Gazprom crypto
Russia's S7 Airlines implemented its first blockchain-based smart contract for the refueling of one of its aircraft. Gazpromneft-Aero, the aviation refueling arm of state-owned oil giant Gazprom Neft, and S7 Airlines conducted the first refueling of an S7 scheduled flight at Tolmachevo airport in Siberia, using a jointly developed blockchain-based aviation fuel smart contract AFSC. The smart contract was completed along with Russian banking partner, Alfa Bank. By implementing smart contracts, Gazprom reported that aviation companies now have the opportunity to make instant payments for fuel directly on refueling aircraft, without prepayment, bank guarantees or any financial risks to the parties involved. Initiating a smart contract through the AFSC system begins with S7 Airlines coordinating the fuel volume and price with Gazpromneft-Aero about an upcoming flight. This data is used to assign a refueling contract to the tanker driver of the local fuel operator at the airport.
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- Russia set to join growing number of countries banning cryptocurrencies
- Our latest press releases
- Represented Gazprom, a major player of international energy industry
- The carbon pushback to Tesla’s crypto punt
- Gazpromneft Aero completes trial of blockchain smart fueling system
- Putin says 'utter nonsense' Russia is using gas as a geopolitical weapon, ready to help Europe
- What Happens if Russia Cuts Off Europe’s Natural Gas?
- Russian Gazprom to Leverage Blockchain Technology in Gas Supply
- "Gazprom" transits to the blockchain (in Russian)
Russia set to join growing number of countries banning cryptocurrencies
Gazprom Neft, a direct subsidiary of Russian gas monopoly Gazprom MCX: GAZP , is converting gas from its oil fields that would otherwise have been flared, into usable energy for bitcoin mining. Yahoo Finance. Oil production from oil fields often releases natural gas that has to be burnt off into the atmosphere.
This creates a carbon emission footprint that could result in environmental fines. However, in the Khanty-Mansiysk region of northwestern Siberia, Gazprom Neft is using a power plant to transform this waste gas into electricity. The company is now offering a crypto mining venue for utilizing this energy generated from the waste gas.
By doing this, it is killing two birds with one stone. On the one hand, it reduces its emission footprint and associated environmental costs. On the other, it earns a revenue stream. Gazprom Neft has no intentions to conduct cryptocurrency mining on its own account.
However, it plans to offer this low-cost, byproduct energy to crypto miners. The single-largest cost element for crypto mining outfits is the energy that runs their mining rigs.
Their mining margins improve if they can procure energy at a low cost. Therefore, it is a win-win situation for both Gazprom Neft and the crypto miner. It pairs modular bitcoin mining datacenters to natural gas engines, thereby converting this energy into useful work and monetizing it. It partnered with BitRiver, which owns the largest crypto mining venue in Russia. The ETF offers exposure to publicly traded companies actively innovating with plants….
Chinese AI company Parametrix. Though the valuation…. Skip to content. Gazprom Neft, a subsidiary of Russian gas giant Gazprom, is offering crypto mining. Yahoo Finance Twin benefits Oil production from oil fields often releases natural gas that has to be burnt off into the atmosphere. Free Industry News Subscribe to our free newsletter for updates and news about alternatives investments.
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Our latest press releases
Search Search. Menu Sections. The central bank of Russia, the third-biggest crypto mining nation in the world, proposed a blanket ban on the use and creation of all cryptocurrencies domestically. C ryptocurrencies bear the hallmarks of a pyramid scheme and undermine the sovereignty of monetary policy, posing a threat to the Russian financial system, the central bank said in a report published on Thursday. Opposition and media funding accounts for an insignificant fraction of crypto use in Russia but the security services are worried that it is a growing problem, they said. Enter email address This field is required Sign Up. Russia already bans the use of crypto to make payments, and the central bank report called for individuals and businesses that flaunt the rules to be held to account.
