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Blockchain in Oil and Gas Industry
Shell are leaders in this area. Blockchain initiatives can attract oil and gas companies
because of their substantial variations. Blockchain technology implementation in the
petroleum and gas industry will reduce transaction expenses and enhance account
ability. It is expected that the network will shift into a more sophisticated blockchain
and cross-connect with other blockchains, resulting in an enhanced hybrid consen
sus mechanism and even architecture to make it simpler to handle. Based on the fact
that so many major players have already taken the lead in this sector, we can reason
ably conclude that it’s here to stay.
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