India's HPCL Implements Blockchain System for PO Verification

Automating Purchase Order Verification

India's state-run refiner Hindustan Petroleum (HPCL) has partnered with blockchain software firm Zupple Labs to launch a blockchain system for the automated verification of purchase orders (POs). The system, called LegitDoc, enables HPCL to issue digital POs to vendors without the need for manual verification. Third-party verifiers can directly verify the validity of POs on the HPCL website, providing a more efficient and secure process.

Collaboration and Implementation

HPCL and Zupple Labs have been collaborating on the blockchain project for the past six months. The company has completed building the blockchain PO system successfully and plans to make it official for vendors within this month. The system has been implemented on both private and public blockchains to ensure enhanced security and reliability.

Parallel Blockchains for Settlement

The PO verification system involves the use of two parallel blockchains as settlement layers. The public Near blockchain and the private Hyperledger Fabric blockchain are both utilized. The private blockchain plays a crucial role in HPCL's Business Continuity and Disaster Recovery strategy, providing an added layer of protection.

According to Zupple Labs, HPCL has already issued 3,000 POs via the blockchain system as of mid-October 2023.