Blockchain in Oil & Gas â the NGX Platform
Blockchain in Oil & Gas – the NGX Platform
Kesem Frank, Co-Founder, COO
Chakore Goodie, Head of US Operations
NGX
About NGX and Nuco
NGX
NGX provides electronic trading, central counterparty clearing and data services to the North American natural gas and electricity markets.
Nuco is a digital infrastructure provider specializing in the deployment of enterprise blockchain architecture.
The Nomination Process Today
The Nomination Process Today
Contract Quantit y Locatio n Time Parties
The Nomination Process Today Contract Quanti ty Locati on Time Partie s
NGX
The Nomination Process Today Contract Quanti ty Locati on Time Partie s
Supply (Seller)
NGX
Market (Buyer)
The Nomination Process Today Contract Quanti ty Locati on Time Partie s
Supply (Seller)
Quanti ty Locati
Quanti ty Locati
on Time
on Time
Partie s
Partie s
NGX
Market (Buyer)
The Nomination Process Today Contract Quanti ty Locati on Time Partie s
Supply (Seller)
Quanti ty Locati
Quanti ty Locati
on Time
on Time
Partie s
Partie s
NGX
Market (Buyer)
The Nomination Process Today Contract
NGX Supply
1st Market
The Nomination Process Today Contract
NGX Supply
1st Market
2nd Market
1st Market
The Nomination Process Today Contract
NGX Supply
1st Market
2nd Market
3rd Market
1st Market
The Nomination Process Today Contract
NGX Supply
1st Market
2nd Market
3rd Market
4th Market
1st Market
The Nomination Process Today Contract
NGX Supply
1st Market
2nd Market
3rd Market
4th Market
1st Market
5th Market
The Nomination Process Today Contract
NGX Supply
1st Market
2nd Market
3rd Market
4th Market
1st Market
5th Market
6th Market
The Nomination Process Today Contract
NGX Supply
1st Market
2nd Market
3rd Market
4th Market
1st Market
5th Market
6th Market
7th Market
The Nomination Process Today Contract
NGX Supply
1st Market
2nd Market
3rd Market
4th Market
1st Market
5th Market
6th Market
7th Market
8th Market
The Nomination Process Today Contract
NGX Supply
1st Market
2nd Market
3rd Market
4th Market
1st Market
5th Market
6th Market
7th Market
8th Market ..nth Market
Current Day Pain-Points: The main pain-points in current process: Fragmented Value Chain Counterparty Ambiguity Mismatched Information Traceability Challenge
Fragmented Value Chain – An asset changes hand numerous times over its lifecycle Contract
Supply
1st Market
2nd Market
3rd Market
4th Market
Market
5th Market
6th Market
7th Market
8th Market ..nth Market
Counterparty Ambiguity – Sellers and buyers only know their immediate trading range Contract
Supply
1st Market
2nd Market
3rd Market
4th Market
Market
5th Market
6th Market
7th Market
8th Market ..nth Market
A Fragmented value chain causes lack of transparency amongst
Mismatched Information – long value chains increase the likelihood of miscommunications Contract
Supply
1st Market
2nd Market
3rd Market
4th Market
Market
5th Market
6th Market
7th Market
8th Market ..nth Market
Lack of transparency significantly increases the likelihood
Traceability Challenge – Difficulty to trace which stakeholder is responsible for a supply disruption
Knowledge gap about delivery status beyond immediate range Prolonged duration (60 – 90 days) to determine accountable party in case of a supply cut
Calga ry
Housto n
Traceability Challenge – Difficulty to trace which stakeholder is responsible for a supply disruption Knowledge gap about delivery status beyond immediate range
Prolonged duration (60 – 90 days) to determine accountable party in case of a supply cut
1st Market
2nd Market
3rd Market
4th Market
5th Market
6th Market
7th Market
8th Market ..nth Market
Traceability Challenge – Difficulty to trace which stakeholder is responsible for a supply disruption Knowledge gap about delivery status beyond immediate range
Prolonged duration (60 – 90 days) to determine accountable party in case of a supply cut
1st Market
2nd Market
3rd Market
4th Market
5th Market
6th Market
7th Market
8th Market ..nth Market
Traceability Challenge – Difficulty to trace which stakeholder is responsible for a supply disruption Knowledge gap about delivery status beyond immediate range
Prolonged duration (60 – 90 days) to determine accountable party in case of a supply cut
1st Market
2nd Market
3rd Market
4th Market
5th Market
6th Market
7th Market
8th Market ..nth Market
