Name
Neoflow
Description
Neoflow, in partnership with the US Department of Homeland Security (DHS) & Cross Border Patrol (CBP) over the previous two years, has created a blockchain-based platform that provides digital traceability for crude oil and natural gas thereby creating a Commodity Digital Passport. This enables a secure and immutable, well-head to burner tip, digital credential for an energy asset. The Neoflow Platform Digital Passport enables multiple new digital use cases within the energy industry: automated border clearance and proof of origin, automated regulatory compliance, and digital proof of embedded Greenhouse Gases (end-to-end record of specific amounts of CO2, CH4 and N2O released into an atmosphere) among many others. The benefits for the Oil and Gas industry range from import tariff reduction and reduction in operational costs to price premiums for responsibly-produced commodities.