Use case · 2019
SNAM
In December 2019 SNAM, the Italian natural gas TSO, ran its first market transaction on a blockchain trading platform built by PROSUME.
SNAM runs Italy's gas transmission network and the Virtual Trading Point, the Italian gas trading hub.
PROSUME built a working platform for bilateral purchase and sale of natural gas on a blockchain. The ledger keeps every record unchangeable and visible to the parties. Smart contracts and algorithmic trading let machines close transactions with each other, which made the exchange simpler and faster.
Blockchain can also help renewable gases grow, by tracing where gas comes from and where it goes.
Key outcomes
Two Italian gas retailers worked with PROSUME and SNAM to define the requirements and validate the technology. Proof of concept, completed in January 2020.