Oil & Gas
Oil and gas is our primary industry segment in initial use case testing of proofs of concept and pilot testing. The selected use cases and future proofs of concept are focused on quickly addressing business processes that are inaccurate, have many transaction steps, and are highly manual in nature resulting in increased G&A expenses. Our first proof-of-concept, the Hyperchain Labs Oil & Gas Blockchain Network, eliminates the need for paper tickets left in mason jars and lockboxes, and fully integrates, automates, and brings together all of the participants in a run ticket transaction including the Lease Operator, Trucking Company, and First Purchaser for crude oil run tickets, and the Trucking Company and Disposal Well Operator for produced water hauling.
We envision the use of enterprise private blockchain to facilitate custody transfers, pipeline nominations, and meter volume reconciliations.
Fintech, or financial technologies have been on the leading edge of disruption due to the application of blockchain technologies. Hyperchain Labs believes there is still much opportunity to address systemic inefficiencies that are much more expensive to change as the regulatory environment changes.
This segment provides opportunities for Hyperchain Labs in multiples areas of public interest projects, including immigration (blockchain identity pairing of migrant parents and children to prevent permanent separation), opioid addiction (blockchain pharma-to-pharmacy tracking), election fraud (blockchain voter ID), and firearms registration systems (blockchain serial number and owner ID pairing).