Block Gemini lever­ages blockchain to op­ti­mise lo­gis­tics

Dubai startup Block Gemini has worked with Tris­tar Group to pro­vide blockchain so­lu­tions for lo­gis­tics and trans­porta­tion

Oil & Gas Middle East - - NEWS -

Dubai-based startup Block Gemini de­vel­oped a blockchain lo­gis­tics so­lu­tion which it de­ployed with Tris­tar Group.

“We are mainly fo­cus­ing on sup­ply chain ini­tia­tives so we have a last mile de­liv­ery track and trace so­lu­tion,” says Block Gemini co-founder and CEO, Christo­pher Fer­nan­dez.

He and his brother co-founded the startup in 2017 with ‘smart con­tracts’ in mind. With blockchain-en­abled smart con­tracts, bu­reau­cratic pro­cesses be­come more trans­par­ent.

Smart con­tracts are a set of rules placed on top of a blockchain which all par­ties agree to. If those rules and con­di­tions are met, the smart con­tract can ne­go­ti­ate the pend­ing trans­ac­tion or agree­ment.

“It re­moves lay­ers of bu­reau­cracy and puts it all in one process,” Fer­nan­dez says. “Ev­ery­one is on the same dis­trib­uted ledger, and this is very im­por­tant in the oil in­dus­try when you might be sign­ing a deal or there are spe­cial con­di­tions in place.”

In­deed, deals are made ev­ery day be­tween op­er­a­tors, con­trac­tors, oil­field ser­vices providers, sup­pli­ers and any other rel­e­vant in­dus­try play­ers.

For lo­gis­tics, Block Gemini cre- ated a “last mile de­liv­ery track and trace so­lu­tion that al­lows in­te­gra­tion be­tween mul­ti­ple par­ties.”

It es­sen­tially al­lows trans­parency and over­sight into the trans­porta­tion process, mak­ing it easy to see where trucks are go­ing and how long their route is tak­ing them, for ex­am­ple.

“This in­volves us hav­ing mo­bile de­vices which con­tain blockchain SDKS,” Fer­nan­dez says. “These SDKS re­port de­cen­tralised data to the blockchain, and once the data is on the blockchain it al­lows or­gan­i­sa­tions to en­ter into smart con­tracts.”

The data is also tam­per-proof, so no one in­volved in the trans­ac­tion can al­ter any sen­si­tive data.

For an in­dus­try like oil and gas, this ef­fi­ciency could be a game changer.

“IT RE­MOVES LAY­ERS OF BU­REAU­CRACY AND PUTS IT ALL IN ONE PLACE. EV­ERY­ONE IS ON THE SAME DIS­TRIB­UTED LEDGER”

Christo­pher Fer­nan­dez is the co-founder and CEO of Block Gemini

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