Credits Blockchain Being Integrated Into IVHIMPROM - Russia's Leading And Oldest Chemical Producer

The Credits team is delighted to announce that it has entered into an agreement with IVHIMPROM, Russia’s oldest chemical producer.

The agreement signed between Credits and IVHIMPROM relates to the launch of a pilot project on the implementation of blockchain technologies into the chemical manufacturer’s supply management and sales systems. The solutions developed by the Credits platform will allow IVHIMPROM to track supplies, shipments and deliveries to facilitate the production process. Automation of the process is also foreseen to avoid risk of human error and to exclude the possibility of tampering with database records by third parties.

IVHIMPROM management is confident that the choice of Credits business solutions will positively affect the company’s business performance and increase its brand standing as a reliable and transparent partner before suppliers and contractors.

The Credits platform team is confident that its agreement with IVHIMPROM will pave the way for future integration of blockchain solutions into other business areas. Two more Russian chemical and petroleum industry leaders are preparing to announce agreements with Credits in the near future.

JSC IVHIMPROM is the oldest chemical production plant in the Russian Federation and has been operating since 1838 from the city of Ivanovo outside Moscow. The range of products IVHIMPROM offers includes motor oil additives and other chemical components for a variety of industries all over the world.