Today Indian IT firm Wipro announced that it had implemented a trading and fulfillment platform that leverages blockchain. The commodity being traded is small-scale liquefied natural gas (ssLNG), and the client is German company Uniper Global Commodities.
ssLNG is an emerging sector where LNG is used in its liquid form for marine bunker fuel, for trucking, or by electricity utilities in remote areas. In this particular case, the Uniper LNG-for-trucks subsidiary Liqvis is involved. Uniper has a market capitalization of more than €10 billion ($11.8 billion) and is involved in power generation in Europe and Russia as well as global energy trading.
Uniper’s Dr. Grigory Shevchenko said that blockchain would enable “business volume growth without needing a lot of additional headcount to manage transactions.”
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