Financial Reconciliation

Oilfield services companies are often not compensated for weeks or months after completing their tasks, often because of the difficulty in proving services performed. Many services companies rely on the performance of a separate team or individual, in order for one company to be compensated, the preceding companies must all prove they completed their tasks in order as well. This causes tremendous backlog in the reconciliation process, making staggering amounts of money liable as companies wait for compensation.

The First Genesis BcPaaS™ provides an accessible ledger that collects and structures data, manages identity, and ensures transparency, the financial reconciliation process can be cut down from months to a matter of seconds.

The First Genesis BcPaaS™ architecture is capable of producing more than:
60,000 proofs per minute / 3,600,000 proofs per hour / 86,400,000 proofs per day
Without requiring the use of GPU farms or large clusters of Virtual Machines
or third-party proofing services!