The Revolutionary Platform
In such a very complex and dynamic industry where 10s of parties are involved, going digital was imminent.
ECOSC based on blockchain technology will allow companies across industries to improve cost, reduce waste, increase optimization, and control data transparency
Transparency and Trust
Through our platform all involved parties will be able to monitor the supply chain operation’s progress in real time, as well as easily verify the data in a transparent way.
Blockchain Based Profiles
ECOSC will reduce the risk of human error, counterfeiting and fraud. It means less time will be spent processing documents and reconciling, which will increase the transaction process speed.
Upstream refers to anything having to do with the exploration and production of oil and natural gas.
In order to be successful in such a razor-sharp profit business, a company must have a reliable data management system and a secure date trans- mission mechanism.
By utilizing Block-chain technology, which offers various parties to operate within the same network, the involved parties can get all validations done digitally and securely on the same network, eliminating manual processes, physical paper-based work, human intervention and wastage of time.
Smart contracts can actually a digital equivalent of the performance-based contracts, such contracted can automatically get executed based on pre-defined terms and conditions, for example executing a payment once a particular delivery is made.
Block-chain can dramatically reduce reconciliation processes due to the data immutability and integrity which is stored in the ledger, such properties allow the facts & figures to get automatically reconciled by the system.
Midstream is a very crucial segment for the O&G industry, as it forms the link between the upstream and downstream.
Midstream operations are mostly related to resource transportation.
Just to give some examples of midstream operations, cross-company checks, and inspection of pipelines are two particular cases.
Block-chain technology, once utilized properly, it can align all the scattered data across papers and different disconnected systems, which provides an easy and transparent way of dealing with parent companies and authorities.
in order to increasing accountability, companies can record on the Block-chain employee’s details, which may include company name, license numbers, training certificates, and experience history, each section can be recorded on the shared ledger with a time-stamp and location data in order to add an extra layer of verifiability.
Downstream segment is highly complex and sophisticated both from structure perspective and business processes.
Downstream is the final process which includes the refining process of oil and gas products.
Gasoline, diesel and jet fuel are examples of processed final products from unusable raw materials to readily consumer products.
Block-chain Smart Contracts can be utilized in order to reduce the time needed for lengthy processes and improve efficiency.
Big corporations involved into the extractions and refineries may introduce Block-chain based reward incentives for the down- stream in order to increase both sales and loyalty.
Digital transformation in the Oil and Gas industry could unlock approximately $1.6 trillion of value for the industry, its customers and wider society.
This total estimated value from digitalization can further increase to $2.5 trillion if existing organizational/operational constraints are relaxed, and the impact of “futuristic” technologies, such as cognitive computing, is considered (for which there is insufficient evidence to make a definitive value assessment at this time).
Digitalization has the potential to create around $1 trillion of value for Oil and Gas rms.—Digital transformation in the industry could create benefits worth about $640 billion for wider society. This includes approximately $170 billions of savings for customers, roughly $10 billions of productivity improvements, $30 billion from reducing water usage and $430 billion from lowering emissions.
Environmental benefits include reducing CO2-equivalent (CO2e) emissions by approximately 1,300 million tones, saving about 800 million gallons of water, and avoiding oil spills equivalent to about 230,000 barrels of oil.
Incumbents are fighting adoption to keep their income streams intact and growing.
Egos the size of my own
Egos in blockchain create the “them vs us” sentiment that prevents true collaboration and consensus.
Government blockchain solutions have to be funded. Private blockchains must make money. Decentralized blockchains don`t make money.
Old hardware must be upgraded and replaced—not just for blockchain but also for IOT, 5G, and nextgen technologies as a whole—to have sustainable futures.
Decentralization is anarchy by any other name. In human populations, decentralization functions very similar to “lord of the files.”
When blockchain experts are as celebrated as other experts, we`ll stop talking about “what is blockchain?” and simply use blockchain products.
The average blockchain user experience is similar to the internet user`s experience before “Windows”—not user-friendly at all.