Traceability Challenge – Difficulty to trace which stakeholder is responsible for a supply disruption Knowledge gap about delivery status beyond immediate range
Prolonged duration (60 – 90 days) to determine accountable party in case of a supply cut
1st Market
2nd Market
3rd Market
4th Market
5th Market
6th Market
7th Market
8th Market ..nth Market
Traceability Challenge – Difficulty to trace which stakeholder is responsible for a supply disruption Knowledge gap about delivery status beyond immediate range
Prolonged duration (60 – 90 days) to determine accountable party in case of a supply cut
1st Market
2nd Market
3rd Market
4th Market
5th Market
6th Market
7th Market
8th Market ..nth Market
Blockchain Solution
Real Time Tracking of Assets
Block #
170553
Proposed by (T7) Calgary 10 Transactions in 8.47s
4s
Calga ry
Housto n
Real Time Tracking of Assets 170553
Block 4s # Proposed by (T7) Calgary 10 Transactions in 8.47s
Block #
170554
Proposed by (T9) Bemidji 5 Transactions in 8.49s
5s
Calga ry
Housto n
Real Time Tracking of Assets 170553
Block 4s # Proposed by (T7) Calgary 10 Transactions in 8.47s
170554
Block 5s # Proposed by (T9) Bemidji 5 Transactions in 8.49s
Block #
170555
Proposed by (T3) Tranverse City 3 Transactions in 8.55s
6s
Calga ry
Housto n
Real Time Tracking of Assets 170553
Block 4s # Proposed by (T7) Calgary 10 Transactions in 8.47s
170554
Block 5s # Proposed by (T9) Bemidji 5 Transactions in 8.49s
170555
Block # Proposed by (T3) Tranverse City 3 Transactions in 8.55s
6s
Block #
170556
Proposed by (T5) Rapid City 7 Transactions in 8.08s
7s
Calga ry
Housto n
Real Time Tracking of Assets 170553
Block 4s # Proposed by (T7) Calgary 10 Transactions in 8.47s
170554
Block 5s # Proposed by (T9) Bemidji 5 Transactions in 8.49s
170555
Block # Proposed by (T3) Tranverse City 3 Transactions in 8.55s
170556
Block # Proposed by (T5) Rapid City 7 Transactions in 8.08s
6s
Block #
170557
Proposed by (T21) Winnemucca 10 Transactions in 8.47s
8s
Calga ry
7s
Housto n
Real Time Tracking of Assets 170553
Block 4s # Proposed by (T7) Calgary 10 Transactions in 8.47s
170554
Block 5s # Proposed by (T9) Bemidji 5 Transactions in 8.49s
170555
Block # Proposed by (T3) Tranverse City 3 Transactions in 8.55s
170556
Block # Proposed by (T5) Rapid City 7 Transactions in 8.08s
6s
Block #
170558
Proposed by (T11) Houston 10 Transactions in 8.47s
9s
Calga ry
7s
170557
Block 8s # Proposed by (T21) Winnemucca 10 Transactions in 8.47s
Housto n
Real Time Tracking of Assets Block #
170553
Real Time Throughput Tracking
4s
Block #
170554
5s
Proposed by (T9) Bemidji 5 Transactions in 8.49s
Block #
170555
6s
Throughput
Proposed by (T7) Calgary 10 Transactions in 8.47s
1s
2s
3s
4s
5s
6s
7s
8s
Proposed by (T3) Tranverse City 3 Transactions in 8.55s
Block #
170556
Proposed by (T5) Rapid City 7 Transactions in 8.08s
7s
Each transfer of asset will be written onto the blockchain with relevant parties’ verification; generating a live audit trail reflecting the realtime state of any asset
Real Time Automated Audit Trail
Real Time Automated Audit Trail
Real Time Automated Audit Trail
Real Time Automated Audit Trail
Real Time Automated Audit Trail
Real Time Automated Audit Trail
Significantly Reduces Auditing Time
60 – 90 days
2 minutes
Ability to Prevent Upstream Trading (DaiseyChaining) of Assets
A
Detects if an asset belonged to previous stakeholder in the chain, prevents redundant trading.
C
B
D
Additional Benefits of Blockchain Digitally Signed Identities
Public Key
Inherent Data Redundancy
Immutable Records
Asset Tokenization
Private Key
Automated Audit Trails Block 10
Block 11
Referenc e
Block 12
Referenc e
Referenc e
Enforced Consensus
DEMO
Future/Next Steps
API
API Integration
Legacy System Transformati on
Additional Asset Classes
Additional components enabling systems to be smarter and more autonomous
API
Additional components enabling systems to be smarter and more autonomous
API
Thank You! Please Don’t Hesitate to Reach Out
Kesem Frank, Co-Founder, COO
Chakore Goodie, Head of US Operations
[email protected]
[email protected] m
NGX
Kesem Frank, Co-Founder, COO
Chakore Goodie, Head of US Operations
NGX
About NGX and Nuco
NGX
NGX provides electronic trading, central counterparty clearing and data services to the North American natural gas and electricity markets.
