SNAM is the Italian Natural Gas (NG) Transmission System Operator (TSO) and it also manages the Virtual Trading Point, the Italian gas trading hub. In December 2019, SNAM performed the first market transaction with a blockchain-based trading platform developed by PROSUME.
PROSUME developed a fully functional platform that manages bilateral transactions for the purchase and sale of natural gas based on blockchain.
The experimentation exploits the advantages in terms of immutability, security and transparency of data, guaranteed by the distributed ledger, also helping to make interactions between users simpler and more immediate, thanks to machine-to-machine transactions developed through smart contracts and algorithmic trading.
The blockchain is gaining momentum in the NG Sector, as it may support the development of renewable gases by facilitating the tracking of energy sources and flows, thus optimizing their production and consumption.
Apart from SNAM, PROSUME collaborated with Axpo Italia and Sorgenia – two Italian Natural Gas retailers – in defining the requirements and successfully validating the technology.
- company: PROSUME srl
- counterpart: SNAM spa
- type: PoC
- date: January 2nd, 2020