The US Department of Homeland Security (DHS) has made a Phase 4 contract award of almost $200,000 to blockchain firm Neoflow to digitally trace natural gas and crude oil transiting from Canada to the United States.
The objective is to prevent fraud, so the solution uses verifiable credentials, decentralized identifiers and distributed ledger technology to address this.
“Phase 4 is the last stage of the development process and will include a technical demonstration of the Neoflow Platform. The award is recognition of the effort of our industry and DHS partners and the Neoflow team to develop a technology that will modernize the cross-border movement of oil and natural gas”, said Jim Oosterbaan, CEO of Neoflow.
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