Software
development company Amalto has partnered with blockchain firm ConsenSys
to develop a blockchain platform for the oil and gas industry.
Founded in 2005 in Paris, Amalto develops and operates
business-to-business (B2B) document exchange software solutions and
provides system integration services. It serves the oil and gas,
industrial, environmental, and enterprise markets.
Amalto is a private company owned by its management, employees, and
venture capitalists. It has offices in the US, France and Canada.
ConsenSys is a blockchain technology company founded by Joseph Lubin.
The company is developing a variety of applications which operate on
the global distributed computing platform. Its focus is on facilitating
the empowerment of people and enabling decentralized governance through
the development of software tools that devolve power from the
traditional “command and control hierarchies inappropriate for a networked world.”
The two companies, along with entrepreneur and startup investor
Sandro Giannetti, will fund and create an ethereum blockchain platform
called Ondiflo. The platform will be designed to transform the complex
and time-consuming ticketing-based processes in the oil and gas
industry.
It will leverage each company’s pre-existing products – Amalto’s
Platform 6 and ConsenSys’ cloud-based dashboard TMS – to create the
first end-to-end solution for the industry.
The companies said the platform will be launched as a consortium, where operators, suppliers, and financial institutions will lead the initial adoption of the solution by the industry, leveraging existing standards like PIDX. It will be headquartered in Houston, Texas.
“As one of our first ventures into the oil and gas supply chain
industry, Ondiflo will offer a solution where all operators and service
companies can benefit from digitization, automation, and the seamless
exchange of data and immutability of their records, made possible by the
ethereum platform,” said Joe Lubin, co-founder of ethereum and founder of ConsenSys.
“Ondiflo will deliver efficiency to processes, which today are
still largely manual and paper-based, like field ticketing or bill of
lading, and are ready for the blockchain.”
“By seamlessly managing data from Internet of Things (IoT) sensors at the well site or the storage terminal to the fulfillment stage—and,
eventually, to the payment stage, and by bringing all stakeholders and
trading partners to the blockchain, Ondiflo is going to radically change
how the industry manages its back-office,” said Jean-Pierre Foehn, CEO of Amalto.
“It will increase the level of trust between operators and suppliers, and also improve regulatory compliance.”
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