Blockchain-as-a-Service (BaaS) firm BlockApps has partnered with software program consulting agency Optimum to develop a blockchain answer for monitoring power utilization.
A founding member of the Enterprise Ethereum Alliance (EEA), BlockApps is the developer of a cloud-agnostic blockchain platform, STRATO, designed to function a versatile base layer for varied enterprise community transactions and actions.
Optimum is a software program consulting agency centered on the oil and gasoline, manufacturing and building industries. As a part of a strategic partnership introduced on March 27, Optimum has now joined the BlockApps Associate Community — a bunch of expertise and repair suppliers and blockchain consultants cooperating on software growth and integrations for STRATO.
Of their announcement, BlockApps and Optimum allude to latest “intense strain” on the worldwide power trade, triggered by a worth battle within the oil sector, strained provide chains and the financial shocks rippling by way of world markets through the COVID-19 pandemic:
“Verifiable, granular power utilization monitoring is a mission-critical want for the power trade and will likely be a necessary a part of any answer to enhance administration of future shocks in provide and demand.”
Optimum plans to implement BlockApps’ STRATO platform to develop and customise blockchain options that may deal with the wants and challenges of their shoppers within the oil and gasoline, manufacturing and building sectors at a juncture of unprecedented challenges.
U.S. crude oil costs have now dropped to an 18-year low of under $20 a barrel. The sector faces a glut of provides and inadequate storage for reserves as a result of collapsing international demand. Various North American shale producers are already reported to be on the point of chapter.
In Could 2019, BlockApps partnered with the agricultural division of pharmaceutical and life science big Bayer AG — which acquired the agrochemical and agricultural company Monsanto in 2018 — to cooperate on a sequence of joint blockchain initiatives.
BlockApps’ connections embrace integrations with main cloud suppliers Azure, Amazon Net Providers, and Google Cloud Platform and the quite a few blockchain start-ups, analysis teams, Fortune 500 corporations and banks — amongst them JPMorgan and Cisco — of the EEA.