energy block services
Provides blockchain-enabled smart contracts to the world’s largest oil and gas companies to manage their supply chain relationships.
Oil and gas companies use multiple services to complete a well. Each of these services bills by the hour and affects one another when they are inefficient, creating a difficult hourly contract management process for the operators. This manual process is inefficient, costing oil and gas companies tens of thousands per well.
We have a partnership to transact data for a leading Energy IIoT company and the world’s first live remote completions operating system. We can also transact any live data gathered as more of these companies emerge.
We accelerate contract negotiation processes with instant and on-the-fly data-driven contract amendments.
Each contract and data set is logged and stored in a private blockchain, making data accessible, immutable, and incorruptible.
EBS partners with the world’s leading oil and gas companies to provide a remote completions operating software system. EBS will work with data generated live at the field level to automatically amend service contracts between the oil and company and its supply chain in real time, with no human intervention needed.
At the core of every relationship we have, whether it’s with data providers or clients, is a layer of trust, security, and quality.
Blockchain records and data are stored on a decentralized network, with each entry being immutable and incorruptible
Our expertise in the industry means we know which data and which data sets matter most for companies to get the most out of their service providers
Traditional networks and databases carry a single point of failure; the decentralized nature of the blockchain means data sets are secured by millions of nodes
Current analog contract negotiation
All negotiating done weeks/months post-mortem
Lack of supporting evidence to recoup costs
Tens of thousands lost on every job because of inaccurate data
Payment weeks or months after work is complete
Blockchain amended service contracts
No negotiating/Data-driven amendments to contracts
Full contextual ledger to support cost overruns
Tens of thousands recouped per job
Payment can happen immediately or at the discretion of the operator. Better services get paid faster.
Service companies benefit as well
Immediate contract settlement
Contract performance bonuses tracked with total accuracy
Better service companies can use data to prove it
Better service companies can ask to be paid sooner
Both companies eliminate back-end infrastructure and lower cost of account management
of Smart Contracts
Energy Block Services provides private and
CEO & FOUNDER
VP Project Engineer
Chief Blockchain Engineer