Blockchain in the Chemical Industry: Insurance against natural disasters?

BHUDEEP HATHI | June 27, 2018

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Naturally caused events like hurricanes and tsunamis are a significant risk to the continuity of business operations worldwide for chemical companies. The frequency at which these events have been occurring appears to be on the rise. In addition to their impact on businesses, natural disasters have also been causing immense challenges to local communities. In certain cases, these damages have legal consequences, especially when companies have operations that are potentially damaging to the environment or can affect the safety of communities in those areas. Take hurricanes, for example. These storms have severely impacted various industries due to the disruption of logistics and supply chains, aside from causing infrastructure and inventory damage. Hurricane Harvey, which struck the middle-Texas coast in September 2017, was deemed to be the second most costly hurricane in the United States after Hurricane Katrina, causing US$125 billion1 in damage and disrupting roughly one-third2 of chemical production in the United States.

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Novasol Chemicals Group

Novasol Chemicals is an independent, 100% privately owned, Chemical Distribution company, established in Belgium in 1996. Novasol Chemicals provides tailor-made solutions and multiple packaging capabilities for a broad portfolio of Commodities and Specialty chemicals. We serve a wide range of customers active in areas of Resins & Coatings, Pharmaceuticals, Agrochemicals, Petrochemicals and Gas, Industrial Applications, Water Treatment and Personal Care.

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Spotlight

Novasol Chemicals Group

Novasol Chemicals is an independent, 100% privately owned, Chemical Distribution company, established in Belgium in 1996. Novasol Chemicals provides tailor-made solutions and multiple packaging capabilities for a broad portfolio of Commodities and Specialty chemicals. We serve a wide range of customers active in areas of Resins & Coatings, Pharmaceuticals, Agrochemicals, Petrochemicals and Gas, Industrial Applications, Water Treatment and Personal Care.

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