Wipro, the Bengaluru-headquartered IT services exporter, has build a blockchain-based small-scale liquefied natural gas (ssLNG) trading platform for energy major Uniper Global Commodities SE and its 100% LNG-for-trucks subsidiary, Liqvis GmbH.
It uses a consortium model for all ssLNG market participants to help transform the trading market space to bring in efficiencies and “significant” cost savings for traders. Wipro said the platform is aimed to simplify the commodity supply chain and enable growth of the logistics-heavy decentralized LNG-for-trucks business.
“Blockchain will enable business volume growth without needing a lot of additional headcount to manage transactions. This will be true for us and our counterparts that will engage with Uniper through the paperless blockchain platform. The ssLNG trading platform provides for easy scalability and enhancements based on the growing marketplace,” Grigory Shevchenko, Senior Account Manager Gas Supply and Origination, LNG Business Development, Uniper, said.