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《TANK STORAGE》:USING BLOCKCHAIN FOR CRUDE OIL RECEIPT

2022-06-26 09:58:49

最新发行的《Tank Storage》杂志 6/7月刊,发表了“区块链技术在原油数字仓单中的应用”一文,以京博物流助力存货客户完成中国首单原油区块链数字仓单质押融资业务为案例,报道了中国能化供应链数字基础设施——66云链依托区块链、物联网等技术,助力液货仓库进行数字化升级,开立货权清晰的可信数字仓单,并对货物在仓储、运输的状态进行实时监控,推动液体化工品数字仓单在质押融资、交易领域应用的创新实践

 

《Tank Storage》杂志由英国Easyfairs有限公司出版,目前已有15年发行历史,是全球专门针对散装液体仓储和终端行业的领先刊物,也是安特卫普/鹿特丹石油化工技术设备服务展会、迪拜仓储世界博览会、新加坡亚洲仓储博览会及德国汉堡仓储博览会的官方刊物。杂志每年出版7期,关注全球散装液体仓储行业最新的新闻、发展、产品和创新,受众主要包括各类石油、石化、天然气行业的首席执行官、仓储经理、高级工程师、物流经理,及第三方集散中心的运营高管等,在业界拥有巨大影响力。 

 

 

以下为英文版报道全文:

 

Chinese digital technology company 66Yunlian Technology has completed the world’s first crude oil blockchain digital warehouse receipt pledge

Recently, Chambroad Logistics, China's leading hazardous chemicals logistics enterprise, cooperated with66 Yunlian Technology(hereinafter referred to as ‘66Yunlian’), a digital technology company invested by Sinochem Group to complete the world's first crude oil digital warehouse receipt pledge financing business based on blockchain and Internet of things technolog. In this business, Qingdao Taihe Jiabai Energy Co., Ltd. applied for issuing a warehouse receipt based on its 17,000 tons of crude oil stored in Chambroad Logistics, and Chambroad Logistics issued a digital warehouse receipt for it on the 66Yunlian’s blockchain digital warehouse receipt platform. Subsequently, Qingdao Taihe Jiabai Energy launched an online digital warehouse receipt pledge application, and Shandong Port Financial Holding Co., Ltd. conducted a risk control approval including cross verification of the data elements of the digital warehouse receipt and related attachments and completed the warehouse receipt pledge registration. The loan was made in seconds and about 40 million yuan of low interest loan was granted to Qingdao Taihe Jiabai Energy.
In addition, on March 29, Chambroad Logistics cooperated with 66Yunlian again to implement the digital warehouse receipt pledge financing business of crude oil blockchain, copying the business model successfully. The lender of this business is Bank of Rizhao, and it is also the first national digital warehouse receipt pledge financing business of crude oil blockchain implemented by China’s urban commercial banks.
It is reported that at present, more than 20 third-party petrochemical storage enterprises, Accounts for 15% of China's third-party petrochemical warehousing market share, have cooperated with 66Yunlian to carry out digital upgrading, and have the corresponding digital reservoir foundation, which can provide inventory customers with derivative services such as digital warehouse receipt pledge financing.

 

INCREASING TRUST 

 

