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16 Jul, 2020 / Blockchain development

Primetime For a Blockchain in the Oil and Gas Industry?

Blockchain technology is currently applied in many industries. It can be potentially of great use in the oil and gas industry, especially in the aspect of management and decision making, trading and cybersecurity. This innovative technology is used in situations with large volume and frequency of transactions, when cross-border entities are involved, and when data from previous transactions is used for the next transaction or the following entity.