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Russian oil giant Gazprom Neft trials blockchain technology in cargo shipment

Gazprom Neft, one of the largest oil producers in Russia, has tested distributed ledger technology in logistics, BitNovosti reported.

The company and its subsidiary Gazprom Neft-Supply applied the technology to the shipment of pipeline valves from Veliky Novgorod to Prirazlomnaya offshore platform in the Pechora Sea. Radio-frequency identification (RFID) marks and a GPS-sensor were installed on the cargo.

“At the stage of shipment from the manufacturer in Veliky Novgorod, after reading RFID tags, a document with information about the delivery was formed. GPS sensor allowed [us] to [manage] the movement of cargo to the storage base in Murmansk [by controlling] the speed of its movement, the number and duration of stops in transit. All the data received from the devices were fixed by a smart contract and reflected in the blockchain,” according to the official release (loosely translated).

Blockchain technology ensured that the shipment, all accompanying processes and document flow were inextricably linked and that all participants were able to access reliable information in encrypted form.

The company said that the successful implementation of the pilot project confirmed the possibility of using blockchain technology in supply chain management. Gazprom Neft is considering other areas for implementing the technology.

“[Blockchain in logistics] will create an ecosystem for the interaction of all participants in the process, such as producer, inspector, logistics operator, warehouse and consumer. We see the potential for the development and further application of technology, "said Abdulla Karaev, Director of Purchasing and Capital Construction Directorate of PJSC Gazprom Neft.

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