Represented Gazprom, a major player of international energy industry
The intergovernmental organization dedicated to the development of worldstandards in the field of combating money laundering and the financing of terrorism FATF , published today, October 28, an updated version of its recommendations on the regulation of digital assets and the activities of service providers associated with such assets. According to the organization's experts, the authorities should oblige cryptocurrency companies conduct identity checks on all of their customers and report all suspicious transactions to regulators. Gas prices in Europe fell sharply following a pledge by Vladimir Putin in November to increase reserves in underground storage " Gazprom " the weight. Even if the company really boosts pumping into its UGS facilities in Europe, for which there is no actual confirmation, the reserves will still be at least twice as low as last year. For the first time in October, Russian airlines may receive from the budget a significant amount of compensation for the rise in prices for jet fuel - we are talking about about 3. This is ten times more than in September. The increase in payments under the damper mechanism for kerosene was caused by the continued increase in wholesale prices, which hit historic highs in October. However, compensations do not fully cover the rise in fuel costs, and carriers cannot completely shift the increased costs into ticket prices. Escrow accounts are opened before winter. Citizens' funds flowed to developers.
The carbon pushback to Tesla’s crypto punt
The Bank of Russia called on Thursday for reinforcing a ban on cryptocurrency payments, prohibiting crypto-mining and tightening laws on trading virtual money. It added that the swift growth of cryptocurrencies is driven by "speculative demand" that leads to the forming of a "bubble". The report added that cryptos resemble financial "pyramid schemes" because their value increases with the emergence of new players on the market. Russian authorities have for years criticised cryptocurrencies over fears they can be used for illegal activities and have called for regulation.
Gazpromneft Aero completes trial of blockchain smart fueling system
Gazpromneft Aero, the aviation fuel operator of Gazprom Neft, has successfully completed tests of its Smart Fuel blockchain-based system for digital aviation refuelling which allows instant payments. Refuelling requests, payment and the exchange of accounting documents are all carried out via applications installed on tablets held by pilots and refuelling operators. Blockchain technology guarantees transaction data is saved in the system and available to all the participants. Gazpromneft-Aero is the aviation fuel operator of Gazprom Neft. Gazpromneft-Aero is the leader in the Russian aviation fuel market in terms of retail sales and uses technologies that ensure compliance with the highest status of the safety level of fuel operations: Green.
Putin says 'utter nonsense' Russia is using gas as a geopolitical weapon, ready to help Europe
The Russian state-owned company Gazprom has created a new subsidiary to own a portion of Nord Stream 2 pipeline, and that way comply with German regulation. Gazprom named the unit Gas for Europe GmbH. The gas transmission company Gas for Europe is to become the owner and operator of the German part of the Nord Stream 2 Pipeline. This includes the approximately kilometre section of the pipeline in German territorial waters and the landfall facility in Lubmin, in the German federal state of Mecklenburg-Vorpommern. The kilometre section of the twin pipeline system was built during the second half of In November the Bundesnetzagentur German Federal Network Agency stated that a subsidiary would need to be established as a precondition for moving forward with the procedure to certify an independent transmission operator.
What Happens if Russia Cuts Off Europe’s Natural Gas?
Already an IBA member? Sign in for a better website experience. For many, the move would have been a daunting prospect but she says she was ready for a new challenge. She believes her time working for the Ministry stood her in good stead to work on large-scale projects in a large organisation.
Russian Gazprom to Leverage Blockchain Technology in Gas Supply
RELATED VIDEO: GAZRPROM DIVIDEND YIELD 2021 ATH HIGHEST REVENUE US SANCTIONSThe gas production center essential to the development of the Russian gas industry in the 21st century. Material facts. Sustainability Report. We have entered the year — the th anniversary of the birth of Russia's first Emperor, Peter the Great. He considered the emergence of Russia as a leading world power and the creation of an empire to be his life's work. He achieved that in his lifetime.
"Gazprom" transits to the blockchain (in Russian)
A report has revealed that the Russian prime minister has accepted an initiative by welcoming the use of blockchain in agreements over gas supplies by Gazprom. This news was made know on the 4th of April, by a local finance news outlet, Vestifinance. According to him, the platform intends to allow data sharing between all the participants of a certain contract, as well as to improve the security of data. This system also provides for automated arbitrage and calculation of payments for gas. It is good to not that the state-owned gas giant has been experimenting with blockchain technology for some time. And in late , Gazprom Neft partnered with a Russian subsidiary of Raiffeisen Bank International to issue a bank guarantee via blockchain.
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