SEND REQUEST

DO YOU HAVE ANY QUESTIONS?

LET'S DISCUSS! BOOK A CONSULTATION WITH OUR SPECIALIST

Scan the QR Code to add me on WeChat

Find me on WeChat

To give you the best possible experience, this site uses cookies. Using this site means you agree to our use of cookies. More information is available in the INN4SCIENCE LLC Privacy Policy. Learn More

I AGREE

INN4SCIENCE BLOG

INN4SCIENCE BLOG

News

Oil-Trading Blockchain-Based Platform Partners with First Users Shell and BP

blockchain oil trading

VAKT, a post-trade management software has developed a blockchain tool for crude oil producers and buyers. The application uses JPMorgan’s Quorum blockchain technology. Major oil industry players as Shell, BP, Gunvor, Mercuria and Equinor has become the first users of the VAKT platform.

The tool will be used as an addition to existing systems of energy giants. VAKT company plans to operate not only with oil but other physically traded energy commodities. Anyway, even with such major first clients, the project’s success will depend on widespread adoption of the ecosystem.

VAKT aims to improve the speed and security of the supply chain from producers and traders to the final buyer. Other benefits of blockchain such as decentralization, transparency, and information permanence suit perfectly most business models.

While the technology popularity is extremely high and it gets implemented in a number of industries, there is a great shortage of crypto specialists and experts in the field of integration in business processes. The high demand for blockchain experts demonstrates the trend of further crypto industry development and an increase in the number of successful projects.

Whether you consider the opportunities of blockchain for establishing a new breakthrough business or level-upping an existing one it’s a great tool to create an amazing project! You may find out about your idea realization feasibility by asking us.

DO YOU HAVE ANY QUESTIONS?

LET'S DISCUSS! BOOK A CONSULTATION WITH OUR SPECIALIST


was this article helpful?

(No Ratings Yet)

Add Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

0 COMMENTS