AmSpec x V-ID
Entering Oil & Gas sector with a global heavyweight
AmSpec produces 50,000 inspection reports per month globally
AmSpec is a global leader in inspection in the oil and gas sector with over 200 operational sites worldwide and is one of the fastest growing players in this industry. AmSpec produces over 50,000 inspection reports each month for most of the major petroleum refiners and traders.
It’s no surprise to find the most modern technologies at AmSpec, and now they have a technological scoop yet again.
AmSpec’s reports and analysis certificates are a crucial part of daily operations in the global refinery sector, since they determine the market value of commodities like oil and gas. These reports contain sensitive and vital data, so immutability is of utmost importance.
To ensure a report remains authentic, AmSpec will be one of the very few companies in its sector to sensibly apply state of the art blockchain technology. From now on, the V-ID blockchain tech will protect the AmSpec values against falsified reports; any report can now be verified whether it’s an original, or a copy.
Marnix van den Berg, Lead Development, V-ID: “They’re a key player in the oil and gas sector. It’s a wonderful use case and so far, already it has been a great project, their hands-on mentality really is a blessing."
After adding Krohne and Airbus Defence & Space to their client base, AmSpec is the third industry giant to use V-ID. AmSpec’s reports are protected by V-ID’s validation tech, so that at any moment, clients and traders in commodities can check if the data is authentic. Using any device with a browser, the report, or a copy of it, is verified in 5 seconds.
Christopher Sammut, Area Manager, AmSpec: “AmSpec’s reports contain sensitive market information which is vital for our customers’ interest. The V-ID blockchain technology will allow our clients to easily verify the authenticity of our reports.”
One blockchain, depending on how many nodes it has, can be secure enough for most processes. However, V-ID has decided that there is even greater security in numbers and is able to offer a combination of more than one blockchain providing many thousands of nodes. The digital fingerprint of the AmSpec reports will be stored on the Ethereum, LTO Network and DigiByte blockchains.
According to Marnix: “Our platform can automatically anchor the unique fingerprint in multiple blockchains. The service is GDPR-compliant as privacy is always one of our focuses. V-ID provides easy access to public, hybrid and permissioned blockchains such as Bitcoin, Ethereum, DigiByte, LTO Network and Hyperledger.”
With the addition of AmSpec to the client base, V-ID is instantly well positioned in the oil and gas industry.