Blockchain technology could alleviate many of the above challenges. By using blockchain, every shipment transaction adds to a growing, permission-based, shared digital data flow, which serves as the single source of truth between the carrier and shipper. Starting with the contracted rates as the first block, the distributed database continues to record events from the freight order to the payment submission.
To calculate an invoice, the origin-destination pair from the freight order is matched to the agreed-upon rate, which is embedded into the blockchain using a smart contract, or business logic. Additional track-andtrace capabilities could also be appended onto the blockchain to provide shipment visibility in real time, as well as record the movement to calculate miles driven.
Accessorials would be automatically calculated using the business logic and inputs from the miles driven, idle time or other circumstances from the shipment. Invoices and remittances are automated and sent on the same chain that began with the contracted rate.A major portion of the funds raised from the Permian Token (XPR) initial token offering will be dedicated to acquiring hard assets with Proven Reserves (the “Reserves”) by making a direct investment into existing upstream and midstream companies. The Proven Reserves are the reserves that are explored and identified as an estimated quantity of all hydrocarbons statistically defined as crude oil or natural gas, which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions.
The acquisition targets and existing and future portfolio companies will be listed on the PermianChain platform (“Platform Prospects”). XPR tokens will be issued in proportion to the available offerings. Platform Prospects applicable for listing on the PermianChain platform are mainly upstream businesses or public entities with proved undeveloped reserves and existing oil campaigns. The Reserves, once produced, will be sold to the midstream companies on our closed-loop-B2B-exchange via blockchain (PermianChain).

The Company is currently working on the development of a trust protocol for the oil & gas industry with distinct purposes:
a) The first purpose serves as a private trust protocol which traces XPR holders’ interest in the Reserves. The ledger provides information on oil production, oil supply, oil demand and other traces of the underlying Reserves in question.
b) The second purpose is a Blockchain-as-a-Service technology (BaaS) which will serve as a closed-loop-B2B-Exchnge for oil & gas companies (the “PermianChain”). The PermianChain will streamline exploration, production and shipping of oil via blockchain, smart-contracts and multi-signature features.
c) The third purpose of the PermianChain is to integrate an oilfield Artificial Intelligence and Blockchain for the purpose of generating data that would allow for more sustainable methods of oil exploration and production. Integrating an upstream artificial intelligence and eventually midstream and downstream components.
d) The fourth purpose of the PermianChain is to allow continued future developments of our technology to trace proven natural resources beyond oil & gas, to allow the world access to proven natural resources.