The oil industry is one of the most profitable industries in the world. This is not surprising given that oil has a wide range of uses ranging from fuel creation for use in vehicles to construction and agricultural machinery. It was therefore only a matter of time before the blockchain technology was adopted in this profitable sector.
What Is Smart Refinery Technologies?
Smart Refinery Technology Group (SRT) is the first company globally to incorporate the blockchain technology in the oil industry.
SRT uses the blockchain technology to integrate mini oil refineries across the globe in an information network allowing participants to get income from them.
Smart Refinery Technologies Objectives
- Enhancing benefits that accrue to society by not only improving the quality of oil by ensuring they comply with safe environmental practices but also increases consumer access to the quality fuel.
- Creation of the world’s first global network of small oil refineries that have economic value for the platform’s participants.
- Active involvement of SRT-coin token holders in developing the platform and receiving revenue.
How Smart Refinery Technologies Oil Blockchain Network Works
SRT is a manufacturer of high technology oil refinery equipment for small oil refineries. Its equipment can produce high-quality motor fuels (EURO 5 class) which only used to be produced by large oil refineries. With this new equipment, small oil refineries can significantly reduce production costs and increase their revenue and profits.
The refining modules will not be for sale; they will be rented out for long-term use.
For a company to rent the equipment, a royalty (license fees) payment dependent on the volume of processed raw materials is a must.
This royalty will become the main source of money for SRT and project participants doing transactions on the platform.
Smart Refinery Technologies Payment Structure
- The small oil refineries within the network will pay royalties to the SRT Group Company for each ton of processed oil.
- All calculations will be done and recorded in the blockchain automatically enhancing the transparency and reliability of the platform.
- Royalties can be paid in either fiat money or SRT Coins. Paying with the tokens entitles one to a 20% discount on the payment amount. This discount will act as an incentive to investors to use tokens rather than fiat money on the platform.
- SRT will continuously reduce the numbers of tokens in circulation. 80% of the tokens coming in as royalties will be removed from circulation by destruction leaving the total number of tokens lesser by the day.
- The SRT coin price will be market regulated depending on the supply and demand and set based on the results of the stock exchange transactions related to token purchase and sale ensuring token holders always have a fair price.
- This stabilization of token prices will ensure there is a constant, steady demand for them.
Smart Refinery Technologies SRT Token ICO Details
- Token symbol: SRT
- Total number of tokens: Not more than 100,000,000 SRT
- ICO: 2018
- Selling Price: $0.5 – $5
- For Sale – 62%
- Team and Advisory Board – 26%
- Referral Program – 6%
- Bounty – 3%
- ICO organizers and advisors – 3%
Allocation Of Funds
- Blockchain platform – 6.43%
- Equipment for oil refineries in Russia and Kazakhstan – 20%
- International IP protection and lawyers – 1.86%
- Equipment for oil refineries in USA and MENA region – 28.57%
- Adaptation of equipment for the local markets – 3.43%
- Production and F&D center – 4%
- Global program of the equipment rent – 14.29%
- Administrative expenses and marketing – 8.57%
- Reserves – 12.86%