Oil

The oil & gas firms leveraging blockchain are in a position to increase trade accuracy, improve scheduling and back-office efficiency, improve operational efficiency, increase access to trade info, and lessen the working capital cycle.

If you ever thought only gold, diamond, or oil were found underneath the ground, you might be wrong in the 21st Century world as recent cases of bitcoin mining have proved that crypto mines equally do well underground. Chinese police have discovered an illegal Bitcoin mining farm beneath a cemetery.

Venezuela has been pressing different knobs to find the right answer to save its struggling crypto, the Petro.

Thailand has been very supportive of the development and application of blockchain technology in recent years. Its Energy Ministry is now launching fresh research to ascertain the use of blockchain technology in its palm oil sector.

It is indisputable, the dollar is considered the “global currency” due to its wide usage in global savings, trading key commodities such as oil and issuance and settlement of debts. This might not be the case anymore with the massive disruptions brought about by digital currencies.

Dynamics within the global energy markets could define the future of Bitcoin and other cryptocurrencies, not specifically in terms of Demand and Supply. There are ongoing wars within the oil industry largely orchestrated by the fightings between major oil producing countries.