Brazilian integrated steelmaker Gerdau and global refractories producer RHI Magnesita are using a blockchain-powered software to enhance performance at a Gerdau’s mill in Minas Gerais state, Gerdau said in a statement.
The software, known as Refrac Chain, measures the performance of the refractory products supplied by RHI Magnesita’s to Gerdau. Blockchains are systems that record transactions and other information at peer-to-peer networks.
The project was launched this year at a Gerdau’s Minas Gerais state mill and might expand to other mills, the steelmaker said. Gerdau said both companies invested an undisclosed amount in the software. Despite being used to measure the performance of Gerdau and RHI Magnesita-related contracts, Gerdau said the software could have other uses in the steel industry.
“We seek solutions that meet our business in partnership with our suppliers, so we can guarantee the operational excellence at our mills. This initiative brings trust, speed and agility … and reflects the digital transformation which Gerdau has been experiencing in the last (few) years,” said Vinicius Moura, supply general manager at Gerdau.