DISTRIBUTED LEDGER IN OIL AND GAS DEPOT TRANSFERS
DE602021054840T2Active Publication Date: 2026-05-27SCHNEIDER ELECTRIC SYSTEMS USA INC
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Patent Information
- Application Number
- DE602021054840
- Authority / Receiving Office
- DE · DE
- Patent Type
- Patents
- Current Assignee / Owner
- Priority Date
- 2020-11-30
- Filing Date
- 2021-11-25
- Publication Date
- 2026-05-27
- Estimated Expiration
- 2041-11-25
AI Technical Summary
Technical Problem
Disputes and mistrust over the reliability and accuracy of data in oil and gas custody transfers lead to misinterpretation of contracts and value exchange issues, necessitating improved data immutability and authentication.
Method used
Utilizing distributed ledger technology, such as blockchain or DAG, to create a tamper-proof and decentralized data storage system that securely accumulates and authenticates custody transfer data, with smart contracts for automated transactions.
Benefits of technology
Ensures data immutability and trustworthiness, reducing disputes and facilitating transparent, automated value exchanges.
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