BLOCKCHAIN TECHNOLOGY FOR SECURING AND MANAGING LEDGER DATA BASE IN OIL AND GAS INDUSTRIES
DR SUGANDA P, AMARESH S, HEMA G, SOUMYA H, SHUCHI H
ELECTRONICS AND COMMUNICATION
RURAL ENGINEERING COLLEGE HULKOTI
INTRODUCTION
Oil and gas (petroleum production) have been important sources of income, vitality and industry for the national economy and production in recent decades [1]. Nigeria is one of the eleven countries in the Organization of the Petroleum Exporting Countries (OPEC) with the highest ranking in exports of petroleum products [2]. However, the distribution of this commodity in Nigeria has proven to be very challenging for many years, causing major economic fluctuations in the region. Among them are carbon shortages, oil and gas hijacking, market growth and other issues. In Nigeria, interruptions in the supply of this combustible resource are a common occurrence because of the large number of problems with its delivery. In addition to other professional activities in the marketing supply chain, Aminu et al. Petroleum products (oil and gas) are primarily essential energy resources worldwide, and are a major part of the economies of most developing countries, such as the United States, the United Arab Emirates, and Saudi Arabia. . [3]. Weakness of treatment due to corruption, bribery and lack of accountability between the supply chain and the delivery phase parties is one of the explanations for the shortage of goods in the country [4]. The use of manual transactions, intentional destruction of structured distribution ledgers and piping network delivery has been associated with fraud, theft and misuse in the distribution process [5]. Although the previous transaction log was classified as Illustrated Ledger (3200 BC), it is the transaction record used by each business entity to store records over the past century [6,7]. Computerized spreadsheets are more advanced technology for storing documents in worksheets. This digital ledger was established as the Central Ledger, which is subject to manipulation as well as abuse and fraud. Centralized control and misuse are two other factors that have contributed to the creation of block-chain cryptographic methods presented in this study for the management of decentralized ledger framework. Block-chain has Bitcoin-supported infrastructure [8], advanced guidance services capable of influencing financial transactions, and benefits such as accountability, accurate tracking, permanent ledger, cost avoidance and record storage [9]. With Time Stamped Digital Archives, block-chain technology is a solution for digital trusts in record keeping and knowledge management.
