Emirates National Oil Company to adopt Blockchain
Source: Block Gemini Technologies , Author: Posted by BI-ME staff
Posted: Thu November 30, 2017 1:40 pm

UAE.  TRISTAR Transport provides key 3PL (Third Party Logistics) services to EPPCO Lubricants (an ENOC Marketing company) for more than 15 years. Our existing 3PL vendor TRISTAR has secured access for ENOC ERP system.

ENOC vision is to enhance operational excellence, quality, value added services with near real-time visibility to all stakeholders (TRISTAR, ENOC/EPPCO Lubricants and its Customers) by the use latest technology framework (such as mobility, paperless deliveries, web-portal, blockchain).

To be aligned with Dubai Blockchain Strategy a POC (Proof of Concept) is initiated by TRISTAR utilizing Blockchain to achieve the same.” said Burhan Al Hashemi, Managing Director - ENOC Marketing.
 
“Blockchain technology will give both parties the ability to provide irrevocable verification and oversight to complex processes and movements of products to the customers. Records stored in the Blockchain are computationally almost impossible to alter, leading to unprecedented verification and transparency to all stakeholders involved in a particular transaction" said Eugene Mayne, Tristar's Group CEO.

This implementation and system integration will increased transparency of interactions between TRISTAR and ENOC/EPPCO Lubricants, and will further cement the close working relationship between both organisations. The platform will be able to provide instant visibility to ENOC/EPPCO Lubricants for all inbound/outbound warehousing activities, as well as the ability to live track the deliveries to several thousand customer sites.

Tristar’s Blockchain POC provides complete end-to-end real-time visibility to ENOC/EPPCO Lubricants so that all warehousing and transportation processes between both parties will be captured in the Blockchain – a secure irrefutable ledger of transactions, protected by military grade encryption, initially used for cryptocurrencies, but now being applied to supply chains and other complex interactions between multiple parties.

"Blockchain technology gives us the ability to provide irrevocable verification and oversight to complex processes and movements of products to our customers. Records stored in the Blockchain are computationally almost impossible to alter, leading to unprecedented verification and transparency to all stakeholders involved in a particular transaction" said Eugene Mayne, Tristar's Group CEO.

With this implementation, it is envisaged that the increased transparency of interactions between Tristar and ENOC/EPPCO Lubricants will further cement the close working relationship between both organisations.

Underpinned by IBM’s Hyperledger technology and running on Amazon’s AWS cloud platform, the platform will be able to provide instant visibility to ENOC/EPPCO Lubricants for all inbound/outbound warehousing activities, as well as the ability to live track the deliveries to several thousand customer sites.

The Blockchain implementation was developed by Dubai based Block Gemini Technologies, led by Founder & CEO Christopher Fernandez. Block Gemini’s team boasts an exciting combination of Ethereum Developers, Hyperledger Managers, Crypto Researchers, Programmers, Developers, Analysts and Designers.

For more information, please visit  www.blockgemini.com.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: October 19, 2018
UAE. Artificial Intelligence basically makes it possible for machines to learn from neuro experiences, adjust outputs and perform human-like tasks, it could be thought of as the simulation of human intelligence.
date:Posted: October 18, 2018
UAE. A study on the cost of residential real estate versus the GDP per capita in key city hubs globally reveals that Dubai offers one of the most attractive value propositions for investors.
date:Posted: October 17, 2018
UAE. GITEX - Day 3 highlights: AI is the next big opportunity for cities; Cognitive solutions that leverage AI algorithms to make decisions like a human brain; Saudi Accelerator Day gets underway at GITEX Future Stars; A stark warning to customer-focused industries in the tech age: evolve or die.
dhgate