Shell and British Petroleum to create blockchain platform

Shell, British Petroleum, Statoil, ING, ABN Amro, Societe Generale, Gunvor and other big companies joined forces to develop blockchain trading platform
07 November 2017   824

A number of big energy corporation joined together on a new blockchain-based trading platform. This is reported by the Coindesk.

BP, Shell and Statoil are developing the platform, which represents the latest application of the tech to the energy space. The group of firms gathered around the platform also includes ING, ABN Amro and Societe Generale, as well as trading firms, Gunvor, Koch Supply & Trading, and Mercuria.

Main idea of a new product - blockchain-based platform for energy trading, that will be open to all market members. Participants of new solution development say that it will be managed by a new independent entity, and it will be fully launched before the end of 2018. 

Earlier this year another joint initiative among some members of the consortium (ING, Mercuria, and Societe Generale) presented compelling results with what we understand to be the first blockchain prototype test in the sector. The experiment involved an oil cargo shipment containing African crude oil which was on its way to China. The results of the experiment demonstrated that a blockchain based platform can greatly improve the efficiency of certain processes.

Carolien van der Giessen

With several of the world's largest energy suppliers taking part, this platform can really the one, which will involve market participants of all sizes.


Binance to Spread Crypto Fiat Wings

The list of upcoming jurisdictions was found by the Block
18 January 2019   62

The Block has gained access to the list of jurisdictions in which the largest cryptocurrency exchange Binance intends to launch fiat trading platforms. The latter use technology Binance, but will be separate legal entities.

Alleged Binance New Operation Jurisdictions
Alleged Binance New Operation Jurisdictions

In 2019, the exchange allegedly intends to launch full-scale activities in Malta and in Singapore. At the same time, South Korea, Liechtenstein, Russia, Turkey and Argentina are in the plans.

Note that in October last year, such a platform appeared in Uganda, and just a few days ago - on the island of Jersey.