As per the latest reports, Blockchain as a Service company BlockApps has collaborated with software consultancy firm Optimum. As a part of this partnership, BlockApps and Optimum will build a blockchain platform for tracking energy usage.
About BlockApps and Optimum
Optimum is involved in the oil and gas, manufacturing and construction industries. On the other hand, BlockApps is the developer of a cloud-agnostic blockchain platform, named STRATO. Both of these firms will be working together to develop and implement various application integrations for STRATO.
BlockApps and Optimum acknowledged the extreme crisis in the global energy industry, owing to the diminishing oil sector and relevant supply chains causing economic imbalance amid the COVID-19 outbreak.
Optimum clarified that it aims to use BlockApps’ STRATO platform to address the challenges in the oil and gas, manufacturing and construction sectors by harnessing blockchain technology.
As of now, the US crude oil prices are at an all-time low and the industry is facing an extreme supply and storage reserve shortage due to a massive downfall in global demand.
Last year BlockApps collaborated with the agricultural wing of pharmaceutical and life science company Bayer AG to execute a series of blockchain initiatives. Moreover, BlockApps is continuously integrating its offerings with cloud services like Azure, Amazon Web Services, and Google Cloud Platform.