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Tokenization of Industrial Capital Goods

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terranets bw

Capacity Booking Process Goes Blockchain

Since August 2018, 51nodes has been working on digitizing a core process of the German natural gas infrastructure operator terranets bw. As the operator of a 2,700 km long high-pressure natural gas network, terranets bw ensures the reliable supply of natural gas from Lower Saxony to Lake Constance. Since August 2018, 51nodes has been working with terranets bw experts to examine the possibilities offered by the use of blockchain technology in infrastructure operations.

As part of the project planning, a connection of the capacity booking process to a future capacity market has now been conceptualized. With the digitization of the process, the technical capacities of the natural gas infrastructure are tied to digital tokens based on the Ethereum blockchain. In the future, tokenized capacities will be transferred between the participants in the capacity booking process using a smart contract.

In contrast to many projects in which blockchain technology is only used as a prototype, terranets bw’s newly conceptualized booking process is in real operation since mid-2019.

51nodes drives the project conceptually and also regarding the technical implementation. 51nodes develops the token design, software architecture and implements all necessary software components.

For terranets bw, the southern German natural gas network operator, 51nodes designed and implemented a blockchain-based capacity booking system. The company’s press release states:

“Comfortable, digital and secure: this is how customers of terranets bw will be able to process their capacity orders from June 01, 2019. The new customer portal simplifies the ordering process and the blockchain technology used ensures that their data is stored in an unchangeable form. (…) terranets bw also broke new ground in the development of the new customer portal. The customer portal was developed together with the blockchain start-up 51nodes from Stuttgart in an agile project and with the involvement of customers.”

Press release from terranets bw