Smart Refinery

Upik05

Introduction

The mission of the project is the implementation of blockchain technologies in the oil refining industry on a global scale. Since 2012, the initiator of the project Smart Refinery Technologies Group is a developer and supplier of high-tech refining equipment for small and medium refineries. The company has developed technological processes and equipment based on new generation zeolite catalysts. The proposed equipment will significantly (often several times!) Increase the profitability of small refineries by increasing the depth of oil refining and improving the quality of petroleum products produced – gasoline and diesel fuel. SRT equipment is easily integrated into existing mini-refineries, and also allows you to quickly create new production of motor fuels there, fuel and access to raw materials for processing (oil or gas condensate).

The technical architecture of the blockchain platform Smart Refinery Technologies (SRT) is based on the principles of creating open source applications that combine smart contract templates, tools for creating and infrastructure for their operation. The SRT platform will operate on the Ethereum blockchain base using the Proof of Authority (PoA) consensus mechanism.

An important component of the SRT blockchain platform will be “Industrial Internet of Things” (IIoT, “Industrial (Industrial) Internet of Things”) – a distributed network infrastructure integrated with the industrial process control system of industrial equipment. Will include digital sensors and

interworking protocols for combining sensors and controllers of the automated process control system into a local network and integration into the blockchain. This will automate the collection of data on the operation of equipment, the transaction for paying royalties, and provide global service support for the engineering center of the equipment supplier.

What problems in oil refining industry are going to be solved by SRT Group

Problem 1

High prices of fuel because of logistics complexity to regions with lack of oil refinery capacity

Solution:

Decentralized network of small oil refineries creation with high speed of organisation and comissioning of Smart Refinery facilities

Problem 2

Environmental pollution in developing countries due to obsolete oil refineries

Solution:

Eco-friendly EURO-5 class fuel production based on manufacturing modules of SRT Group

Problem 3

The absence of a convenient oil exchange for medium and small volumes of fuel. Expenses of oil traders when they try to find the right batch of oil products, complex calculation schemes and high risks.

Solution:

Blockchain-based decentralized petroleum exchange: KYC of trading participants in blockchain, smart contract-based clearing, AI-system to help traders, payment of commissions of SRT tokens

Problem 4

No possibility to pay fuel at petrol stations with cryptocurrency

Solution:

Issuance of a SRT international fuel card with the possibility to receive discounts on fuel up to 20% and pay for refueling both with fiat money and with cryptocurrency

PLATFORM ADVANTAGES

• Fuel exchange and production business processes autimation based on based on blockchain and artificial intelligence (AI) technologies.

• Integration with industrial protocols of IIoT for ma complexes, logistics depots, payment terminals.

• P2P payments and smart-contracts support.

• High speed of transactions and a possibility to process more than 100,000 transactions per second.

• Low commissions – now more that $0,001 for transaction.

• Fuel trading convenient instrument for small and medium-sized businesses

Technical architecture

Technical architecture of Smart Refinery Technologies (SRT) blockchain platform is based on the principles of creating open source applications that combine templates of smart contracts, toolset for their building, and infrastructure for their operation. SRT platform will work on the basis of Ethereum, using consensus mechanism Proof of Authority (PoA). Consensus mechanism PoA in the SRT network is chosen to reduce delays and operating costs. It will be possible to quickly display the status of a private network in a public network, in order to ensure the immutability and integrity of data. «Industrial Internet of Things» (IIoT, «Industrial (manufacturing) internet of things») will be an important component of SRT blockchain platform. It is a distributed network infrastructure, integrated with automatic process control system (АSU ТP) of industrial equipment. It will include digital sensors and interworking protocols for assembling the sensors and controllers of the automatic process control system into a local network, and integration into a blockchain. This will allow the automation of collection of data regarding equipment operations, transactions for payment of license fees, and provision of global service support from the equipment supplier’s engineering center.

Accounts between the members of blockchain platform will be settled using SRT-coin tokens (ERC20 standard). SRT blockchain platform will provide convenient tools and templates for, creating smart contracts, automatic collection of data regarding equipment operations, settlements of accounts and transactions between companies.Due to open architecture of the Platform its features can be used by all interested developers of dApps, suppliers of equipment and service providers for the oil processing industry, which will open the possibility for them to enter the global market more simply.

ICO details

General information

Token: Srt

Platform: Ethereum

Standard: ERC20

Quantity: 100,000,000 SRT

Price: 1 SRT = 1 USD

Payment: ETH, BTC, LTC, BCH, DASH

Soft cap: 500,000 USD

Hard cap: 5,000,000 USD

KYC: NO

PreICO

Start: 07.15.2018

Completion: 07.23.2018

ICO

Start: 09/25/2018

Completion: 10.25.2018

ROADMAP

2012

Start-up, the formation of the research and engineering project team to develop technological solutions for secondary refining processes for small refineries, which became the basis of the project Smart Refinery

2013

Development of catalysts for the processes of isomerization of gasoline and dewaxing of diesel fuel. Successful Laboratory Tests

2014

Creation of mobile installations of containers. The concept of rapid production deployment at any turnkey location based on SRT modules.

2015

The beginning of production tests at real refineries. Development of a catalytic cracking unit for fuel oil to increase the depth of oil refining at small refineries

2016

Continuing research, improved catalysts. Receive requests for the installation of production modules from refiners from Russia, USA, Kazakhstan, Iraq and others.

2017

Development of a blockchain platform for the automated management of license payments for each production module of Smart Refinery, which will operate worldwide.

2Q 2018

Start of operation of the blockchain platform. Supply of equipment for modernization of partner refineries in Russia, Kazakhstan

3Q 2018

Run refinery in Russia (1-2x)

4Q 2018

Submission of patent applications, conclusion of contracts with partners

2019

Launch of refineries in the USA (2x), as well as refineries in Kazakhstan, Iraq, Bangladesh

2020

Creation of a global refinery network (Russia, Kazakhstan, Uzbekistan, Turkmenistan, USA, Canada, Mexico, China, India, Indonesia, Iraq, Syria, Egypt, Libya, Algeria, Nigeria, Angola)