I assume they've set up an ethereum network with Proof of Authority instead of Proof of Work or Stake which means this isn't really decentralized since the transactions are being solely mined by a controlled group of trusted nodes. The five-engineer team I work on did the same over the course of the past six months and for us it's just a stop-gap until we can move to Proof of Stake, get some third party nodes on the network and finally consider ourselves decentralized as a blockchain.
