Blockchain for Energy

Commodity transport: Blockchain for Energy (b4e), in collaboration with their member companies (together known as the consortium), developed a technological breakthrough to provide its members and the oil and gas industry with hyper-automation opportunities for transactions related to the supply chain. The program combines the use of iot sensors, Blockchain technology, and robust low-code business rules to create a real-time single source of truth between vendors and operators. This program has reached production status with the launch of the b4e logistics application.

Shared structure: this program is foundational to all the solutions developed by the consortium, as it has established the b4e network & platform (n&p). This decentralized network and platform, specifically created and governed by Energy industry companies, is at the core of the organization's mission. The platform hosts the consortium's permissioned Blockchain network built on the open source hyperledger firefly, connecting the applications and users. Additionally, the platform establishes reusable code modules and low-code protocols. See schedule o for further information.

Environmental, social, and corporate governance (esg): this program provides esg support with the launch of the Energy industry's first comprehensive emissions management system b4e carbon, which is the new standard for measurement, reporting and verification of carbon emissions and removals. Built on the consortium's b4e network & platform, it streamlines emissions management with its proprietary digital measurement, reporting, and verification (dmrv) technology, which facilitates tokenizing emissions-related data using the convergence of Blockchain technology, artificial intelligence, and iot systems. It provides unparalleled emissions data accuracy, reliability, and security. Further work could enable transparency into scope 3 (emissions from the supply chain).

Digital identity: b4e is working to provide a decentralized identity solution powered by Blockchain technology. This digital wallet is specifically designed for integration with other b4e applications. Unlike federated identifiers, decentralized identifiers (dids) are independent of centralized registries, identity providers, or certificate authorities. for this reason, dids are fundamental to any web3 application in terms of security, user experience, and interoperability. Seismic entitlements: the management of ownership and entitlements of seismic data between joint venture partners is predominantly done manually. B4e is developing automated tracking of these digital rights to seismic data, to be used throughout the lifecycle of the data. Automation will provide an accessible digital library of seismic data and ownership, accelerating access while administering rights management and updates for mergers and acquisitions activity. Our comprehensive approach includes working with standard authorities to define data models and industry standards around seismic data sharing (entitlement rights). Ijvm-afe balloting & jib exchange integrated joint venture management (ijvm): b4e is building new processes that manage joint ownership digitally in the finance and land administration responsibilities of the Energy sector. B4e continues to explore two projects: authorization for expenditure (afe) balloting and joint interest billing (jib). Supply chain smart contracts: b4e continues to advance a solution for digitally executing contract terms to address the limitations of paper contracts. The project involves digitizing terms from paper contracts, automating and executing certain conditions into a digital smart contract. This enables transparency and upfront agreement with a single source of truth between contracting parties.