On September 19th Modex announced the launch of its blockchain database platform (BCDB), aiming to reduce project deployment time. Leading oil and gas firm Dietsmann is participating in the pilot. The BCDB platform will be applied to the company’s Data Lab to increase efficiency and security in oil rig operation.
Modex was founded in 2017 with an initial focus on developers as a platform for building decentralized applications (DApps). Last week’s pilot heralds a move by the firm to enterprise products. Its BCDB integrates with existing databases, allowing fast and cost-effective deployment while providing the immutability and security afforded by blockchain.
Dietsmann primarily works on maintaining oil rigs to ensure efficiency and safety. With blockchain, the firm hopes to modernize its database without having to integrate an entirely new system.
The President and founder of Dietsmann, Peter Kutemann, explained how the technology is valuable in a high-risk sector: “Trust is the new currency today, and we’re happy to build that further by better processing the data and delivering better results for our clients, teams and environment.”
He added: “Blockchain is one of the cutting edge technologies that will significantly benefit Dietsmann’s Data Lab and help us not just secure our sensitive information but also open new ways of collaborating with our main clients and suppliers.”
Mihai Ivascu, CEO and founder of Modex, said: “With the launch of Modex BCDB, we’re excited to usher in a new era of enterprise blockchain adoption.”
“We’ve developed Modex BCDB specifically with enterprise needs in mind in order to counteract the high barriers to adoption that have typically kept businesses on the sidelines. Our platform and customers prove that it is possible to leverage the benefits of a blockchain database without long development timelines or high implementation and consulting costs,” he continued.
Last month, Data Gumbo’s blockchain network was adopted by Antelope Water Management for the transparency and security of oil and gas data. More recently, Data Gumbo was contracted by the OOC consortium, which boasts Chevron, Shell and Exxon as members.
However, Modex’s platform more closely resembles Honeywell’s project for aircraft parts. Like Dietsmann, the firm adopted blockchain for data integrity, safety, and traceability.