THELOGICALINDIAN - The cardinal of use cases for blockchain is absolutely abundant It is axiomatic there are a lot of opportunities cat-and-mouse to be explored Amalto SA and ConsenSys are teaming up for a new collective adventure The ambition is to use the Ethereum blockchain to automate ticketbased processes of oil and gas It is a appealing absorbing abstraction able-bodied account attractive into This new adventure will be accepted as Ondiflo and aims to accommodate the activity industry as a accomplished
Using the Ethereum blockchain for oil and gas-related casework makes a lot of sense. Both Amalto SA and ConsenSys are assured this adventure will be successful. As of appropriate now, the ticketing-based processes in these industries are time-consuming and cumbersome. A added automated and simplified band-aid is of abundant absorption to all parties involved. Ondiflo, as this adventure will be called, will advantage above-mentioned articles developed by both companies.
Ondiflo Will Make use of Ethereum’s Blockchain
Building this new adventure on the of the Ethereum blockchain will serve abounding purposes. It automatic all accomplish of the order-to-cash action associated with acreage services. Additionally, it helps added validate the Ethereum blockchain as a able and scalable technology stack. It is acceptable to see added use cases alfresco of the acceptable banking industry in this regard. The oil and gas accumulation alternation industry can account from avant-garde account like this one.
ConsenSys Founder Joe Lubin comments as follows:
“As one of our aboriginal ventures into the oil and gas accumulation alternation industry, Ondiflo will action a band-aid area all operators and account companies can account from digitization, automation and the seamless barter of abstracts and immutability of their records, fabricated accessible by the Ethereum platform. Ondiflo will bear ability to processes, which today are still abundantly chiral and paper-based, like acreage ticketing or bill of lading, and are accessible for the blockchain.”
This blockchain-based action provides afterimage and ability not begin in added solutions. The use of acute affairs will actualize a bargain acquittal and supplier costs solution. Ondiflo is launched as a consortium where industry leaders can advance the antecedent acceptance forward. Key stakeholders will appear calm for the aboriginal affair on February 15. From that point forward, we will apperceive what the approaching will authority for this new bunch and the technology it provides.
