General description of the project

The strategic goal of the OilWellCoin project is to introduce innovative blockchain-based financing mechanisms into the oil production and refining industry. New mechanisms will reduce the threshold for investors to enter into the business of oil production and sale based on traditional partnerships and increase capital inflows to the oil industry.

To realize the stated goal, the project team launches a blockchain platform operating with cryptoactive assets. The OilWellCoin platform will allow anyone to become a member of the oil development and production business. Platform users will have the opportunity to purchase special certificates issued by the OilWellCoin company, which will give them a right to a discount on the purchase of oil extracted from the sale of these certificates.

The project team plans to launch a blockchain-based Certificate Management System in early 2019. This system will allow organizing easy and convenient communication process between all participants of the platform. In addition to accounting for discount certificates, the platform will also provide information on the activities of the OilWellCoin group of companies, as well as production and financial statements.