Shell & BP Are Now Selling Crude Oil on the Blockchain

Shell and BP are now using a blockchain-based trading platform for crude oil, which they hope will solve trade and settlement inefficiencies. Shell & BP Hope Blockchain Will Solve Inefficiencies Vakt is first to market of several pilot schemes which have been in development, which Bitcoinist reported on back in January 2018. It comes courtesy of a consortium of oil majors, global energy traders, and investment banks. These include BP, Shell, Mercuria Energy Group, ABN Amro, … Continue reading Shell & BP Are Now Selling Crude Oil on the Blockchain