The future of Oil industry technological advancement lies in Xpetroleum blockchain-based technology

There are various ways that the oil and gas industry can profit by the utilization of blockchain innovation, particularly with progressively powerful data management method, and the security of exceptionally delicate data. The oil and gas industry has been at the frontline in technological advancement, seeing developments, for example, 3D seismic mapping, fracking, and a large of different innovations.

Be that as it may, it has likewise received criticism since the majority of the development has been directed at the operations side of the business. Thusly, the backend capacities that deal the managerial processes of the oil and gas sector have suffered.

For the past couple of years, the industry has confronted various difficulties including continuous price changes and high production yield levels, which have brought about cost-cutting measures, layoffs, and reduction in exploration.

Organizations in this sector need to continually improve just as re-adjust their operational procedures, the strategies they utilize, and even how transactions are executed to ensure they stay competitive. Furthermore, the way things are, XPetroleum blockchain-based technology is the best platform to enable the industry to defeat its present difficulties.

What is XPETROLEUM?

XPetroleum platform is designed on Ethereum blockchain with smart contracts aim to transform the oil and gas industry. XPetroleum platform is one of the biggest trust oil economies within the Blockchain technology. Oil industry is a standout amongst the most essential industries in the world with the global market estimate of $1.7 trillion.

Blockchain offers many features to the oil industry few of the features are: Transparency, financial transactions, empowering performance-based contracts, Track provenance for authenticity, Secure, cost and Time.

Oil is a non-renewable resource that must be protected. It's for this reasons a project called XPetroleum is being created, which can improved the processes of oil exploration and supply through the execution of Blockchain technology.

The fundamental objective of the developers is to deliver a new generation oil platform based on Ethereum smart contracts, that offers the below benefits to the oil industry:

• confirmation of  the originality of the item;
• tracking place of starting point;
• transparency of activities;
• reduces cost;
• proven safety;
• reduced transactions handling time;
• eradication of middlemen between the supplier and final consumers.

How XPETROLEUM Platform functions?

XPetroleum platform will be founded on Blockchain technology, which allows for the storage and exchange of data between members on equivalent levels. Because of the undeniable reality that this technology utilizes decentralization, the XPetroleum platform will absolutely eliminate the utilization of third party services.

All actions inside the platform will be executed based on smart contracts that are completed between at least two or more parties. These agreements may include few functions that are executed in light of specific activities of the parties to the agreement. Such a solution will assurance the security of activities and enhances their transparency.

Every of the participants will be able to track the origin of oil production, the time of its delivery, additionally, variety of similar parameters included in the technique of trading this profitable resources.

XPL Token will be the main currency of the platform, which may be stored on wallets that supported the ERC20 digital currency standard. It'll be possible to buy these coins only during the public sales.

Reasons why you should alternative for XPetroleum?

The Global market estimate

Oil industry is the sector with the world's biggest demand. The oil industry is a standout amongst the most essential markets in the world, global oil market size stand at $1.7 trillion.

Why utilizing Blockchain?

The introduction of blockchain technology is one of the most significant inventions ever. It enhances peer2peer exchange activities. Thusly, it will be use to do business activities, in that it offers a transparent service with 100% reliability and assurance for the members data. In this manner, xpetroleum is using this pleasant setup to change the inefficiencies within the oil-based companies.

TOKEN AND ICO DETAILS

The XPetroleum token sale event licenses potential customers to contribute to XPetroleum and get XPL tokens. The maximum XPL token supply is eighty million tokens. XPL is an ERC20 token that serves as currency on XPetroleum platform. 62 % are sold in open sales. The equivalent of the 1 token will be $ 0.15. Be that as it may, the date of public sale will be announced by the founders of the platform in April this year once the Whitepaper 2.0 is release.

TOKEN DETAILS

Token name: Xpetroleum

Token Symbol: XPL

Standard: ERC20 (Ethereum)

Decimal: 8

Total Token Supply (max): 80,000,000 XPL

Min Purchase: 0.1 ETH

Initial Price: $ 0.15

Soft Cap: $ 5,00, 000

Hard Cap: $ 5,000, 000

Accepting: ETH

The XPetroleum platform currency will be XPL tokens, this token can be kept on wallets that support the ERC20 digital currency standard. Potential clients can purchase these coins only during open sales.

ROADMAP

UNIQUE TEAM

Conclusion

With a convincing value proposition, many oil and gas companies could hope to explore, invest, work together with XPetroleum on building up their blockchain-based platform intended to decentralize the industry. XPetroleum will radically reduces the expense of operations for many refineries by eradicating middlemen, and furthermore guarantee the security of financial transactions between the parties to the agreement.

For more information, please visit:

Website: https://www.xpetroleum.com/

Whitepaper: https://xpetroleum.com/docs/WhitePaperXPetroleum_en.pdf

Twitter: https://twitter.com/XPetroleum_xpl

Telegram: https://t.me/XPetroleum

Telegram Channel: https://t.me/XPetroleumAnnouncement

Medium: https://medium.com/@xpetroleum

Reddit: https://reddit.com/u/xpetroleum

Instagram: https://instagram.com/xpetroleumcom

Author:

Bitcointalk Username:Alaho15

BitcoinTalk profile link: https://bitcointalk.org/index.php?action=profile;u=2513944

Eth Address: 0xf8c20030A71708E73D58Ab3900629F17B8875da5