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Credits and Smart Refinery Technologies Group partner to apply blockchain in oil refining industry.

Blockchain technologies applied in oil refining industry will allow to reduce expenses of production and logistics. Credits and Smart Refining Technologies team up to create world’s first decentralised system with a high production efficiency and to contribute to fuel business revolution.

 

Smart Refinery Technologies Group (SRT) is the first company in the world to implement blockchain-based royalty management business processes in an actual sector of the economy.

 

This partnership will allow Smart Refinery Technologies Group, a developer of innovative technical solutions and equipment for the production of automotive fuels, to create the world's first blockchain platform for the oil refining industry and will open a plethora of new  opportunities such as:

 

  • Full-stack IoT implementation that will help to create a decentralised network of small oil refineries with high speed of organisation and commissioning of Smart Refinery facilities.

  • Usage of Credits platform will increase the speed of payments between counterparties, with an infrastructure based on a distributed network with a public registry.

  • Credits-based Issuance of a SRT international fuel cards with the possibility of receiving discounts on fuel of up to 20% and pay for refueling both using fiat money and cryptocurrency.

 

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