Download the whitepaper and learn about ICO Token, the unique ECOSC approach and the team/advisors.
Below we’ve provided a bit of ICO, ICO Token, cryptocurrencies, and few others. If you have any other questions, please get in touch.
What is crypto currency ?
A crypto currency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Crypto currencies use decentralized control as opposed to centralized digital currency and central banking systems. The decentralized control of each crypto currency works through distributed ledger technology, typically a block chain, that serves as a public financial transaction database.
What is ECOSC?
ECOSC is a crypto currency that enables a new payment system and a completely digital money for gas and oil trading . It is the first crypto currency is powered by its issuer with a strong support .
Who controls the ECOSC?
Nobody owns the ECOSC much like no one owns the technology behind email. ECOSC is controlled by all ECOSC users around the world. While developers are improving the software, they can't force a change in the ECOSC protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules. ECOSC can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.
How does ECOSC work?
From a user perspective, ECOSC is nothing more than a mobile app or computer program that provides a personal ECOSC wallet and allows a user to send and receive ECOSCs with them. This is how ECOSC works for most users. Behind the scenes, the ECOSC network is sharing a public ledger called the "block chain". This ledger contains every transaction ever processed, allowing a user's computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses, allowing all users to have full control over sending ECOSCs from their own ECOSC addresses. In addition, anyone can process transactions using the computing power of specialized hardware and earn a reward in ECOSCs for this service. This is often called "mining".
What is advantage of ECOSC instead BITCOIN or Etherum?
Pricing of many digital currencies(Etherum) is based on demand and supply. Speculation and bubbles of market has a huge impact on the price of these currencies. But the market of ECOSC is the oil and energy market. Therefore, the currency has a strong backing or a strong backing and Growing future.
What is the mission of ECOSCO Company?
The company's goal is to create a secure energy supply chain
This system based on the Block chain DesignerThroughout the world, suppliers and buyers will easily communicate and exchange documents for shipping and purchasing and financial payments.
How can I acquire ECOSC?
ECOSC will provide by LATOKEN Crypto Currency Exchange soon.
How do I install a ECOSC wallet?
Trust Wallet is a multi crypto currency wallet with Binance DEX support. The crypto wallet app supports most major crypto currencies with regular updates to support more coins. Trust Wallet provides a full security audited system to send, receive and store multiple digital assets so that you have complete control over your private keys that are only stored on your device. You can download and install this app from google strore or apple store .
How can I make a ECOSC payment?
ECOSC payments are easier to make than debit or credit card purchases, and can be received without a merchant account. Payments are made from a wallet application, either on your computer or smartphone, by entering the recipient's address, the payment amount, and pressing send. To make it easier to enter a recipient's address, many wallets can obtain the address by scanning a QR code or touching two phones together with NFC technology.
Can I make money with ECOSC?
You should never expect to get rich with ECOSC or any emerging
technology. It is always
important to be wary of anything that sounds too good to be true
or disobeys basic
ECOSC is a growing space of innovation and there are business opportunities that also include risks. There is no guarantee that ECOSC will continue to grow even though it has developed at a very fast rate so far. Investing time and resources on anything related to ECOSC requires entrepreneurship.
Is ECOSC fully virtual and immaterial?
ECOSC is as virtual as the credit cards and online banking networks people use everyday. ECOSC can be used to pay online and in physical stores just like any other form of money. ECOSC balances are stored in a large distributed network, and they cannot be fraudulently altered by anybody. In other words, ECOSC users have exclusive control over their funds and ECOSCs cannot vanish just because they are virtual.
How much is ECOSC transaction fee ?
Transaction fees for cryptocurrency depend critically on the supply of network capacity at the time, versus the demand from the currency holder for a faster transaction. The currency holder can choose a specific transaction fee, while network entities process transactions in order of highest offered fee to lowest. Crypto currency exchanges can simplify the process for currency holders by offering priority alternatives and thereby determine which fee will likely cause the transaction to be processed in the requested time.ECOSC tansaction fee calculate by etherium block chain.
