Blockchain news

Natixis/IBM/Trafigura on Hyperledger. BP/ENI/Wien on BTL Group’s Interbit. Xpansiv Data’s digital feedstock on GEM OS. IBM/Energy Blockchain Labs on Hyperledger.

Natixis, IBM and Trafigura have announced a blockchain solution to support trade finance for US crude oil transactions. The distributed ledger platform, built on a ‘permissioned’ version of the Linux Foundation’s open source Hyperledger Fabric, captures major steps in crude oil transactions into a blockchain, ensuring improved transparency, enhanced security, and optimized efficiency. All parties share the same ledger and can track the status of a transaction, from the time a new trade is confirmed and validated, to when the crude is inspected, delivered and the letter of credit cancelled.

Following a successful trial, BP, Eni Trading & Shipping and Wien Energie are going live with a BTL Group’s ‘Interbit,’ ‘proprietary, private’ blockchain-based energy trading platform. BTL is inviting other energy companies to join in the six month ‘go-to production’ phase which will see the launch of a commercial version of the energy trading solution, linked into live environments. BTL is also working on the applications of its technology in other contexts. EY partnered on the pilot.

San Francisco-based Xpansiv Data has announced the ‘world’s first’ Digital Feedstock for commodity markets. The proof of concept used production data from Wyoming-based natural gas producer Carbon Creek Energy to create a digital representation of CCE’s plant atop of Xpansiv’s registry and marketplace applications. These run on Gem OS, a blockchain interoperability platform that works across protocols including Ethereum, Hyperledger and more. Xpansiv now generates its ‘digital feedstock’ at thousands of CCE’s ‘frack-free’ well sites daily.

IBM and Beijing-based Energy Blockchain Labs have rolled out the ‘world’s first’ blockchain-based green asset management platform based (again) on the open source, openly governed Hyperledger Fabric.

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