Mercuria Chief: Blockchain Could Cut Oil Market Costs By 30%
The chief executive of Mercuria, one of the world’s largest commodities traders, is bullish on blockchain.
Venezuela is hoping the world's oil markets will start using its controversial national cryptocurrency, the petro.
Energy markets data provider S&P Global Platts has announced the commercial deployment of a blockchain network for sharing oil inventories.
Venezuela's President Maduro has said the nation will sidestep the dollar and use its controversial petro token for oil sales next year.
Venezuelan President Nicolas Maduro has proposed "joint cryptocurrency mechanism" for use by OPEC members and non-member oil producing states.
Dutch bank ING's ethereum-based oil trading pilot is opening up to new financial institutions.