OPK :: Building the Largest Decentralized Packaging Network 2018

munarpasse (33)in #opn • 7 years ago

OPK :: Building the Largest Decentralized Packaging Network 2018
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The Open Packaging Network is a blockchain based project that aims to bring transparency to the packaging industry by building a platform that uses the technology to provide value for stakeholders in the industry. It creates a platform for a seamless, transparent interaction among buyers and sellers effectively bringing together all the verticals involved in the packaging business in a marketplace where demand meets supply and vice versa.
The project aims to be a public digital ledger for the packaging industry, in which parties exhibit transparency and trust due to the integrity of the system. It guarantees sellers seriously interested buyers, better payment terms, trustworthy demand forecasts and good prices for their products, while buyers are guaranteed high quality materials delivered in good conditions and on time.
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The concept of packaging has started long before the printed boxes came to be in the 1800s. In fact, it was said that packaging had very early beginnings. As far as as the 11th century, sellers were already using some form of packaging to wrap their goods before turning them over to their customers.

Packaging has evolved immensely over the years. From serving a purely functional purpose, it has gone on to become a lot more than that. Packages now come in all shapes and sizes, colors and designs, to attract the consumers’ eye. It has become an advertising tool, to say the least, and now, it is a multi-billion dollar industry.

But there are issues that plague the packaging industry. For example, poor forecasting of the demand leads to an oversupply of stocks. This means, suppliers do not get cash right away. There’s also the challenge to come out with high-quality packaging products but at the lowest possible cost, or to put it another way, to come out with affordably-priced products without sacrificing quality. This is easier said than done, given the high cost of raw materials today. Further adding to the problem are late payment, transparency and trust issues. Most of these problems are in part due to the complex system of the industry. You see, the traditional system involves many participants and overlapping transactions, and this only complicates the process, leading to higher operational costs. Higher operational costs mean higher-priced products that will be passed on to the consumers.
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It cannot be denied, the packaging industry is at that certain point that requires transformation in order for sellers and consumers to mutually benefit from the billion dollar packaging industry. And the Open Packaging Network couldn’t have come at a better time.

Open Packaging Network (OPN) is developing a blockchain-based platform to revolutionize the packaging industry. Essentially, this will redound to streamlined processes, seamless and transparent transactions, fair pricing, reduced overhead costs, better quality and increased efficiency. OPN will only have four major players in its ecosystem - and these are the sellers, the buyers, the delivery agents, and the validators - as opposed to the traditional model that has five or more major players, including financial intermediaries such as banks.

What Are the Problems With the Current System?
The packaging industry has very unique challenges, one of which is the fact that sellers are not certain of demand, so appropriate provisions may not be made for packaging and supply chain. This could lead to late delivery of products and complaints or disenchantment from the buyer.
There are times merchants deliver low quality or damaged goods due to poor quality packaging. This results in loss of valuable time to the customer who would have to wait until the right products are delivered to them. At other times, late delivery of the right product results in the same loss of productivity.
The lack of total transparency makes the actors in the supply chain wary that the other party may not be acting in the best interest of the others. For instance, businesses usually give priority attention to their best paying clients. Smaller businesses that do not have the financial clout may not get such priority attention to be supplied or paid first, causing delays or even losses.
There is also the issue of packaging design. Customers connect better with designs that are easy-to-open, eye catching, re-sealable and interactive. Also smaller packaging for single serve, promotional packing with branding all have the advantage of putting one company ahead of the other.

The platform is based on the the Bid-Bet Model, giving both the sellers and the buyers greater control over their transactions. The Bidding Process allows buyers to post an order, and sellers are then notified of the order and will place their bid. The exhange of data will be validated, and a process takes place to provide the buyer with a shortlist of sellers. On the other hand, the Betting Process works in this manner - the seller posts an item and buyers are notified and will make a bet offer. The exchange of data will be validated, and a process takes place to come out with a shortlist of buyers. Whether in bidding or betting, tokens will be used to claim ownership of the bid or bet offer.

The OPK Token

The token referred to in the previous paragraph goes by the name OPK, a token native to the OPN platform. It is liquid in form, which makes it tradeable in exchange platforms, and transferrable to other platform users as payment of goods or services. OPK tokens also act as a means to incentivize platform users. They can be earned as a reward for an honest bidding, for making a successful delivery of orders, for matching profiles, and for validating transactions. On the other hand, users may lose their stake of the tokens by conducting negative behavior or activities within the platform, just like, for instance, deliberately modifying the payment system or, in the case of validators, sending a wrong list.

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Token Details:

Token name: OPK
Token Sale Duration: 01/10/2018 - 28/10/2018
Standard: ERC-20
Token to be sold: 30,000,000 OPK
Soft Cap: $6 million
Hard Cap: $30 million
Total Token Supply(max): 50,000,000 OPK
Token Purchase price: 1 USD = 1 OPK
Min Purchase: 50 OPK

Team :
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