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18.02.2020

Credits and JSC IVHIMPROM Successfully Launched a Pilot Project

Credits is delighted to announce that it has successfully launched a pilot project with JSC IVHIMPROM on February 18.

The pilot project is aimed at automating the supply chain and other operational systems of the JSC IVHIMPROM production plant. As part of the pilot project, a joint working group formed from the representatives of JSC IVHIMPROM and the specialists of the Credits project worked out a comprehensive plan for automating the supply chain and management systems of the chemical giant. The private blockchain software provided by the Credits project will be employed for tracking raw material supply shipments and finished product deliveries.

As part of the project’s pre-launch phase, the working group conducted an in-depth analysis of JSC IVHIMPROM’s business goals and enterprise management systems on the basis of key factors and performance indicators. The reduction of operating expenses and the achievement of high transparency in cooperation with counterparties were established as the main goals of the pilot project.

The immutability provided by blockchain technology-based storage systems will allow JSC IVHIMPROM to have clear and transparent data on all operations and deliveries. In addition, the new supply chain management system will nullify the possibilities of fraud or data falsification by third parties.

JSC IVHIMPROM is confident that the use of blockchain technologies will act as a significant boost to the company’s growth by ensuring high-quality raw material deliveries and transparency in its interaction with contractors.

The Credits Blockchain Project is certain that the launch of the pilot project with JSC IVHIMPROM is irrefutable proof of the business value of the company’s software. The development team believes that the use of Credits blockchain systems in real-world scenarios, such as the one of JSC IVHIMPROM, will attract attention to the company’s products from a host of potential partners. Stay tuned for more news and updates from Credits.

About CREDITS.COM

Credits is an international company that was founded in 2017 and is located in the USA, Singapore and Russia. Credits offers public and private solutions to its clients in any field of business needs. The peculiarity of Credits is a high-speed decentralized public blockchain platform. The platform is intended to develop standalone smart contracts and decentralized applications.

About JSC IVHIMPROM

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
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