It just got serious here in Houston. Blockchain is real and it's the future as we see Chevron, ConocoPhillips, Equinor, ExxonMobil, Hess, Pioneer Natural Resources and Repsol partnering to establish a U.S. Blockchain Consortium for the oil and gas industry.
I agree that blockchain will equate to efficiencies for settlements and other back-office functions, but I am curious whether traders will be accepting of complete transparency. Will blockchain lower margins for those top traders who possess certain knowledge that others do not?
Creating the OOC Oil & Gas Blockchain Consortium is a significant step toward establishing key blockchain standards, frameworks and capabilities for the oil and gas industry