The future of oil in blockchain

This is the conclusion reached by OPEC.
Of course, we agree with this opinion, because we are confident that new technologies, such as blockchain and big data, will play an increasing role in the oil and gas sector. However, let’s see why the Organization of petroleum exporting countries thinks so.

The study published by OPEC says that the complexity of processes, including those related to the delivery of fuel from remote wells to consumers, especially urban ones, requires the use of high technologies, including in the field of blockchain, as well as big data processing.

The document also provides an example of the work of oil refineries associated with a lot of information. Thus, any enterprise has many characteristics of petroleum products at different stages of processing, energy consumption and personnel activities. And before the introduction of new technologies, this data could not be processed and used properly. But, now it can be done by the blockchain.