The pilot will be powered by smart contract platform Rootstock and RIF technology solutions.
Today RootstockLabs announced the successful launch of Gasnet, a blockchain network focused on Argentina’s natural gas distribution ecosystem. The network uses RootstockLabs-powered Rootstock blockchain 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, RootstockLabs 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 Rootstock 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 Rootstock and RIF and developed by Grupo Sabra is a key milestone for our organization that will enable us to streamline our processes, reduce costs, improve time to market, and most importantly provide a much better user experience”
RootstockLabs former 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 Rootstock 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 Rootstock 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.”
About RootstockLabs
RootstockLabs is a key contributor to Rootstock, the first, biggest, and longest-lasting Bitcoin layer 2.
RootstockLabs specializes in pioneering innovative solutions within the blockchain space, empowering developers with funding, technology, and marketing support to expand the frontiers of decentralized technology and make Bitcoin work for everyone.
Rootstock is the first, biggest, and longest-lasting Bitcoin sidechain. It is the only Bitcoin layer 2 that combines the security of Bitcoin’s proof-of-work, with Ethereum’s smart contract capabilities.
Rootstock is open-source, EVM-compatible, and secured by over 60% of Bitcoin’s hashing power, which makes it a gateway to a vibrant ecosystem of dApps that continues to evolve to become fully trustless.
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About Gasnor
Gasnor S.A. is one of the nine natural gas distribution companies in the Argentine Republic, which emerged with the privatization of the State Gas Company.
It has been serving the Argentine Northwest and its licensed area includes the provinces of Tucumán, Salta, Jujuy and Santiago del Estero since December 28, 1992. Its shareholders are Gascart S.A., CGE Argentina, GN Holding Argentina (Grupo Naturgy).
Gasnor distributes Natural Gas to more than 550,000 residential, commercial, industrial and electricity generating customers serving approximately 2,000,000 people.
About Grupo Sabra
Grupo Sabra is a software application development company based in Argentina, focused on the integration of traditional technology with Distributed Ledger Technologies and Smart Contracts.
Grupo Sabra has an expert team of in-house software development and blockchain developers that have been building solutions for our growing customer base. The team has built and implemented solutions on Dynamics 365, mobile apps and web application since 2009 and in the last 4 years integrating those capabilities with Blockchain solutions being used by real customers.