partnerships will come this year.
Learn more about OBORTECH on https://www.obortech.io/
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Blog : https://blog.obortech.io/