The majority of oilfield issues relate back to a general inability to effectively collect, record, and coordinate data on an oilfield or well and between all involved stakeholders. Issues arise when data is haphazardly collected and then organized and analyzed in multiple systems after the fact or a double work situation.
The First Genesis BcPaaS™ technology enables data cleansing by providing a blockchain ledger of all information, access to which can be determined and managed by the consortium of stakeholders with access to BcPaaS™. The application of smart contracts automatically structures that data into a universal format, removing the need for manual re-organization.
The First Genesis BcPaaS™ architecture is capable of producing more than:
60,000 proofs per minute / 3,600,000 proofs per hour / 86,400,000 proofs per day
Without requiring the use of GPU farms or large clusters of Virtual Machines
or third-party proofing services!