BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

HPCL Employs Blockchain Technology for Automating Purchase Order Verification

by Dan K
Oct 19, 2023 - 3:00 pm
in Blockchain
An Indian engineer becomes the latest victim of a cryptocurrency investment scam, losing over $114K.

HPCL Innovates with Blockchain in Purchase Order Management

India’s state-run refiner, Hindustan Petroleum (HPCL), embarks on a technological revolution by integrating blockchain technology to optimize its purchase order (PO) management system.

Automated Verification for Enhanced Efficiency

In a significant collaboration with Zupple Labs, HPCL brings on board the cutting-edge digital credentialing technology, LegitDoc. This novel introduction facilitates the issuance of digital POs to vendors, automating the verification process and eliminating the need for manual interference.

Facilitating Third-party Verifications

The implementation shines in facilitating third-party verifications. Vendors and external parties can effortlessly validate the authenticity of POs through the HPCL vendor portal, enabling seamless, secure, and efficient verifications and transactions.

Strategic Partnership for Technological Advancement

HPCL and Zupple Labs have devoted the past six months to evolving and refining the blockchain project, ensuring its seamless integration and functionality. It’s a strategic maneuver to streamline operations and enhance productivity in purchase order management.

Dual Blockchain System for Robust Operations

In a remarkable strategy, the initiative involves the utilization of two parallel blockchains – a public Near blockchain and a private Hyperledger Fabric blockchain. This bifurcation acts as settlement layers, each playing a crucial role in HPCL’s Business Continuity and Disaster Recovery strategy.

Forward-Thinking Implementation

As a testament to its forward-thinking approach, HPCL has successfully issued 3,000 POs through this system as of mid-October 2023. This accomplishment marks a significant milestone in leveraging technology to enhance operational efficiencies and foster robust vendor relationships.

Conclusion: A Leap Towards Technological Resilience in Operations

The successful integration of blockchain technology by HPCL, in partnership with Zupple Labs, marks a monumental advancement in operational efficiency and vendor management in India’s oil and gas sector. This innovative approach not only streamlines the verification processes of purchase orders but also fortifies the integrity and reliability of transactions. By embracing cutting-edge technologies like blockchain, HPCL exemplifies a vision that aligns with contemporary advancements, ensuring that the company’s operations are resilient, adaptive, and technologically robust. This initiative heralds a new era of technological innovation in the industry, positioning HPCL as a leader in embracing transformative solutions for enhanced operational excellence.

Tags: BlockchainBusinessIndia
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

Related Posts

Crypto traders favoring Europe’s MiCA regulation over US uncertainty

Despite Trump’s Support, Crypto Firms Flock to MiCA Over US Regulations

June 22, 2025

Europe draws crypto momentum under MiCA, while US retail interest falls despite Trump’s backing and lack of clear...

creenshot of fake CoinBridge crypto exchange linked to $860K scam

Florida Investor Scammed Out of $860K by Crypto Trading ‘School’ and Fake Exchange

June 22, 2025

Fake crypto school and exchange scammed a Florida man out of $860K through fake trade signals and phantom...

Young South Korean man trading cryptocurrency on a laptop in a small apartment

South Korean Youth Turn to Crypto Amid Economic Desperation

June 20, 2025

South Korea’s youth are embracing crypto not for belief in blockchain, but due to rising housing costs and...

AgriFORCE's Bitcoin mining site in Alberta powered by stranded natural gas

AgriFORCE Powers 120 Bitcoin Mining Rigs With Stranded Natural Gas in Alberta

June 19, 2025

AgriFORCE powers 120 Bitcoin miners with stranded gas in Alberta, eyes two more sites. It may keep 50%...

Press Releases

image2

Could XYZVerse Overtake DOGE and SHIB? Analysts Say $0.003333 Could Explode to $10!

March 30, 2025

XYZVerse aims to outpace DOGE and SHIB, with bold $10 price goals, strong community rewards, and rising demand as it...

image1 1

Massive Institutional BTC Buys Could Launch the Next Bull Market: 5 Altcoins to Watch

March 29, 2025

Institutional Bitcoin buys may trigger a market surge. Five altcoins, including $XYZ, stand to gain—early investors could see major ROI...

image1

XRP Faces Strong Resistance While XYZVerse Gains Early Investor Attention With 10 Billion $XYZ Airdrop

March 28, 2025

XRP struggles at resistance, while XYZVerse grabs early investor attention with a 10B token airdrop and rapid growth toward a...

BTC

Popular Memecoin MEW Pledges $10,000 to Pasadena Humane Organization to Aid Animals Affected by California Wildfires

January 20, 2025

MEW memecoin donates $10K to Pasadena Humane for wildfire-affected animals. Join the mission to aid pets and wildlife in crisis...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise