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   488

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.


Qvolta is launching its platform

Qvolta announced its platform release date of April 2 that will feature a full-fledged version of a web platform
24 March 2018   38

Qvolta platform has set its release date to April 2. The release is in accordance with the roadmap of the platform and will include a fully functional version of the web platform. The developers team is currently performing various tests and making final amendments to ensure the proper functionality. This desktop client is in alpha stage. A mobile app for secure authorizations is out and it is the native solution for security without intermediaries.

Qvolta is a P2P exchange platform solution that focuses on the capability of trading Bitcoin and Ethereum for fiat currencies and vice versa. And such functionality is provided through local payment methods. Since centralized exchanges become the target of serious scrutiny of regulators, cryptocurrency platforms that allow trading P2P or in fully decentralized fashion are getting more necessary.

As of the moment of the publication, the market parameters of Qvolta are as follows:

Average price: $0.390836

Market cap: $2,712,466

Volume (24h): $6,171