India's state-run refiner, Hindustan Petroleum (HPCL), launched a blockchain system to revolutionize the verification of purchase orders (POs). Through a partnership with Zupple Labs, HPCL is integrating its blockchain-based digital credentialing technology, LegitDoc, into its purchase order system.

HPCL Collaborates with Zupple Labs to Digitize Purchase Order Process

By leveraging Zupple Labs' LegitDoc verification tech, HPCL can seamlessly issue digital POs to vendors without manual verification. On the HPCL website, third-party verifiers can instantly validate the authenticity of POs, streamlining the entire verification process.

"The implementation helps to automate the verification of HPCL POs to external parties," shared an HPCL spokesperson. "This works by integrating the blockchain system with HPCL's internal e-PO and generates tamper-evident verifiable POs," they added. With this innovative solution, vendors will receive digital POs, which can be easily shared with third parties. These POs can be directly verified through the HPCL vendor portal verification application.

Over the past six months, HPCL has worked closely with Zupple Labs to develop and implement this groundbreaking blockchain project. With the successful completion of the blockchain PO system, HPCL plans to roll out the facility to vendors this month, further streamlining their operations, according to Cointelegraph.

HPCL Now Able to Issue Tamper-Evident, Verifiable POs

The Cryptopolitan noted that HPCL has implemented the blockchain-based PO system on private and public blockchains.

The company has adopted a two-pronged approach, utilizing the public Near blockchain and the private Hyperledger Fabric blockchain as settlement layers. The private blockchain adoption aligns with HPCL's Business Continuity and Disaster Recovery strategy, ensuring a robust and secure infrastructure for digital PO issuance.

Since the initial launch, HPCL has already issued approximately 3,000 POs through this digital facility, marking a significant milestone in its digital transformation journey.

With this innovative integration of blockchain and digital technology, HPCL is positioned to transform the verification process and optimize efficiency in supply chain management. This initiative represents a significant step towards digitization and automation, which will have broader implications for India's entire oil and gas industry and beyond.

Photo: Hindustan Petroleum Newsroom