Home Blockchain Natural Gas-Powered Trucking Could Get a Boost From Blockchain Tech

Natural Gas-Powered Trucking Could Get a Boost From Blockchain Tech



Natural Gas Powered Trucking Could Get a Boost From Blockchain Tech

German energy firm Uniper Global Commodities SE has implemented a blockchain-based platform for its small-scale liquefied natural gas customers (ssLNG). 

Using the platform, Uniper expects to make its trade process more efficient and also streamline LNG distribution for its LNG-for-trucks subsidiary, Liqvis GmbH.

Rising concerns regarding air pollution have moved major companies towards utilizing eco-friendly fuel such as LNG in the transport industry, especially in commercial trucks. This has made it more crucial to make ssLNG trade process more efficient.

However, most small-scale businesses face difficulties utilizing the growing demand for LNG due to the lack of a cost-effective supply chain. They also lack the experience in handling the safety challenges involved in the creation and maintenance of these supply chains.

To help small-scale companies surmount these hurdles, Uniper had developed the platform in collaboration with the Indian IT service provider Wipro. 

In an announcement on Aug. 21, Wipro had said that currently, the ssLNG market had been burdened with extensive manual and paper-based transactions that resulted in high operation costs.

The blockchain platform developed by Wipro is expected to reduce manual paperwork. It will use a consortium model for Uniper’s ssLNG customers that will help reduce turnaround time and other inefficiencies while adding transparency and scalability.

The platform will bring together multiple peer-to-peer trading cycle participants and enable them to place orders, add supply, execute delivery of goods, validate the state of goods and settle bills. It will automate all these processes through the use of smart contracts. 

Both companies expect the platform to significantly reduce the time and cost spent on executing the trades. Wipro’s blockchain theme leader Krishnakumar Menon said:

“The blockchain-based platform benefits Uniper and its customers in their trade cycles by enabling digitization and exchange of documents; real-time sharing of information and alerts for an immutable audit trail of activities performed.”

Addressing the same, Grigory Shevchenko, a Uniper senior account manager, said that the paperless blockchain platform will help them expand their business without necessarily hiring more people to manage trade transactions.



Read orginal here

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
474FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,581FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.18
GBP
1.29
CHF
1.10
NOK
0.11
JPY
0.01
CAD
0.76
AUD
0.73

Most Popular

Cardano long-term Price Analysis: 21 September

Most of the industry’s altcoins are struggling to make-do in the present market. With all the bullish market momentum fizzling out in early-September,...

European central bank execs explain why CBDCs don’t need blockchain

Global central bank digital currencies, or CBDCs, do not require the use of blockchain technology, according to executives at major European central banks.Thomas Moser,...

Monero, Synthetix, Crypto.com Coin Price Analysis: 21 September

Monero has been on a healthy uptrend for a while, but that might change in the short-term after it flashed a bearish signal...
bitcoin
Bitcoin (BTC) $ 10,431.56
ethereum
Ethereum (ETH) $ 338.30
ripple
XRP (XRP) $ 0.233038
tether
Tether (USDT) $ 0.999068
bitcoin-cash
Bitcoin Cash (BCH) $ 211.26
bitcoin-cash-sv
Bitcoin SV (BSV) $ 144.65
litecoin
Litecoin (LTC) $ 42.92
eos
EOS (EOS) $ 2.52
binancecoin
Binance Coin (BNB) $ 22.94
okb
OKB (OKB) $ 5.84
tezos
Tezos (XTZ) $ 1.96
leo-token
LEO Token (LEO) $ 1.21
cardano
Cardano (ADA) $ 0.078893
monero
Monero (XMR) $ 87.08
stellar
Stellar (XLM) $ 0.070315
chainlink
Chainlink (LINK) $ 8.79
huobi-token
Huobi Token (HT) $ 4.52
tron
TRON (TRX) $ 0.025009
usd-coin
USD Coin (USDC) $ 0.998978
dash
Dash (DASH) $ 65.67
neo
NEO (NEO) $ 20.08
iota
IOTA (MIOTA) $ 0.239675
nem
NEM (XEM) $ 0.105803
zcash
Zcash (ZEC) $ 53.17
maker
Maker (MKR) $ 444.46
paxos-standard
Paxos Standard (PAX) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 4.69
vechain
VeChain (VET) $ 0.012485
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 3.49
kucoin-shares
KuCoin Shares (KCS) $ 1.04
waves
Waves (WAVES) $ 2.17