Engineering and construction firm Downer Group announced it is experimenting with new blockchain technology “to handle complex closures” and “turnaround maintenance work”.
The company says testing this technology is the first of its kind in Australia for the wealth services industry.
Downer’s “Asset Services” business performs over 130 shutdowns and turnarounds annually for customers in the industrial sectors. It is currently experimenting with the use of blockchain technology.
Blockchain can improve efficiency and security, as well as create transparency in contract management. Technology benefits both delivery partners and customers.
Downer’s general manager of Asset Services, Pat Burke, noted that the process is one of the ways the engineering firm is trying to improve its customer experience.
Burke added: “A key factor in the successful management of large maintenance outages is having real-time information regarding the condition, time, cost and schedule of assets that enables you to make fully informed decisions during the actual execution of work. major and minor.
“I believe blockchain technology will be used in many business-to-business transactions over the next few years.”
“We are developing this technology in Australia, for Australian companies, and looking into the capability of this solution now, Downer is well placed to support our customers with innovative solutions in the future.”
In July, multinational commodity giant BHP awarded Downer Group a two-year contract for its iron ore sites in Western Australia.
In May Downer EDI secured a contract with Fortescue Metals to complete work at the Eliwana iron mine in the Pilbara region of Western Australia.
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