The third-party petrochemical storage enterprises are facing the pain points such as low profit, relying more on storage and loading and unloading for revenue, and lack of new profit model for a long time. In addition, in previous years, the fraud of commodity pledge financing, including false warehouse receipts, unclear cargo rights and repeated pledge of warehouse receipts, occurred frequently, which not only caused heavy losses to financial institutions, but also seriously damaged the credibility of warehousing enterprises. Solving the trust issue of warehousing enterprises and attaching warehouse receipts to property rights have become the only way for global warehousing enterprises to improve asset performance and explore derivative income.
“China's Civil Code stipulates that the warehouse receipt is the certificate for picking up the stored goods. We combine law and financial technology to realize Empowering trusted warehouses with trusted technology and issuing trusted warehouse receipts by trusted warehouses”. The relevant person in charge of 66Yunlian also said that “66Yunlian is not a system specially built for finance. The digitization of supply chain in energy and chemical industry is our main business, and the application of blockchain digital warehouse receipts is just a derivative based on the digital infrastructure of the supply chain in energy and chemical industry.”
According to the person in charge, the core highlights of the 66Yunlian blockchain digital warehouse receipt system are as follows:
Firstly, the digital upgrading of the whole logistics link through Internet of things, Internet and other technologies is not only limited to warehousing, but also extended to links such as vehicles, ships and pipeline transportation beyond the warehousing. At the warehousing end, 66Yunlian will deploy a set of account and inventory management system and digitize the storage sensor signal, so that the digital image can reflect the liquid level, pressure and temperature of goods in a specific storage tank in real time, achieving “consistency between accounts and facts”; At the transportation end, 66Yunlian will distribute the granularity of cargo asset control to the smallest carriers - vehicles and ships, and make the whole process data real-time online visible and traceable. Through the digital twinning of the supply chain of goods in vehicles, ships and warehouses, and combined with the cross verification of invoices, documents, business contracts and other bills and information, it can meet the definition requirements of the Civil Code on the establishment and transfer of movable property rights, and truly solve the issue of goods right confirmation under the delivery scenario.
Secondly, thanks to the features of blockchain technology, such as distributed storage and tamper resistance, it solves the trust and security issues of obtaining the closed-loop data of the underlying “vehicle, ship and warehouse” from sensors, the Internet of things and the Internet in the processes of cloud storage, query, tracking and traceability.
Thirdly, different from the traditional static paper warehouse receipt, the digital warehouse receipt of 66Yunlian is a dynamic and visual digital files. All the elements that legally realize the real right of movable property are "bundled" in the attached digital files of the digital warehouse receipt, along with the whole life cycle of the warehouse receipt. And at the same time, the real-time signal of the sensor of the storage tank is transmitted to the digital warehouse receipt, which not only meets the requirements of the stipulations on the basic elements of the warehouse receipt, but also provides the users of the warehouse receipt with an application scenario that can not be realized by the traditional warehouse receipt.

 

WhAT ARE THE APPLICATION SCENARIOS

AND VALUESOF BlOCKCHAIN DIGITAL 

WAREHOUSE RECEIPTS?

 

66Yunlian has cooperated with China Construction Bank, Hengfeng bank, Huaxia Bank, China CITIC Bank, Bank of Rizhao bank and other banks in conducting the block chain digital warehouse receipt pledge financing business.
“In addition to helping warehouse receipt holders realize their financing needs, digital warehouse receipts with clear cargo rights can also be widely used in warehouse receipt transactions of bulk commodities. For example, in the spot trading place of bulk commodities, high-frequency trading of spot warehouse receipts can be carried out; The warehouse receipt exchange function can solve the exchange demand of similar bulk commodities in different places, and use the freight basis to solve the regional price difference.” says 66Yunlian’s spokesperson.
A representative of Chambroad Petrochemicals adds: ‘Chambroad Petrochemicals is one of the largest independent refineries in China. The first digital warehouse receipt pledge financing business of crude oil blockchain has activated our raw material inventory and revitalised our goods assets. It is an innovative attempt for win-win results.’ The 66Yunlian spokesperson points out that there are further application scenarios of its blockchain digital warehouse receipt system.
‘Chemical products such as petroleum, coal and natural gas, and grain products such as palm oil, soybean oil and biofuels can be applied as long as they are in liquid and gas state. We can also provide solutions for some goods in both liquid and solid state. In addition, we will also work with TradeGo, a leading blockchain service platform for international trade in bulk commodities in China, to explore the business scenario of transferring ocean bills of lading to warehouse receipts in international trade, so as to realise the cross verification of the ownership of imported goods.’