HOUSTON--(BUSINESS WIRE)--Energy industry consortium, Blockchain for Energy (B4E), has now launched its own network & platform. Using this platform, member companies can build, test, and access smart contract solutions all in one place. This launch marks B4E’s monumental next step in advancing to Web3 – a decentralized internet focusing on blockchain technologies, built for the industry, by the industry.
Revolutionary platform offers secure and collaborative opportunity for digital change
The B4E Network & Platform allows companies to build Web3 solutions on top of B4E’s decentralized and interoperable platform. In addition to the Network & Platform mainnet, B4E also provides companies with a private sandbox where members can run code and test use cases with their own data. This now enables energy industry companies to digitally interact with counterparties in a safe, transparent, trust induced venue.
“The B4E Network & Platform allows smart contract blockchain solutions to have a production infrastructure that is safe, secure, compliant, and future proofed for Web3.” said Rebecca Hofmann, CEO and President of Blockchain for Energy. “The Web3 space is moving fast. And this provides unparalleled flexibility and choice among enterprise-proven capabilities. The B4E Network & Platform provides the ability to access the latest Web3 technology options as the space continues to evolve.”
Embracing new solutions, evolving to meet industry needs
The development and launch of the B4E Network & Platform comes shortly after B4E’s latest smart contracts solutions release. In October, B4E and its members released standard industry grade smart contract templates to ease adoption and scaling for members and the industry at large.
“The next logical step in our quest to lead industry change was to create a platform for others to build and test smart contracts,” said Raquel Clement, Chairperson of the Board and Product Line Manager at Chevron. “The B4E Platform & Network allows companies the opportunity to access templates, proven solutions, and develop programs to meet their needs. We are excited to push boundaries and deploy innovative, value-added solutions to modernize the way we do business.”
Access to proven solutions with opportunity to build and innovate
To drive progress, B4E is helping reinvent the energy industry’s workflow processes by providing a secure space for an enterprising community to collaborate. By using this new platform, members can access proven solutions and build applications that leverage Web3 constructs. This includes smart contracts, digital assets, NFTs, and tokenization.
A Chemical Delivery solution from the B4E Commodity Transport Program, a collaborative effort led by Pioneer Natural Resources, is the first production-grade solution released on the new platform. This solution utilizing IIOT and Blockchain technology will be offered to B4E members first and will be available to other energy companies later this year.
Powered by Web3 technology
The B4E Network & Platform is powered by Web3 infrastructure provider Kaleido. It leverages Hyperledger FireFly, the industry's first open source Supernode. FireFly’s next-generation platform simplifies development and provides the flexibility to connect across multiple public and private chains while running many use cases simultaneously.
About Blockchain for Energy
Utilizing the benefits of blockchain technology, the Blockchain for Energy (B4E) consortium provides its members with forward thinking learnings and solutions for the energy industry. It collaboratively drives digital transformation toward Web3 by providing members with opportunities to accelerate their digitalization journey. B4E seeks to resolve, reinvent, and transform the industry’s ways of working through collective synergies. Blockchain for Energy is a safe venue to create transformational change – for the energy industry – by the energy industry. Current B4E members include API, Chesapeake Energy, Chevron, ConocoPhillips, Devon Energy, ExxonMobil, Katalyst Data Management, Pioneer Natural Resources, Repsol and Schlumberger.