Energy Firm Repsol Sees Blockchain as Transformative Technology16

Repsol is the latest Spanish company to test blockchain as a way to cut down on waste and improve operational efficiency. The company reported that a recent test of a blockchain pilot which was designed to improve the quality of safety certification of its products was successful, and could lead to a cost savings of 400,000 Euros a year.

Repsol Technology Lab Research Center teamed up with Finboot; a part of the Repsol Foundation Entrepreneurs Fund, to jointly develop a blockchain platform which improves the certification process for petrochemical products. The savings will be generated by reducing frequency errors, according to a report published by Cointelegraph in Spanish.

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