Nuco is a digital infrastructure provider specializing in the deployment of enterprise blockchain architecture.
The Nomination Process Today
The Nomination Process Today
Contract Quantit y Locatio n Time Parties
The Nomination Process Today Contract Quanti ty Locati on Time Partie s
NGX
The Nomination Process Today Contract Quanti ty Locati on Time Partie s
Supply (Seller)
NGX
Market (Buyer)
The Nomination Process Today Contract Quanti ty Locati on Time Partie s
Supply (Seller)
Quanti ty Locati
Quanti ty Locati
on Time
on Time
Partie s
Partie s
NGX
Market (Buyer)
The Nomination Process Today Contract Quanti ty Locati on Time Partie s
Supply (Seller)
Quanti ty Locati
Quanti ty Locati
on Time
on Time
Partie s
Partie s
NGX
Market (Buyer)
The Nomination Process Today Contract
NGX Supply
1st Market
The Nomination Process Today Contract
NGX Supply
1st Market
2nd Market
1st Market
The Nomination Process Today Contract
NGX Supply
1st Market
2nd Market
3rd Market
1st Market
The Nomination Process Today Contract
NGX Supply
1st Market
2nd Market
3rd Market
4th Market
1st Market
The Nomination Process Today Contract
NGX Supply
1st Market
2nd Market
3rd Market
4th Market
1st Market
5th Market
The Nomination Process Today Contract
NGX Supply
1st Market
2nd Market
3rd Market
4th Market
1st Market
5th Market
6th Market
The Nomination Process Today Contract
NGX Supply
1st Market
2nd Market
3rd Market
4th Market
1st Market
5th Market
6th Market
7th Market
The Nomination Process Today Contract
NGX Supply
1st Market
2nd Market
3rd Market
4th Market
1st Market
5th Market
6th Market
7th Market
8th Market
The Nomination Process Today Contract
NGX Supply
1st Market
2nd Market
3rd Market
4th Market
1st Market
5th Market
6th Market
7th Market
8th Market ..nth Market
Current Day Pain-Points: The main pain-points in current process: Fragmented Value Chain Counterparty Ambiguity Mismatched Information Traceability Challenge
Fragmented Value Chain – An asset changes hand numerous times over its lifecycle Contract
Supply
1st Market
2nd Market
3rd Market
4th Market
Market
5th Market
6th Market
7th Market
8th Market ..nth Market
Counterparty Ambiguity – Sellers and buyers only know their immediate trading range Contract
Supply
1st Market
2nd Market
3rd Market
4th Market
Market
5th Market
6th Market
7th Market
8th Market ..nth Market
A Fragmented value chain causes lack of transparency amongst
Mismatched Information – long value chains increase the likelihood of miscommunications Contract
Supply
1st Market
2nd Market
3rd Market
4th Market
Market
5th Market
6th Market
7th Market
8th Market ..nth Market
Lack of transparency significantly increases the likelihood
Traceability Challenge – Difficulty to trace which stakeholder is responsible for a supply disruption
Knowledge gap about delivery status beyond immediate range Prolonged duration (60 – 90 days) to determine accountable party in case of a supply cut
Calga ry
Housto n
Traceability Challenge – Difficulty to trace which stakeholder is responsible for a supply disruption Knowledge gap about delivery status beyond immediate range
Prolonged duration (60 – 90 days) to determine accountable party in case of a supply cut
1st Market
2nd Market
3rd Market
4th Market
5th Market
6th Market
7th Market
8th Market ..nth Market
Traceability Challenge – Difficulty to trace which stakeholder is responsible for a supply disruption Knowledge gap about delivery status beyond immediate range
Prolonged duration (60 – 90 days) to determine accountable party in case of a supply cut
1st Market
2nd Market
3rd Market
4th Market
5th Market
6th Market
7th Market
8th Market ..nth Market
Traceability Challenge – Difficulty to trace which stakeholder is responsible for a supply disruption Knowledge gap about delivery status beyond immediate range
Prolonged duration (60 – 90 days) to determine accountable party in case of a supply cut
1st Market
2nd Market
3rd Market
4th Market
5th Market
6th Market
7th Market
8th Market ..nth Market
