Problem

Confirmations and settlements can be large FTE cost drivers for large utilities

  • We estimate that the mid and back-office overhead on emissions attributes transactions in Alberta can be up to 40% of all transaction costs
  • Highly manual processes driven by analog data sources such as email PDFs, phone calls, and faxes
  • Multiple platforms to login and synchronize create extra reporting to catch errors and reconcile between platform confirmation/settlement platform and corporate systems
  • Each party has to perform the same steps independently driving overall transaction costs up

Solution

Settling transactions on a blockchain removes overhead and creates one source of the truth that is automatic, immediate, and immutable

  • We verify and validate transactions from first sources directly on a blockchain, each party validating and verifying their required portion, creating one source of the truth confirming and reconciling automatically
  • We bring all data comes into the blockchain and push to record systems out of the blockchain automatically and in near real time providing data when you need it
  • We trigger payments automatically as frequent as required allowing for better cash management and de-risking of revenue and payments

 

We can help you make settlements faster and less costly. Contact us to find out how.

Who we’re working with

  • Back offices and trade floors at utilities
  • Independent system operators and governments
  • Independent power generators