Recapitulation of OBORTECH HUB PROJECT AMA event held at AMA LOVERS CLUB.
Date: Thursday, 27th March, 2021
Time: 16:00 UTC
The OBORTECH HUB PROJECT team was represented by @B_Tamir who judiciously shared with us detailed knowledge and information about OBORTECH HUB PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on Obortech?
ANS: We ourselves been in the industry that our project is targeting 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 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.
Q2: Can you introduce Obortech, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: We aim to solve one of the most complex and big problems of any economy in the world, which is supply chain inefficiency.
Supply chain process has multiple actors having different technical capacities. Sharing data often requires manual and complex processes, asking same information and tasks multiple times. 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. True supply chain efficiency only happens when all actors in supply chain have access to and control over same information flow.
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
Here are our 3 key differentiators when compared with others:
. Current systems are mainly focused on centralized structure circling around certain organizations only, which creates a trust and adoption problems for various actors in different environments.
- We are aiming to build decentralized and democratic network of blockchain which creates favorable environment for everyone regardless of their size and IT capacity. Unlike centralized systems, members themselves are the governing bodies of our network and get the most benefit of it.
2. Most systems today are so complex and complicated to use. Because they try to include as many features and functions as possible to attract clients.
-As for our system, we are trying to make it as simple as social networking apps (Facebook). So, anyone can use and adopt it regardless of their IT knowledge level. We are aiming to make it even a farmer in distant areas can use and interact with their peers and partners if they have a smart phone.
3. Most blockchain based projects in supply chain are mainly focused on track and trace features only and not have “fun to participate” model promoting interaction of participants in the network.
- We are introducing OBOT token, which has many kinds of utilities in the network for all participants. Never been before, we are introducing crowdfunding model like Kickstarter for OBOT token holders and SMEs participating in the network. Crowdfunding can be done either by lending with algorithmic interest rate protocol based on calculation of member scores/ratings in the network or by pledging based on escrow contract and performance tracking on the Smart Hub’s blockchain network between creators and backers. It is just one way of using OBOT. There are many other ways which I mentioned in my first answer.
Q3: So users can lend out their funds?
ANS: SMEs or small projects in our supply chain network. You know getting trade finance or fund for your project is very difificult for smal business owners. Because bank finance process is so complicated to get funding for small businesses. But in our platform, the Smart Hub, all your actions are recorded on the blockchain network in our system, so you as a small business owner have a kind of track record and score in the system. Based on that, OBOT token holders can lend you their tokens. If you don't fullfill your obligation, your score/rating in the network will be downgraded. So, it is similar to current lending applcations based only on credit score of their users. But, our solution will have more than that. Because, our system is tracking their supply chain process in our platform. Thus, we have more reliable and real-time information about the lender/small business owner in our system. So, that score/information will be also verified by other members in the network participating in same supply chain.
Q4: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Sure. That is why we have diverse expertise worked for central banking, corporate law, logistics. We know ourselves the trade finance process and its regulations. It is very tied with supply chain process. If you don't have relialbe and real-time information about what is happening on your lender's business flow, it will be really hard to track whether they can pay you back on time. So, we believe our Smart Hub solution for supply chain will be the key foundation to make it happen.
In terms of our progress. 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 by mid of April. 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.
Q5: Can you briefly describe your PARTNERSHIPS so far?
ANS: Currently, we have partners in Mongolia, Australia, Belgium, and Netherlands. Those are various types of organizations mainly involved in supply chain and logistics field. Some are meat exporters, logistics and trade companies, while others are government institutions and unions for private sector defining policies and strategies for technology and supply chain. You can explore more about them from our website’s Partner section.
Q6: Can you give an overview of your Tokenomics, and the UTILITY of the $Obot Token?
ANS: 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.
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.
2nd Segment: LIVE Questions:
Q1: One of the reasons why most people get discouraged from using Logistics companies is because of the possibility of getting their goods is not certain, they could be diverted or stolen completely. How does OBORTECH intends to solve all these supply chain inefficiencies with it technology?
ANS: First, we are creating blockchain and IoT based digital ecosystem that all players of supply chain can participate include you as a product receiver and your logistics company transporting your product. So, you and your logistics company will have on same network with same information flow built on decentralized blockchain network for all. In traditional way, your logistics company provides you information about your shipment, which creates conflicts of interest. They can change the information whenever they want. But in our system, they can't. Second, we are installing IoT sensors to each truck/container shipping your product if your logistics company participated in our network. The IoT sensor can monitor temperature, sealing, shock and other various information about your cargo and directly transmit to our system. So, you can get real-time data about your shipment regardless of the logistics company.
Q2: They mentioned on their blog that Orbotech main idea is to create Smart Hub an ecosystem similar to Facebook, a simple and easy completely digital network for all actors in the supply chain, they can collaborate remotely in a blockchain network decentralized and democratic that favors all. My question is: How is this possible? When I imagine a network like Facebook, I can see a fully interactive interface. Do you mean that they will try to do it with the interface of a social network to facilitate interaction between supply chains?
ANS: No. It is not mean we integrate Facebook in our system. We want our system like easy to use and simple as Facebook. So, anyone who has little IT knowledge can understand and use. And also, yes it will be fully interactive interface with real-time communication with other members in the network. Supply chain ecosystem and their actors are similar to how it works that you and your friends interact in Facebook . They are just companies and different levels of people interact to each other on supply chain process.
Q3: After end of IEO of $OBOT token...where can I buy $OBOT Token?when $OBOT token will list in exchanger? And which exchanger will be listed $OBOT token? Are you interest in CEX or DEX for listing $OBOT token?
ANS: We are aiming to list our token on both CEX and DEX exchanges after mid of April. There will be at least two more exchanges in addition to Probit in April.
Q4: Are $OBOT presale still running? Is there any way to buy $OBOT before listing. And can you tell when and which exchanger has the best possibility to be list $OBOT? https://twitter.com/OsmanGazi50/status/1375640150533795841?s=19
ANS: Yes. It is running now. You can buy OBOT in here: https://www.probit.com/en-us/ieo/obot-round1/1
I can't tell the exact exchange name atm. Because we are receiving offers from many exchanges at the moment. So, it will depends our analysis of top exchange with better dealing offer. However, these are possibility of exchanges we might consider to list: MXC, Digifinex, Uniswap, Gate.io, Houbi. Some might be in April. Some will take time to be listed
Q5: Do you have a Coin Burn or BuyBack system? Do you think that burning coins increases the token value? Can you share some priorites for the next month?
One more i forget it.
Congratulations For 1st IEO 🥳🥳🥳
ANS: Thank you. We have token burns. It is already set in the smart contract of theTokenDistrubtionContract. You can see it on the etherscan of our token.
Major utility of OBOT token will be paying transaction fee of the Smart Hub when users/actors use the Smart Hub network for their supply chains. Every basic transaction, paid for in OBOT is split in the following ways:
• 70 % to OBORTECHglobal OÜ as a Network Admin fee,
• 10 % to marketing & new user growth pool,
• 10 % to community building pool,
• 5 % returned to OBORTECHglobal OÜ for Non-Profit/CSR Activities,
• 5 % IS USED FOR TOKEN BURNS TO PROMOTE SCARCITY OF THE TOKEN.
Thank you. Thanks for all participating in the AMA. If I haven't answered some of your answers, you might interested to read our whitepaper. A lot of detailed information is there, which I haven't share with you here.
Thanks again great community. Hope to see you again 🙂
Follow Us On Our Various Social Media Communities For More Update;
All information is in our website: https://www.obortech.io
If you want to ask more please join our group: https://t.me/OBORTECH
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