Consortium around the biggest oil industry players such as BP and Shell, joined forces to implement blockchain based solutions for the energy industry. The platform which will be deployed next year, will deal with: contracts, logistics, and accounting. Apart from BP and Shell, the consortium includes Gunvor, ABN AMRO, Koch, ING, Mercuria, and Societe Generale. The aim is to reduce paper-based work in the industry.
The digital currencies story is a continuation of the long-running saga of economics, markets, and commodity exchange in human society. With the constant rise of the global network, we have witnessed many global services becoming widely accepted and in a way changing (by adding to) our experience of mutual interaction.