Blockchain in Logistics and Supply Chain is for shipping, freight carrier, oil and gas midstream companies, cargo brokers, and logistics companies to streamline scheduling, nomination and billing operations with improved speed and transparency using distributed ledgers. For successful oil and gas logistics operations, proper coordination is an absolute necessity, and blockchain distributed ledger and smart contracts can streamline all operations and provide transparency to customers and operators.
The system stores data and valuable information in a chain of blocks, making the data visible to all the stakeholders. These chains make it impossible for third parties to access the information. It also increases transparency between the stakeholders, as one data input is made visible to all the connected blocks.
How EnHelix blockchain works
EnHelix is software leader in providing blockchain in logistics and supply chain solution driven by integrated Artificial Intelligence, Blockchain, and AWS cloud to serve commodity businesses of size and kinds. EnHelix blockchain is a private distributed ledger. It records various transactions between the private parties involved permanently and efficiently. The ledger can be programmed in multiple ways to allow automatic transactions. Blockchain carries all these activities without involving trust keepers or intermediaries. By excluding intermediaries in the chain, blockchain increases transparency and connects all stakeholders well.
The software platform works on top of the best Enterprise-grade framework Hyperledger Fabric on super scalable AWS services – business solutions and technologies packaged for a faster blockchain production system. Enhelix blockchain solutions for the midstream oil and gas sector comprises of three major systems which include:
- EnHelix Marketplace Blockchain system: Here, energy and commodity firms can conduct business transactions using smart contracts in order to reduce paperwork and reconciliation for post-trade and order operations.
- EnHelix Logistics Blockchain system: This was created for midstream, cargo brokers, and logistics companies to streamline their scheduling, nomination, and billing operations with improved speed and transparency using distributed ledgers.
- EnHelix Settlement Blockchain: This is a fin-tech system for all oil and gas, energy, commodity businesses to process, audit, and track all payments and fees.
What are the benefits of EnHelix Blockchain in Logistics and Supply Chain in the Logistics sector?
Some of the major benefits of this technology include:
Nominations and Scheduling Management: Basically, the energy midstream and commodity cargo segment require close coordination between pipeline shippers and downstream customers to ensure the continuous flow of products without disruptions and curtailments. EnHelix logistic blockchain provides the all necessary peer-to-peer smart contracts to ensure nominations process is transparent, timely, and accurate with blockchain technologies. With the application of blockchain processes, it becomes possible to track supplies, products and other resources needed in the midstream level of operations.
Multi Transportation Tracking: The oil and gas midstream and commodity segment work like a utility business. It is highly regulated, which makes the blockchain technology suitable due for transparency and supply chain tracking. During the transportation of both natural gas and crude oil, vast networks of pipelines are involved. Tracking the flow of the products transported by pipelines, cargo ship, and the rail is, therefore, of importance to the stakeholders. With the help of EnHelix blockchain technology, the manual efforts required to track the transport chains is reduced, and thus improving the midstream efficiency.
Finally, EnHelix blockchain in logistics and supply chain plays a huge role in the oil and gas logistics marketplace. If you have not yet adopted it in your business, this is the right time to explore EnHelix oil and gas, energy, and commodity blockchain. You will experience secure smart contracts, logistics, payments, and other benefits in your business.