EnHelix Oil and Gas Blockchain

oil and gas blockchain smart contracts

EnHelix Delivers Smart Settlement Blockchain System for Oil & Gas, Energy and Renewable Companies

EnHelix introduces blockchain-based settlement invoicing system for oil and gas, energy and renewable companies in 2021.

EnHelix software has delivered its first commodity blockchain trading system in early 2020 and since has attracted over 100 participants on its platform. The tokenization of commodities has completed transform the tedious paper-based contract and trade eco-system into immutable and efficient blockchain transactions. The trading system is integrated with major ETRM/CTRM system for quick and seamless confirmation and invoicing processing.

The new blockchain settlement system helps companies to process thousands of invoices with their counterparties in a secured blockchain exchange platform where all invoices are immutable to prevent frauds like spooling. In addition, the new system strengthen companies' internal controls with verifiable hash keys and unique transaction ids.

The feedback from early beta users have given positive feedback on the speed and integrity of settlement processes especially those with high volume and complex invoice details with complex pricing, locations, fees and taxes.