OilWellCoin (https://oilwellcoin.io/) is the first project in the world aimed at solving the problem of financing and developing the oil industry on the basis of blockchain technologies. It is based on a proprietary platform that operates cryptoactive assets. Funding will be provided by issuing tokens and pre-selling virtual certificates, which further provide a discount of 20% of the market value for each barrel of oil produced in the project. The funds raised from the pre-sale of certificates will be used to extract oil from fields owned by the OilWellCoin group of companies.

Project OilWellCoin was created by a group of professionals with a combined experience of more than 40 years in the field of geological exploration of oil fields and oil production in Russia and in the world. Among the project participants are the oil producing company Demiurge LLC and the technology company Hadius Pro Marketing Pte. Ltd., which is the official developer of the OilWellCoin platform and distributor of discount certificates for products produced by Demiurge LLC. The first project to raise funds and carry out further work on the production and sale of oil is planned by the OilWellCoin platform team to implement on the basis of its own oil and gas wells of one of the company's sites.

All funds received by the OilWellCoin group of companies will be used to purchase the necessary equipment for drilling and workover, production of raw materials from these wells, transportation and sale of oil produced. The time cycle from the purchase of the necessary equipment to the sale of oil on the market will be 9-12 months. The volume of sales in the domestic market is planned at a rate of 100%.

The capabilities of the OilWell platform, due to the new financing mechanism, allow the project to scale up and develop new fields, both in Russia and in other countries, as well as launch other processes that exist in the industry, for example, oil transportation, production of oil products and etc.