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Russian Gas Giant Gazprom Moves into Blockchain

news - Russian Gas Giant Gazprom Moves into Blockchain

Russia’s state-owned gas giant Gazprom has unveiled plan to move into blockchain to execute and monitor business contracts.

“Gazprom is now ready to start implementing the process” of digitizing the gas supply process using distributed ledger technology in its operations,” the firm’s CEO, Alexey Miller, told at a meeting with Russian prime minister Dmitry Medvedev.

The Gazprom’s blockchain system is accessible by all parties involved in the process and is “fully protected” from tampering and unauthorized alterations, he said.

Gazprom will initially start working with “major” industrial consumers to implement the blockchain-based automated processes, according to the CEO.

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As a reminder, last summer, Gazprom’s aviation refueling subsidiary Gazpromneft-Aero implemented blockchain and smart contract technologies to automate planning and accounting processes in fuel supplies.

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