Traceability Challenge – Difficulty to trace which stakeholder is responsible for a supply disruption Knowledge gap about delivery status beyond immediate range
Prolonged duration (60 – 90 days) to determine accountable party in case of a supply cut
1st Market
2nd Market
3rd Market
4th Market
5th Market
6th Market
7th Market
8th Market ..nth Market
Traceability Challenge – Difficulty to trace which stakeholder is responsible for a supply disruption Knowledge gap about delivery status beyond immediate range
Prolonged duration (60 – 90 days) to determine accountable party in case of a supply cut
1st Market
2nd Market
3rd Market
4th Market
5th Market
6th Market
7th Market
8th Market ..nth Market
Blockchain Solution
Real Time Tracking of Assets
Block #
170553
Proposed by (T7) Calgary 10 Transactions in 8.47s
4s
Calga ry
Housto n
Real Time Tracking of Assets 170553
Block 4s # Proposed by (T7) Calgary 10 Transactions in 8.47s
Block #
170554
Proposed by (T9) Bemidji 5 Transactions in 8.49s
5s
Calga ry
Housto n
Real Time Tracking of Assets 170553
Block 4s # Proposed by (T7) Calgary 10 Transactions in 8.47s
170554
Block 5s # Proposed by (T9) Bemidji 5 Transactions in 8.49s
Block #
170555
Proposed by (T3) Tranverse City 3 Transactions in 8.55s
6s
Calga ry
Housto n
Real Time Tracking of Assets 170553
Block 4s # Proposed by (T7) Calgary 10 Transactions in 8.47s
170554
Block 5s # Proposed by (T9) Bemidji 5 Transactions in 8.49s
170555
Block # Proposed by (T3) Tranverse City 3 Transactions in 8.55s
6s
Block #
170556
Proposed by (T5) Rapid City 7 Transactions in 8.08s
7s
Calga ry
Housto n
Real Time Tracking of Assets 170553
Block 4s # Proposed by (T7) Calgary 10 Transactions in 8.47s
170554
Block 5s # Proposed by (T9) Bemidji 5 Transactions in 8.49s
170555
Block # Proposed by (T3) Tranverse City 3 Transactions in 8.55s
170556
Block # Proposed by (T5) Rapid City 7 Transactions in 8.08s
6s
Block #
170557
Proposed by (T21) Winnemucca 10 Transactions in 8.47s
8s
Calga ry
7s
Housto n
Real Time Tracking of Assets 170553
Block 4s # Proposed by (T7) Calgary 10 Transactions in 8.47s
170554
Block 5s # Proposed by (T9) Bemidji 5 Transactions in 8.49s
170555
Block # Proposed by (T3) Tranverse City 3 Transactions in 8.55s
170556
Block # Proposed by (T5) Rapid City 7 Transactions in 8.08s
6s
Block #
170558
Proposed by (T11) Houston 10 Transactions in 8.47s
9s
Calga ry
7s
170557
Block 8s # Proposed by (T21) Winnemucca 10 Transactions in 8.47s
Housto n
Real Time Tracking of Assets Block #
170553
Real Time Throughput Tracking
4s
Block #
170554
5s
Proposed by (T9) Bemidji 5 Transactions in 8.49s
Block #
170555
6s
Throughput
Proposed by (T7) Calgary 10 Transactions in 8.47s
1s
2s
3s
4s
5s
6s
7s
8s
Proposed by (T3) Tranverse City 3 Transactions in 8.55s
Block #
170556
Proposed by (T5) Rapid City 7 Transactions in 8.08s
7s
Each transfer of asset will be written onto the blockchain with relevant parties’ verification; generating a live audit trail reflecting the realtime state of any asset
Real Time Automated Audit Trail
Real Time Automated Audit Trail
Real Time Automated Audit Trail
Real Time Automated Audit Trail
Real Time Automated Audit Trail
Real Time Automated Audit Trail
Significantly Reduces Auditing Time
60 – 90 days
2 minutes
Ability to Prevent Upstream Trading (DaiseyChaining) of Assets
A
Detects if an asset belonged to previous stakeholder in the chain, prevents redundant trading.
C
B
D
Additional Benefits of Blockchain Digitally Signed Identities
Public Key
Inherent Data Redundancy
Immutable Records
Asset Tokenization
Private Key
Automated Audit Trails Block 10
Block 11
Referenc e
Block 12
Referenc e
Referenc e
Enforced Consensus
DEMO
Future/Next Steps
API
API Integration
Legacy System Transformati on
Additional Asset Classes
Additional components enabling systems to be smarter and more autonomous
API
Additional components enabling systems to be smarter and more autonomous
API
Thank You! Please Don’t Hesitate to Reach Out
Kesem Frank, Co-Founder, COO
Chakore Goodie, Head of US Operations
[email protected]
[email protected] m
NGX
