Another major blockchain adventure is getting a lift as/ oil majors Chevron (NYSE: CVX ) and Total (NYSE: TOT), alongside real Indian refiner Reliance Industries, join London-based stage Vakt. Rather than a pile of printed material, Vakt digitizes and brings together load post-exchange forms.
The firm was made in 2017 by a consortium that incorporates BP, Royal Dutch Shell (RDS.A, RDS.B), Norway's
Vakt, already in use by other major trading firms since the end of last year, is the first of many blockchain pilot schemes for commodities trading to go live.
The firm was created in 2017 by a consortium that includes oil majors BP and Royal Dutch Shell, Norway’s Equinor, global energy trading firms Mercuria Energy Group and Koch Supply and Trading, as well as Gunvor Group