Blockchain Blog

Everything from mineral rights to maintenance — blockchain technology can help improve the oil and gas. Given the size and complexity of the upstream oil and gas segment, let’s explore some specific use cases where the application of blockchain technology can increase efficiency, reduce waste, augment profit, and/or improve data management. We will discuss four overarching use cases — Reconciliation, Performance Based Contracts, Land Rights, and SupplyChain — as well as more specific examples within each. Reconciliation Use Cases for Upstream Oil & Gas

Blockchain represents an innovation in information registration and distribution that eliminates the need for a trusted party to facilitate digital relationships. This could be the next big tool for waste reduction and greater efficiency in our supply chains. Global Manufacturers are already investing in R&D for applications of  #blockchain. I believe that using Blockchain as a technology to develop seamless trust between suppliers, manufacturers, distributors and customers for all types of transactions that presently contain

”Smart-Contracts” are one very exciting use of Blockchain technologies.  One potential use-case is for Package delivery companies such as UPS, DHL and FedEx to execute smart-contracts as each delivery is made.  The smart-contract would say, ‘If I receive cash on delivery at this location in a developing, emerging market, then this other , many, many links up the supply chain, will trigger a supplier creating a new item since the existing item was just delivered