The mission of the project may be the implementation of blockchain technologies in the oil refining industry on a worldwide scale. Since 2012, the initiator of the job Smart Refinery Technology Group is a programmer and distributor of high-tech refining apparatus for small and channel refineries. The company is rolling out technological processes and tools based on new era zeolite catalysts. The proposed device will considerably (often many times!) Raise the profitability of small refineries by raising the depth of essential oil refining and enhancing the caliber of petroleum items created - gasoline and diesel gas. SRT equipment is conveniently built-into existing mini-refineries, and besides permits you to generate new production of electric motor fuels there quickly, petrol and access to recyclables for processing.
The technical architecture of the blockchain platform Smart Refinery Technologies (SRT) is founded on the principles of fabricating open source applications that incorporate smart contract templates, tools for creating and infrastructure because of their operation. The SRT system will are powered by the Ethereum blockchain bottom using the Proof Authority (PoA) consensus system.
An essential element of the SRT blockchain program will be “Industrial Net of Things” (IIoT, “Industrial (Industrial) Net of Things”) - a distributed network infrastructure integrated with the professional process control program of commercial equipment. Includes digital sensors and interworking protocols for merging sensors and controllers of the automated approach control system right into local networking and integration into the blockchain. This will automate the assortment of info on the procedure of equipment, the purchase for having to pay royalties and offer global provider support for the engineering center of the gear supplier.
PLATFORM ADVANTAGES
• Fuel exchange and development of business processes automation predicated on predicated on blockchain and artificial cleverness (AI) technologies.
• Integration with professional protocols of IIoT for ma complexes, logistics depots, payment terminals.
• P2P repayments and smart-contracts support.
• The great quickness of transactions and an opportunity to process a lot more than 100,000 transactions per second.
• Low commissions - now extra than $0,001 for transaction.
• Fuel trading convenient device for tiny and medium-sized businesses.