VeChain (VET) and Shanghai Gas Group Complete LNG Blockchain Project
According to March 30, 2020, report by Chinese media outlet Shine, the Shanghai Gas Group – with aid from VeChain (VET) – has successfully completed the first phase of a liquefied natural gas (LNG) blockchain project that aims to foster data sharing and intelligent cooperating in the energy industry. In a major step toward pushing data sharing and intelligent cooperation in the energy industry, the Shanghai Gas Group and Singapore-based supply chain distributed ledger technology (DLT) project VeChain recently stated that they had completed the first phase of a liquefied natural gas blockchain initiative.
The report adds that the LNG store tank of No. 5 ditch in Shanghai operated by the Shanghai Gas Group is now able to upload and search key data through blockchain. Singaporean DLT supply chain project VeChain has been steadily making its presence felt in the fragmented global supply chain industry.
