The oil and gas industry operates in regions across the globe: upstream, midstream, and downstream, making the supply chain relationship complex. Supply chains also rely highly on third-party companies to provide services ranging from exploration and production to refining, transportation, and distribution.You can start your trading career at http://bitalphaai.de.
Blockchain technology has been heralded as a way for organizations to digitize supply chain relationships. It can address current challenges in the oil and gas industry of trust by providing an immutable audit trail that supports transparency across the supply chain network. Blockchain is attractive because it allows for peer-to-peer transactions without requiring a central authority or broker whose role would be to reconcile records among participants in the network.
Blockchain is also attractive because it can be a cost-cutter to an industry desperate to lower its costs. For example, blockchain can help organizations...
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