10/04/2019 - Globaltechexport Ltd., together with the international developer and integrator of its own blockchain solutions Credits Blockchain Platform, launches a pilot project for the management, transfer, and storage of data from sensors of production equipment based on the public blockchain network.
Globaltechexport Ltd. has been successfully using digital media for a long time in the process of designing and supplying technological equipment, as well as in the construction of the oil and gas industry, heat, and electric power facilities. The information transmitted from sensors installed on production equipment is extremely important when integrating into production cycles of enterprises, and taking into account the effectiveness of deliveries. The solution, prepared in conjunction with Credits, will improve the control and automation of the supply chain of industrial equipment at all stages of the production process, which will largely ensure its maximum transparency, and contribute to cost reduction.
Thanks to the cryptographic protection of the database, the blockchain platform will serve as a reliable source for storing information received from sensors of industrial equipment supplied and serviced by Globaltechexport Ltd. Using this approach, the data obtained from the sensors is stored cyclically for a specified period of time, while eliminating any possible factors of falsification of the database. Thus, data on technical parameters, shipments, deliveries, and transactions will not be possible to delete or change, which will achieve the highest level of security and transparency; and additionally enhance confidence in interaction between company partners.
Due to the implementation of this pilot project, Globaltechexport Ltd. will optimize the tracking system of a large data array, and the use of blockchain technology in the company's work processes will open up new prospects for growth both in the Russian, and international markets.
Credits is a basic software that allows its users to use blockchain technology in business and IT solutions by using autonomous smart contracts to create and store transactions, and operations databases. All information has full cryptographic protection, and thanks to the innovative protocol for a decentralized network with collective validation; the system implemented in the pilot project will be able to process up to a million transactions per second.