Digitization
Wipro implements blockchain for Uniper
The platform built in collaboration with Uniper utilizes a consortium model for all ssLNG market participants to help transform the trading market space resulting in market efficiencies and significant cost savings for traders.
- By Pravin Prashant
| August 21, 2020
Wipro today announced the successful implementation of a blockchain-based small-scale liquefied natural gas (ssLNG) trading/fulfillment platform for Uniper Global Commodities and its 100% LNG-for-trucks subsidiary Liqvis.
The platform built in collaboration with Uniper utilizes a consortium model for all ssLNG market participants to help transform the trading market space resulting in market efficiencies and significant cost savings for traders.
Uniper selected Wipro to build the blockchain platform to address the complexity of the European ssLNG market. The platform implemented by Wipro involves multiple peer-to-peer trading cycle participants, enables order and supply placement, delivery of goods, validation of the state of goods and bill settlements.
Dr. Grigory Shevchenko, Senior Account Manager Gas Supply and Origination, LNG Business Development, Uniper said, “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.”
Sarat Chand, Vice President and EMEA Utilities Business Head, Wipro said, “The platform helps Uniper’s LNG-for-trucks subsidiary Liqvis ensure that LNG is always available when and where it is needed and achieve price security through Uniper’s long-term LNG supply contracts and seamless supply chain execution."
Krishnakumar N Menon, Vice President - Service Transformation and Blockchain Theme Leader, Wipro said, “The blockchain-based platform benefits Uniper and its customers in their trade cycles by enabling digitization and exchange of documents; real-time sharing of information and alerts for an immutable audit trail of activities performed.”
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