IOV Labs (the company powering RSK) has just announced the release of Gasnet, a permissioned blockchain network launched in collaboration with the Argentinian software company Grupo Sabra, according to a press release shared with iHodl.
The aim of this new solution is to connect Argentinian natural gas distributors, their service providers and Enargas – Argentina’s natural gas regulatory body.
The network, which has been developed on the enterprise version of the Bitcoin-powered leading smart contract platform RSK, plans to connect the country’s 9 gas distribution companies.
The first company to join the network will be Gasnor, which offers its services to more than 2 million residents in the north of the country.
This new network will increase the efficiency in the gas industry. Among other things, it will allow:
- Over 10,000 service providers to register, verify and implement digital identities.
- Transact as soon as certificates are registered upon new installations or reconnections.
- New gas service providers can now complete registration process remotely within few days instead of weeks.
- Regulator to improve compliance oversight by embedding regulations into processes of the network.
It must be noted the project started back in 2019, when RSK and Grupo Sabra started to work together on the development of a permissioned blockchain for Argentinian gas distribution giant Gasnor. However, Enargas, the country’s gas regulator has approved the expansion of the project into a national ecosystem.