1.Solutions
OEG provides us with a new day of solving cross-border trade and payments.
1)Enhance Trust
The trustless mechanism provided by the blockchain does not rely on the certification and credit endorsement of authoritative organisations. It only needs to trust the algorithms and participants in the blockchain and establish a trusted network between machines through technical means, changing the traditional credit creation system way.
2)Improve Efficiency
Blockchain technology has strong data consistency features which enable the blockchain system to cover the participants in all the links of the cross-border trade process, open up the trade data flow, and provide the most important basis for deep collaboration among the participants. While increasing efficiency, it can also avoid credit fraud risks and operational risks to a certain extent. It is very important to establish cooperation and communication mechanisms between the broad application of scenarios such as cross-border trade participants and participants, between participants and customs, and even within customs.
3)Decentralisation
Due to the complexity of commercial and political reasons, the cross-border trade system must not be a centralised platform initiated and managed by only individual participants. With its technical characteristics such as distributed data structure and data encryption processing, the blockchain can create a weekly centralised system jointly constructed by participants. The system should not only be a single platform, but also a system that can attract “heavyweight” participants to join together and have a certain degree of interoperability.
2.Project Advantages
1)Data Standard System
Using the blockchain network to break down data silos between different systems through distributed ledger technology. Blockchain networks at all levels should formulate their ledger data standards from top to bottom according to the above-mentioned different levels of data standard systems.
2)Open Interface
Standardised API interfaces can be regarded as the way to implement the data standard system in the ledger at all levels. Therefore, the designers of the blockchain networks at all levels in the architecture need to complete the interface design according to the data standard system to ensure the comprehensibility and availability of the data in the ledger.
There are two ways to use data. One is to read the data in the ledger to the application system through the API interface, and the application system program can complete the use of the data. The other is to call the blockchain network through the API interface. The smart contract, as combined with zero-knowledge proof technology can verify the data in the ciphertext state, and the logic on the blockchain can complete the use of the data.
3)Interchange Across Ledgers
The sub-process data of cross-border trade is likely to be scattered in various ledgers at various levels in the initial state, so whether it is for trade or service participants who want to use data to promote business processes, or for financial or regulatory participants who want to use data to verify transactions, they hope to find a way to integrate data across ledgers. So that the data of various ledgers at various levels and in various segments can be integrated. Blockchain technology can easily solve this problem.
4)Information Security
The selection of blockchain technology should meet the five basic characteristics of information security, such as confidentiality, integrity, availability, controllability and undeniability.
3.Technical Architecture
1)Overall Architecture
Through the establishment of inter-channel between various networks and cross-level networks, OEG can achieve consensus and complete synchronisation of data in the ledgers of these networks, thus accomplishing the data flow between different systems and different participants.
Participants are provided with identification by various identification providers when participating in each blockchain network to clarify the trusted carrier in the blockchain network and the credibility of single-rouse data. At the same time, after completing cross-verification, the credibility of the relevant data as a whole can be improved.
Each system can automatically promote business processes according to the specific business logic in the application system based on the data obtained from the ledgers at various levels or notify the relevant participants to intervene in the promotion of the business processes. Participants can also implant smart contracts in regional blockchain networks or international blockchain networks, and the smart contracts are triggered by the update of data or related status in the ledger, thereby promoting business processes. Either of the above methods of system assistance can help switch business processes from the serial manual promotion mode to the automated and parallel business collaboration model to improve process efficiency, reduce operation costs and operational risks.
2)Data Standard System
The use of a blockchain network is expected to break the data silos between different systems through distributed ledger technology. However, if the data is presented in a non-standard and non-uniform form in different blockchain networks, these more and more refined data will only pose greater challenges to other participants’ understanding of actual business.
Therefore, blockchain networks at all levels should formulate their data standards for their ledgers from top to bottom according to the above-mentioned data standard systems at different levels.
3)Open Interface
Data is precipitated in various ledgers of the blockchain network, so the following two issues that need to be considered are how to write data into the ledgers to meet the results of the data standard system and how to use the data in the ledgers.
Standardised API interfaces can be regarded as the way to implement the data standard system in the ledger at all levels. Therefore, the designers of the blockchain network at all levels in the architecture need to complete the interface design according to the data standard system to ensure the understandability and availability of the data in the ledger.
There are two ways to use the data. One is to read the data in the ledger to the application system through the API interface, and the application system program completes the use of the data. The other is to call the blockchain network through the API interface. The smart contract, as combined with zero-knowledge proof technology, can verify the data in the ciphertext state, and the logic on the blockchain can complete the use of the data.
4.Distribution Method
The initial listing price of OEG is 10 USDT. The total amount of OEG is 50 million, of which 40 million will be purchased in two rounds for a limited time.
20 million OEGs are released in each round. The subscription time is 5 days. After the 5-day subscription is completed, the 3-month lock-up will be opened, and the linear unlocking will begin after 3 months.
