Argentinian natural gas regulators have approved an expansion of the blockchain-based Gasnet network to cover the entire nation. The system has previously been used by Gasnor, a local distributor which used Gasnet to track gas distribution to roughly 2 million people in Argentina.
Gasnet relies on IOV Labs’ RSK smart contract solutions to provide increased transparency, efficiency, and data management. In a press release announcing that Energas has granted regulatory approval for expanded use of the network, IOV noted that the system will now be available for all nine of Argentina’s gas distribution firms.
Energas regulators have reportedly concluded that Gasnet can provide them with improved oversight capabilities, due to the way industry regulations are embedded within the network’s processes. The blockchain system provides immutable compliance records at every step of the distribution chain.
Gasnor CIO Carlos Amin described how the network has benefited his firm:
“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.”