FYEO Partners with Shell to Power a Future of Sustainability Powered by Blockchain
FYEO is proud to have partnered with Shell on the audit of Avelia, their blockchain powered book-and-claim solution for scaling sustainable aviation fuel (SAF).
Developed by Shell and Accenture, with support from the Energy Web Foundation, Avelia comes to market via American Express Global Business Travel’s leading business travel service. It is the largest SAF book-and-claim pilot at launch with up to 1 million gallons of SAF offered.
Book-and-claim is a model that allows airlines and corporations to pay for SAF and respectively claim the environmental benefits, even if SAF is not available at their departure airport. SAF will instead be fed into another aircraft in an airport where available. Avelia leverages blockchain to provide clear and transparent tracking of the SAF environmental attributes, allocating to both airlines and corporations while avoiding issues such as double counting. Once the environmental attributes of a batch of SAF have been allocated to airlines and corporations, the data is automatically retired and cannot be further allocated to others. This information can be further externally validated on the open blockchain. The innovative use of blockchain technology in Avelia ensures data integrity and credibility for customers.
The first phase of Avelia aims to demonstrate that the tracking of SAF data, at scale, can be delivered in a credible manner, thereby proving to industry decision makers that a mechanism to book and claim SAF is an acceptable form of emission reduction. In turn, this will create a viable and sustainable way for both airlines and business customers to contribute to the cost of SAF and reduce carbon emissions in their respective scopes.
The FYEO Process
When FYEO performs an assessment, we focus on the code committed at a specific time when the code base is feature complete.
Our goal is to give our clients the following:
A better understanding of its security posture and help them identify current and future risks in its deployed chain & contract infrastructure.
An opinion on what security measures are in place regarding maturity, adequacy, and efficiency.
Identify potential issues, including loss of funds scenarios, and include improvement recommendations based on the result of our assessment.
Give the development team a better understanding of writing and maintaining more secure code. The incremental increase of security is part of the overall increased quality of the project.
During the Security Assessment for this project, the Accenture and Shell teams were incredibly cooperative and we were able to work together to remediate all of the findings that we identified throughout our auditing process.