Wipro deploys blockchain solution for natural gas unit, Uniper

Wipro has now implemented a Blockchain-powered small scale liquefied natural gas trading or fulfillment platform for the German technology solutions giant, Uniper Global Commodities SE.

The blockchain solution was specifically built for the LNG for trucks subsidiary of Uniper called Liqvis.

As an emerging sector, ssLNG is primarily used as a fuel for heavy road transport such as marine projects, trucks, or in power generators that are offshore.

Dr. Grigory Shevchenko, Senior Account Manager Gas Supply and Origination, LNG Business Development, Uniper said, "Uniper’s strength is its customer-centricity, product creation and market development. Building upon that when we enter more downstream logistics-heavy markets, we encourage the use of innovative technologies to optimize our processes and operations. Blockchain will enable business volume growth without needing a lot of additional headcount to manage transactions. This will be true for us and our counterparts that will engage with Uniper through the paperless blockchain platform. The ssLNG trading platform provides for easy scalability and enhancements based on the growing marketplace. To achieve this, we jointly deployed the required building blocks such as security, distributed computing and node network."

Sarat Chand, Vice President and EMEA Utilities Business Head, Wipro Limited said, "We are delighted to build and implement the Small Scale LNG blockchain platform for Uniper and support their initiative to promote LNG as an advanced and environmentally friendly fuel alternative. The platform helps Uniper’s LNG-for-trucks subsidiary Liqvis ensure that LNG is always available when and where it is needed and achieve price security through Uniper’s long-term LNG supply contracts and seamless supply chain execution. This is a landmark partnership between Wipro and Uniper. Our Utilities ETRM business competency combined with industry leading blockchain expertise has enabled Uniper to modernize its trading platform, reduce friction, improve process efficiency and simplify settlements in business processes."

The platform is built in collaboration with the Dusseldorf, Germany Uniper, and uses a consortium model for all ssLNG market participants. The solution increases cost savings and improves efficiency.

The solution would also going to help Uniper streamline trade by reducing turnaround time; effort as well as to enable scalability.

For Uniper’s customers, the blockchain-based platform would help in their trade cycles by enabling digitization and exchange of documents, real-time sharing of information, and alerts, along with an audit trail of activities performed.

Shevchenko added that the two companies have jointly developed distributed computing, security, and node network to make the platform viable for new deployment and easily scalability.

Wipro has been an active participant in many distributed ledger technology consortia and alliances, including the Hyper-ledger project, the Ethereum Enterprise Alliance, the Energy Web Foundation, and the Blockchain in Transport Alliance.

PC: Pablo, Pixabay