ECOSC is a Global, Decentralized Supply Chain Management Solution on top of blockchain; that aligns stakeholders, vendors, and buyers around the strategic management of supply and demand outcomes, with a widely accepted currency. To achieve this goal ECOSC has introduced two tokens on the Ethereum blockchain: ECOSCU (Utility Token) and the ECOSC (Security Token).
Through ECOSC platform, all the involved parties can monitor the supply chain operation’s progress in real-time, as well as easily transparently verify the data. This, in turn, will reduce the risk of human error, counterfeiting, and fraud. Data sharing between corporations means less time spent processing documents and reconciling, which will increase the transaction process speed and shorten the cash cycles.
ECOSC, based on blockchain technology, will allow companies across industries to improve costs, reduce waste, increase optimization, and control data transparency. The platform addresses the three major streams of the oil and gas industry: Up-Stream (oil & gas explorations), Mid-Stream (Transport and Storage) and Down-Stream (Product preparation & usage).
Payments throughout ECOSC are all independently verifiable by all the involved parties. All transactions are stored on a single shared ledger that tracks all payments and trade transactions, thus eliminating the need for trust between parties and optimally ensures maximum transparency. Smart Contracts are part of ECOSC core business model. The utilization of such modern technology eliminates the dependence on the human factor which is prone to error, fraud or malicious action. Smart Contracts guarantee the terms and conditions which are programmed within without having any sort of bias or misconduct.
ECOSC blockchain-based platform is worldwide from day one. The team is very proud to be globally distributed around the world, and the functionality of platform accommodates the needs of all major players in the oil and gas market. ECOSC targets the different groups of companies, from the early stages of exploration to drilling, extraction storage, and to consumers. The platform is country-neutral, it supports major players at a global level.
IEO will start on the 15th of November.
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More info here: https://shortex.net/ecosc
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