What determines ECOSC’s price?
The price of a ECOSC is determined by supply and demand. When demand for ECOSCs increases, the price increases, and when demand falls, the price falls. There is only a limited number of ECOSCs in circulation .ECOSC is still a relatively small market compared to what it could be, it doesn't take significant amounts of money to move the market price up or down, and thus the price of a ECOSC is still very light,.
Isn't speculation and volatility a problem for ECOSC?
For ECOSC's price to stabilize, a large scale economy needs to develop with more businesses and users. For a large scale economy to develop, businesses and users will seek for price stability.
How use ECOSC in Gas And oil trading?
By ECOSC supply chain management software, buyers and sellers of oil can buy and sell through ECOSC currency.
Is ECOSC legal?
To the best of our knowledge, ECOSC has not been made illegal by legislation in most jurisdictions. However, some jurisdictions (such as Argentina and Russia) severely restricted or ban foreign currencies. Other jurisdictions (such as Thailand) may limit the licensing of certain entities such as ECOSC exchanges.
Is ECOSC useful for illegal activities?
ECOSC is money, and money has always been used both for legal and illegal goals. Cash, credit cards and current banking systems widely surpass ECOSC in terms of their use to finance crime. ECOSC can bring significant novelty in payment systems and the benefits of such innovation are often considered to be far beyond their potential drawbacks.
Can ECOSC be regulated?
The ECOSC protocol itself cannot be modified without the cooperation of nearly all its users, who choose what software they use. Attempting to assign special rights to a local authority in the rules of the global ECOSC network is not a practical possibility. Any rich organization could choose to invest in mining hardware to control half of the computing power of the network and become able to block or reverse recent transactions. However, there is no guarantee that they could retain this power since this requires to invest as much than all other miners in the world.
What about ECOSC and taxes?
ECOSC is not a fiat currency with legal tender status in any jurisdiction, but often tax liability accrues regardless of the medium used. There is a wide variety of legislation in many different jurisdictions which could cause income, sales, payroll, capital gains, or some other form of tax liability to arise with ECOSC.
What about ECOSC and consumer protection?
ECOSC is freeing people to transact on their own terms. Each user can send and receive payments in a similar way to cash but they can also take part in more complex contracts. Multiple signatures allow a transaction to be accepted by the network only if a certain number of a defined group of persons agree to sign the transaction. This allows innovative dispute mediation services to be developed in the future. Such services could allow a third party to approve or reject a transaction in case of disagreement between the other parties without having control on their money. As opposed to cash and other payment methods, ECOSC always leaves a public proof that a transaction did take place, which can potentially be used in a recourse against businesses with fraudulent practices. It is also worth noting that while merchants usually depend on their public reputation to remain in business and pay their employees, they don't have access to the same level of information when dealing with new consumers. The way ECOSC works allows both individuals and businesses to be protected against fraudulent chargebacks while giving the choice to the consumer to ask for more protection when they are not willing to trust a particular merchant.
Is ECOSC secure?
The ECOSC technology - the protocol and the cryptography - has a strong security track record, and the ECOSC network is one of great distributed computing project in the world. ECOSC's most common vulnerability is in user error. ECOSC wallet files that store the necessary private keys can be accidentally deleted, lost or stolen. This is pretty similar to physical cash stored in a digital form. Fortunately, users can employ sound security practices to protect their money or use service providers that offer good levels of security and insurance against theft or loss.
Is ECOSC vulnerable to quantum computing?
Yes, most systems relying on cryptography in general are, including traditional banking systems. However, quantum computers don't yet exist and probably won't for a while. In the event that quantum computing could be an imminent threat to ECOSC, the protocol could be upgraded to use post-quantum algorithms. Given the importance that this update would have, it can be safely expected that it would be highly reviewed by developers and adopted by all ECOSC users.
If you wish to get in touch, please fill out the form below. Someone from our team will get back to you shortly.
Ground Floor, Palace Court, Church Street,
ST.Julians - STJ33049, MALTA
Company Registration No - C 90433