US Homeland Security Taps Canadian Blockchain Firm to Track Oil Imports
DHS has hired Mavennet to track oil imports into the U.S. by retrofitting existing tracking technology with blockchain.
Energy experts say incumbents are complacent about the dominance of the U.S. dollar in oil markets while China and Russia may try to force change.
“I don’t think any asset is safe right now – except cash, U.S. dollars.”
Demand for gold is skyrocketing and the clamor for scarce assets in a remote-first world was precisely where bitcoin was supposed to shine. But it's complicated.
For skeptics and traditional market investors, bitcoin is synonymous with extreme bouts of price volatility. However, in recent times, oil has become a relatively risky asset.
Oil-giant subsidiary Saudi Aramco Energy Ventures has made a $5 million investment in Vakt, a commodities post-trade processing platform built with blockchain tech.