When the gas goes out in your apartment, chances are someone will pay – the various members of the supply chain that move the gas from the earth to your home can face serious penalties if you’re unable to stay warm or cook your food.
Yet, until now, identifying just who was at fault in serving them the appropriate penalty has been a long and tedious manual process that can take weeks to complete. But with today’s announcement that blockchain startup Nuco has launched into beta with a partnership with TMX Group in Canada, that time stands to be reduced to just a matter of seconds.
Revealed onstage at CoinDesk’s Consensus 2017 Conference in New York, the solution is designed to programmatically execute smart contracts between every level of the gas supply chain so breaches can be pinpointed as soon as a block settles.
TMX Group vice president and head of innovation and enterprise delivery, John Lee, described to CoinDesk how Nuco helped his firm translate the terms of various service level agreements (SLAs) that hold providers accountable for lapses into self-executing smart contracts designed to sense when something goes wrong.
“They were able to actually take the transaction activity with the commitments and
Read more ... source: CoinDesk
Advertise on the Bitcoin News
Let's block ads! (Why?)
Powered by Bitcoin Central