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Blockchain Technology Adds Transparency to Spain’s Olive Oil Industry

Galpagro, a pioneering company focused on high yield olive groves, and IBM Spain have joined forces on an initiative that uses blockchain technology to trace all stages of extra virgin olive oil production and distribution, from the olive tree to the consumer. This technology applied to olive oil is a …

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Crude oil is about to be traded on a blockchain platform backed by five of the top 10 oil companies

Trading of physical commodities has historically been a cumbersome process, requiring mountains of documents, including letters of credit, invoices and inspection certificates. VAKT is using a blockchain platform to bypass the paperwork and offer a more secure way of completing a commodities trade. Most importantly, the technology will reduce the …

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Unlocking Value with Blockchain in Oil & Gas

Summary Blockchain enables independent entities with shared pain points and related interests to form a consortium.  The typical objective is to improve operational performance by sharing trusted data with rapid visibility. What about blockchain in Oil & Gas? Starting in 2014, the oil & gas industry experienced volatile and challenging …

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Bitcoin (BTC)’s Present Value Compared to Oil, and the Future ⋆ ZyCrypto

Making comparison shows that the fate of bitcoin is likely going to be like that of oil, from all indications. Bitcoin is the number one cryptocurrency, which attracts a lot of attention and demand not just that it is digital money but that it offers freedom from financial hitches. Bitcoin …

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Bitcoin as big oil: the next environmental fight | Ethan Lou | Opinion

I make Bitcoin, and in a previous life, I covered the oil industry as a journalist. Increasingly, I’m realizing the two worlds are alike. Bitcoin is oil. And one day, Bitcoin will become big oil, and all who dabble in it will be reborn as enemies of the environmental movement, …

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Chevron, Total and Reliance join blockchain-based oil trading platform

Chevron, Total and Reliance Industries are backing a new digital platform for crude oil trading based on blockchain and launched late last year, joining a consortium of investors that includes BP, Royal Dutch Shell and Equinor as well as traders Gunvor, Mercuria and Koch Supply & Trading. Vakt is the …

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Oil behemoths join Shell and friends on energy trading blockchain

The centuries-old, paper-based trading process of the oil and gas industry was overhauled last year, courtesy of the blockchain and an industry consortium originally including Shell, BP, ABN Amro, ING, and Societe Generale. The industry platform, called VAKT, announced yesterday that a host of new petrochemical and oil giants – …

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More Oil Giants to Join Blockchain-Based Platform Vakt for Energy Commodity Trading

Chevron, one of largest American multinational energy corporations, and two other major energy companies have joined Vakt, a United Kingdom-based blockchain platform for energy commodity trading. Reuters reported on the development on Jan. 16. Along with Chevron, Total, a leading French multinational integrated oil and gas company, and major Indian …

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Chevron, Total and Reliance join oil blockchain platform Vakt

The logo of Dow Jones Industrial Average stock market index listed company Chevron (CVX) is seen in Los Angeles, California, United States, April 12, 2016. REUTERS/Lucy Nicholson/File Photo LONDON (Reuters) – Oil majors Chevron (CVX.N) and Total TOTP.PA, along with major Indian refiner Reliance Industries (RELI.NS), have joined the blockchain-based …

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Ziyen Inc. Software Division Launches Oil Blockchain News Website

SAN DIEGO, Jan. 10, 2019 (GLOBE NEWSWIRE) — Ziyen Inc., a Scottish American Oil and Intelligence Company, has launched a new international Oil and Gas Blockchain and Cryptocurrency News Website. OilBlockchain.News has been developed by the Scottish Software Division of Ziyen Inc., to become the leading international portal on how …

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