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Blockchain Technology

TABLE 11.2 (CONTINUED)

Major Pilot Programme Projects of Blockchain in the Oil and Gas Industry

(S&P Global Platts. 2018)

Continent

Country

Company/Project

Details

Britain, Italy,

Austria

Interbit

Interbit, as a next-generation blockchain

network, is capable of operating and

interconnecting thousands of blockchains on a

single server in a stable, confidential and

scalable manner.

Switzerland

Komgo S.A.

Komgo was introduced in late 2018 to automate

commodity market trading. Komgo is the

world’s first blockchain/distributed ledger

technology (DLT)-based network for the

financial trading of commodities.

North

America

Houston

S&P Global Platts

S&P Global Platts, the largest independent

supplier of knowledge and benchmark pricing

for the commodities and energy markets, uses

an encrypted blockchain network that allows

market participants to send with increasing

regularity oil storage data to FOIZ and the

regulator, FEDCom.

South

America

Chile

Energia Abierta

Energia Abierta is a blockchain project of the

National Energy Commission that consists of a

multi-functional Internet platform that has

been built to address a broad spectrum of

energy-related interests.

FIGURE 11.7  Implementing blockchain in petroleum and gas sector.