S&P Global Platts has started the deployment of its Fujairah Oil Industry Zone Blockchain network, bringing the ‘first’ DLT implementation to the energy sector.
Venezuela launched Petro pre-sale. What is the economic nature and implications of the world’s first government-issued cryptocurrency?
Petro, the oil-backed cryptocurrency planned by Venezuela’s president, is “a new act of fraud”, according to a member of the country’s parliament.
Russia could consider using cryptocurrencies to trade oil.
Bitcoin mining of just one coin burns a lot of crude oil.
Several countries in the biggest oil producing regions in the world are moving to adopt Blockchain technology in their operations as of mid-2017.
Every country needs US dollars if it wants to buy crude oil. This may soon change as a market selling crude oil for Bitcoin has emerged.
The global macroeconomic picture is sending out a message and that is one of deflationary forces starting to take hold.