Oil Trading May Into Blockchain Technology

9개월 전

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Ever think of what would happen if oil trading adopts blockchain technology. Just now I find these article helpful for that doubt. To eliminate the paper work that is around the oil and gas trading for better efficiency in transaction, they are going to use blockchain technology for being less time for a transaction. This could increase the efficiency upto 30 - 40% , which may seen a bit low. But when you compare that with the realworld time to buy commodity it takes much more time than you think.

So overall to decrease the time taken to do the work and less the paperwork needed the more the efficiency will be.

You can check the whole article for extra indepth information from original source of the article below,

https://oilprice.com/Energy/Energy-General/Blockchain-Changes-Face-Of-Oil-Trading.html

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