Рубрика: News

Specialists from Chemexsol and Qiwi Blockchain Technologies presented a joint practical case at the Waves Enterprise Conference titled “Integration of IoT and Blockchain Technologies for the Gas and Petrochemical Industries.” The presentation focused on creating a trusted environment for collecting performance data on specialty chemicals.

Such a trusted environment can be ensured through a new interaction model, particularly the automated SenSef system developed for the Chemexsol platform. Chemexsol is a digital tool for transactions in chemical solutions for the oil & gas and mining industries, enabling users to select products online and place orders for their production and delivery.

The SenSef system includes: data collection from sensors and industrial protocols; secure and immutable storage of data on a blockchain-based infrastructure; creation of smart contracts to calculate the efficiency of specialty chemical applications; use of encryption and access control mechanisms; as well as tools for performance assessment and analysis.

The key benefits of the system include digital verification of completed work and proof of achieved results through sensor data, elimination of data manipulation risks, and reduction of administrative workload.

Each year, the Waves Enterprise Conference brings together technical experts developing blockchain-based solutions and business representatives responsible for digital transformation initiatives. Participants share their perspectives on the impact of implemented technologies, as well as their experience in building technological ecosystems and integrating them into existing business processes.

SenSef will become the first solution aimed at digitalizing the petrochemical industry cluster with a focus on specialty chemicals. The platform is currently undergoing pilot operation, with the official launch scheduled for 2020.

SenSef is a blockchain-based tool designed to collect data on the effectiveness of specialty chemical applications. It enables suppliers and customers to conclude and execute smart contracts automatically.

The platform is intended to address the following key challenges in the petrochemical industry:

• The need for manual data collection;
• Low levels of trust between market participants;
• Excessive bureaucracy and duplication of processes;
• Lack of tools for regular monitoring and analysis of chemical reagent application.

The platform will enable contracts where financial settlements are directly linked to performance quality indicators of completed work and delivered products, while also ensuring contract execution control. SenSef’s functionality includes recording and securely storing data on chemical reagent usage, calculating chemical efficiency, and generating work acceptance certificates for counterparties.

The project is planned to be implemented using a private blockchain network based on Ethereum.

The projected annual platform workload is approximately 1 million contracts per year. One of Russia’s leading banks will serve as the technological provider for banking transactions within the digital solution.

Mirrico Group’s investment in this innovative digital solution will exceed RUB 50 million.

Qiwi Blockchain Technologies (QBT) is a company specializing in the development of proprietary digital products, as well as the implementation and adaptation of blockchain technology and related solutions for medium and large enterprises. It is a subsidiary of Qiwi.

Ethereum is a platform for building decentralized online services based on blockchain technology and powered by smart contracts.

Marketing specialists, IT project development experts, potential clients, and investors provided their recommendations regarding the presentation format, product positioning, and the next stages of the project’s development.

The validation of business hypotheses and the discussion of the strengths and weaknesses of the SenSef platform took place in an informal yet productive working atmosphere. The event enabled the project’s developers to identify new focus areas for further improvement.

The purpose of the meeting was to collect expert opinions on the project’s opportunities and potential risks.

The event brought together representatives of equipment manufacturers Siemens and Schneider Electric; system integrators Tatintek and TatASU; experts from MegaFon; Universa, a software development partner; as well as oil and gas market participants including Oil Industry of Serbia (NIS a.d. Novi Sad) and TGT Oilfield Services.

Rustam Sattarov, Director for Business Development and Digitalization, commented:

“The product is being created for a broad audience, and it is important for us to gain the trust of all participants in the oilfield services market. The meeting proved to be highly valuable: we received feedback from oil companies and learned from the experience of enterprises with advanced software solutions in other industries.”