IBM Partners with Abu Dhabi National Oil Company for Blockchain Supply Chain System

The Abu Dhabi National Oil Company (ADNOC) has successfully collaborated with IBM to pilot a blockchain supply chain system, according to an ADNOC press release published on Dec. 9.

The release notes that ADNOC — a state-owned oil company in the United Arab Emirates (UAE) — is reportedly among the world’s leading energy and petrochemical groups, with a daily output of about 3 million barrels of oil and 10.5 cubic feet of natural gas.

The pilot project has “provided a single platform that tracks the quantities and financial values of each bilateral transaction” between the involved companies autom