Octaneum's Resource Management System allows for foolproof tracking of high-value assets and human resources to determine their whereabouts and their utilization.
This is particularly useful when applied to vehicles and physical assets that are transportable and applied to various job sites.
With Octaneum, you will have access to global connectivity, a variety of devices for any need and a powerful platform to manage the data.
We offer connectivity with our cellular IOT devices throughout 196 countries and over 550 carriers along with seamless satellite and Lora solutions for visibility in remote areas with limited cell coverage.
Combining our tracking system with AI and Blockchain creates automated supervision of these critical management elements while providing immutable records in support of real-time transactions, including payments.
With our platform and integrated mobile application, you can manage fieldwork, locate and dispatch drivers, assign and track tasks and verify the completion or status of such task. A combination of node verification and geo-fence activated employee/asset tracking creates the transparency needed to determine inefficiencies and maximize existing processes.
Our task management and proprietary proof of work systems utilize time stamped photos and videos, Smart Contracts, and blockchain to authenticate status which allows for the most efficient operation while shrinking the gap in accounts receivables and payables.
An oil and gas company’s relationship with a landowner and his reputation in the region in which he chooses to explore and produce is often dependent upon how the company communicates and responds to the many clauses in the minerals lease. The conditions and clauses contained in a typical minerals lease can be complex, requiring extraordinary man hours for record-keeping and reporting.
Our system utilizes the Blockchain as an immutable ledger in support of the progress of exploration and production of oil and gas on the property. The complexity of the lease agreement can be managed by the use of Octaneum Smart Contracts. Applying artificial intelligence to manage this process relieves management and supervision of tedious recording and reporting and the resultant performance creates a unique bond and trust between the landowner and the producer.
A minerals lease is an agreement between the landowner (lessor) and an oil and gas company (the lessee) to allow the lessee to have access to the property to explore for and extract minerals, commonly oil and gas, from the property. Such a lease will typically have many variables and control elements, each of which requires management and therefore is uniquely suited to be controlled and recorded using Blockchain technology.
The management elements that are suited for the application of smart contracts include:
Within the industry, there are procedures and regulations in place to manage and report on the many obligations between the operator and the land owner. Automating and integrating the information relating to these obligations utilizing Blockchain would be beneficial to both lessee and lessor.
Octaneum is currently developing a Marketplace for the buying and selling of physical commodities and services along with the logistics solutions for fulfillment. Our trading platform provides a true auction market with real-time information regarding market conditions, price and market depth. Our intuitive match making engine will create more options and opportunities while leveling the playing field in many emerging markets.
IIoT (Industrial Internet of Things) is part of the Industry 4.0 trend. It incorporates machine learning, big data technologies, sensor data, M2M communication and automation technologies. The philosophy behind IIoT, according to TechTarget, is that "smart machines are better than humans at accurately, consistently capturing and communicating data.”
Octaneum is devoted to connecting EVERYTHING, so we commonly use the term IOE (Internet of Everything). The IoE is a concept that extends the IoT emphasis on M2M communications to describe a more complex system that also encompasses people and processes.
AI is intelligence exhibited by machines, sometimes referred to as machine intelligence. AI machine learning analyzes data, makes assumptions, learns and provides predictions at a speed and depth of detail impossible for individual human analysts. AI is what’s bringing a lot of our IoT Things to life, like Amazon Echo’s “Alexa.”
Blockchain is a distributed database that serves as a public ledger of all transactions in a given system that have ever been executed. The blockchain is constantly growing as newly completed blocks are added to it. Blocks of transactions are added in a linear, chronological order through cryptography, ensuring that the blockchain is a tamper-proof record of all transactions on the network. While these records are typically accessible to all participants, Octaneum often times implements permissioned blockchain due to the sensitive nature of our industries’ data.
A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties. These transactions are trackable and irreversible.
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