[ad_1]
The Russian gas giant Gazprom may soon start using the blockchain to run and monitor commercial contracts.
The company's general manager, Alexey Miller, announced the news at a meeting with Russian Prime Minister Dmitry Medvedev on Wednesday, claiming that Gazprom was now "ready to implement the process" of digitizing the process. Gas supply using distributed ledger technology.
Miller said that alongside Gazprom, a Gazprom subsidiary and Russia's third-largest bank, Gazprombank, "we have developed a prototype technology platform to automate the process of concluding, monitoring and execution of contracts. This system also provides for automated arbitrage and calculation of payments for gas. "
The system is accessible to all parties involved in the process and is "fully protected" from unauthorized alterations and modifications, he said.
Gazprom will initially start working with the "big" industrial consumers to implement automated blockchain processes, according to the CEO.
The Prime Minister was positive in his response, saying that blockchain technology had a "promising" future in the Russian economy, as well as in the activities of companies like Gazprom.
Gazprom has been experimenting with blockchain technology for some time. Last summer, Gazpromneft-Aero, its fueling subsidiary, implemented intelligent contract and blockchain technologies to automate fuel planning and accounting processes.
Another subsidiary, Gazprom Neft, the third largest oil producer in Russia, started testing the blockchain to improve logistics and purchasing management in February 2018. Two months later, Gazprombank planned to let its rich customers trade crypto-currencies, without giving details at the time.
Image of Gazprom gas station via Shutterstock
Source link
