IOV Labs announced the successful launch of Gasnet, a blockchain network focused on Argentina’s natural gas distribution ecosystem. The network uses IOV Labs-powered RSK smart contracts and its RIF second-layer solutions to increase efficiency, transparency, and information management in the industry. The Gasnet network was launched in collaboration with Grupo Sabra, an Argentina-based software development company.
In 2019, RSK and Grupo Sabra began developing a permissioned blockchain for Argentinian gas distribution giant Gasnor, which services 2 million people in the country. Since then, Argentina’s national gas regulatory body Enargas has greenlit the expansion of the project into a national ecosystem blockchain to include all nine distribution companies. Both the Argentinian regulator and Gasnor are running a node on the Gasnet network.
The Gasnet network, mounted on the RSK Enterprise version, allows the registration of all transactions that are processed in the certification of a new installation or reconnection of gas service between the future or current customer, the registered gasist, and the gas distributor.
Over 10,000 service providers will register, verify and implement digital identities on Gasnor’s permissioned blockchain using RIF Name Services – an architecture which enables the identification of blockchain resources by human-readable names.
Additionally, new gas service providers can now complete the entire registration process remotely through RIF Name Services within a few days, thereby increasing efficiency.
This implementation will allow Gasnet affiliates such as Gasnor to achieve greater traceability and security to the complete process of new facilities certifications, to measure the quality of the service providers and to identify problems and solve them as fast as possible. Historically, the process of setting-up a new gas installation took a lot of paperwork and precious time was lost in the process.
In addition, Gasnet will allow Enargas to improve compliance oversight by embedding approved industry regulations into processes within the network. Compliance information can be stored on the network in a safe, immutable and transparent manner for all the actors along the distribution chain. Other Gasnet members are already working to integrate the solution.
Commenting on the launch of Gasnet, Gasnor CIO Carlos Amín said, “The implementation of the blockchain solution built on top of RSK and RIF and developed by Grupo Sabra is a key milestone for our organization that will enable to streamline our processes, reduce costs, improve time to market and most importantly provide a much better user experience.”
IOV Labs CEO, Diego Gutierrez Zaldivar added: “We are very excited to assist Gasnor in bringing more transparency and traceability to the gas industry through blockchain technology powered by RSK and RIF platforms, and by doing so to enable a more cost effective and service experience to its customers.”
Guillermo Villanueva, Grupo Sabra´s CEO concluded: “We are honored that Gasnor chose RSK’s blockchain solutions and Group Sabra’s development tools to launch this groundbreaking initiative. We have no doubt the Gasnet network will lead the Argentinian national gas industry to a more efficient, transparent and compliant future.”