Dower partnered with Brisbane-based blockchain developers Labrys to design and trial the bespoke blockchain solution
Downer trials blockchain technology. (Credit: Downer Group)
In an Australian first for the asset services industry, Downer is trialling new blockchain technology to manage complex shutdown and turnaround maintenance work.
Downer’s Asset Services business performs more than 130 shutdowns, turnarounds and outages each year for customers across the power generation, oil and gas and industrial sectors, and is currently trialling the use of blockchain.
Essentially a smart database to store, share and secure information, blockchain has the capability to boost efficiency, heighten security and create transparency in contract management, benefiting both delivery partners and customers.
The trial is just one of the ways Downer is working to improve customer experience, says Pat Burke, Executive General Manager of Downer’s Asset Services business.
“A key factor in the successful management of large maintenance outages is having real time information regarding asset condition, time, cost and schedule that allows fully informed decision making during the actual execution of major and minor works,” he says.
“I believe blockchain technology will be used in many business-to-business transactions in the coming years.”
“We are developing this technology in Australia, for Australian businesses, and by investigating the capability of this solution now, Downer is well placed to support our customers with innovative solutions into the future.”
Dower partnered with Brisbane-based blockchain developers Labrys to design and trial the bespoke blockchain solution for Asset Services customers.
Source: Company Press Release