Case Study | Gas Trading Co.
Natural Gas Trading with Blockchain Technology
Streamlining Processes from Confirmation to Settlement
Overview
This energy joint venture company, in collaboration with Digital Asset and Umbrage Studios, embarked on an innovative journey to transform the natural gas market in North America.
Representing a consortium of six leading trading companies, this group accounts for half of the natural gas transactions across
the continent.
Traditionally hampered by manual and error-prone processes, the industry's approach to trading natural gas has called for a modern solution that enhances efficiency and accuracy.
This new platform leverages cutting-edge blockchain technology to refine the trading validation lifecycle—from deal confirmation to final settlements.
Our Approach
Innovative Approach
to Settlements Process
Client Need
Top natural gas companies needed a tool to reconcile trade deals efficiently, reducing internal and intercompany hours spent validating trade information and processing settlements on a single platform.
Product Definition
Shaping Field Autonomy
We initially focused on key challenges within the natural gas trading lifecycle, conducting in-depth sessions on deal processes to tailor solutions directly.
Product Development
Building Practical Impact
Within 11 months, we moved from ideation to a market-ready application, incorporating iterative design and continuous feedback to exceed market standards.
Industrialization
Scaling with Strength
Post-MVP development, we emphasized the solution’s sustainability and scalability, assisting the joint venture company in building and training an internal team for continuous product development and industrialization.
The Results
Unlocking Capital & Expediting Deal Closures
The Result
The collaboration resulted in a unified, full-lifecycle blockchain platform that significantly reduces transaction reconciliation and settlement times, thereby unlocking capital and expediting deal closures.
This innovative solution has not only replaced antiquated systems but has also set a new standard in commodities trading through technological excellence.
Features Overview
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Enhanced Security: Secure transaction management and data encryption for all parties involved leveraging distributed ledger technology
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Integrated Processes: A single platform unifying various trading processes to ensure reliability and real-time data reconciliation.
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Advanced Analytics: Featuring automated deal pairing and exception management, dynamic filters and user customizations, complemented by visual dashboards displaying vital key performance Indicators for quick and informed decision-making.