Shell, BP Among Energy Giants to Back Blockchain Trading Platform

MoonIsBlue

full member

Activity: 406

Merit: 111

Quote from: tyz on November 07, 2017, 04:24:09 AM

Several major energy firms are partnering on a new blockchain-based trading platform. BP, Shell and Statoil are backing the platform, which represents the latest application of the tech to the energy space. The consortium of firms built around the platform also includes ING, ABN Amro and Societe Generale, as well as trading firms, Gunvor, Koch Supply & Trading, and Mercuria.
The idea is that the blockchain-powered platform for energy trading will eventually be open to all market participants. Those involved in the effort say it will controlled by an independent entity, with a plan to be fully operational before the end of 2018.

Any sources for this? I know ING but I haven't heard anything from them on this matter.

FrueGreads

legendary

Activity: 1582

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As usual, news about blockchain integration keep piling up from all areas. Of course that some of them are not necessarily new, and companies are just trying to explore the hype around the technology. But it's good to have some attention to the blockchain, because it sends the message that the use of blockchain is a necessary evolution, and that is exactly what bitcoin did, when it comes to money.

Of course that some are still forgetting that the blockchain can, and in most cases, should be used in a decentralized way. I would find that trading platform much more interesting if it was decentralized and not controlled by an independent entity.

tyz

legendary

Activity: 3360

Merit: 1533

Several major energy firms are partnering on a new blockchain-based trading platform. BP, Shell and Statoil are backing the platform, which represents the latest application of the tech to the energy space. The consortium of firms built around the platform also includes ING, ABN Amro and Societe Generale, as well as trading firms, Gunvor, Koch Supply & Trading, and Mercuria.
The idea is that the blockchain-powered platform for energy trading will eventually be open to all market participants. Those involved in the effort say it will controlled by an independent entity, with a plan to be fully operational before the end of 2018.

Topic: Shell, BP Among Energy Giants to Back Blockchain Trading Platform (Read 211 times)