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RE: What contributions can blockchain technology make to the oil industry?

in Project HOPE2 years ago (edited)

Many of these data are traditionally stored in folders, data transmission systems that are usually not at all reliable since the information can be manipulated by anyone who has access.

I don't see why blockchain is a better data storage method than any modern, secured computerized company database system. But I'm not an expert.
Maybe a closed, intranet company blockchain?


Likewise, for example when I worked as an operations engineer in the drilling area at the national company Petróleos de Venezuela SA (PDVSA) we handled a series of operational data that was stored in a data transmission system called DIM'S where anyone could access it, even workers from other departments that perhaps have nothing to do with drilling, comparing the benefits of the blockchain could say that it will serve as a shielded technology where only those involved would have access to operational information such as

  • Properties of the drilling fluid.
  • Mud pump flow rate.
  • ROP.
  • Drilling speed.
  • Lithology information of the formations that are crossed while drilling.
  • Underground completion equipment.
  • Final drilling length.

Among many other properties and data during drilling that is loaded in systems that are not shielded as if it could be a blockchain system.

As you say it could work well as a closed intranet system, anyway I am not an expert in this technology because I do not understand it very well, but what I do understand is the operational drilling activities and I know how vulnerable the traditional systems of information backup are.

The idea would be to see how it works once the blockchain system is implemented and to see how it works not only in the management of stored information but also in the transmission of payment transactions in the marketing of hydrocarbons. The other thing to consider is the proposal that may arise, but perhaps another will be the acceptance of the oil companies, since almost every change has a refusal to accept the change.

Thank you for sharing your concern, I only hope that I have been able to guide you in your doubt, my friend, greetings.

Thank you for your long answer. Anyhow, reliable data is essential in modern times.

Grateful with you rather for the interaction through the comments and the doubts that you very well formulate sir. Greetings