DISTRIBUTED LEDGER IN OIL AND GAS DEPOT TRANSFERS

DE602021054840T2Active Publication Date: 2026-05-27SCHNEIDER ELECTRIC SYSTEMS USA INC
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Patent Information

Authority / Receiving Office
DE · DE
Patent Type
Patents
Current Assignee / Owner
SCHNEIDER ELECTRIC SYSTEMS USA INC
Filing Date
2021-11-25
Publication Date
2026-05-27

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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