Supply chain relationships in the oil and gas industry are truly global in reach and complexity. Each participant in a supply chain must maintain their own records, updating their transactions and systems, which must then be reconciled with other participants in the network. Doing this with speed, complete transaction visibility, and reduced overhead is made possible by blockchain.
Seeing your specific challenges, we’ve assembled a white paper on how blockchain can help transform supply chain networks in the oil, gas, and chemicals industries — and how blockchain can enable immutable, transparent, and auditable business transactions among participants and suppliers, distributors, and partners.
Because all transactions are shared and transparent, the cash cycle can be greatly accelerated. Near real-time and automated measurements can mean faster cash collection.
A ledger that is shared across network partners and indelible means that tampering, fraud, and cyber-crime are much more difficult. Blockchain helps build trust.
The time-consuming, manual reconciliation process is susceptible to errors or manipulation. Eliminating that inefficiency cuts costs that would drain the bottom line.
To help prevent supply chain disruptions in the transportation of bulk oil and gas, Vertrax has launched the first multi-cloud blockchain solution built on IBM Blockchain Platform and deployed on AWS. The solution delivers flexibility, collaboration and speed-to-market.
Read: Ignite success on any cloud (629 KB)
The distributed ledger platform, built on the Linux Foundation open source Hyperledger Fabric, means that major steps in a crude oil transaction can be digitized on the blockchain — ensuring improved transparency, enhanced security, and optimized efficiency.
Blockchain-based solutions, built on SAP S/4 HANA and enhanced with cognition, provide a single, permission-based, shareable ledger to deliver visibility, clarity, and efficiency for daily transactions.
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Blockchain is a shared, immutable ledger for recording transactions, tracking assets and building trust. Discover why businesses worldwide are adopting it.
Find out how innovators are transforming their businesses through use cases built on the IBM Blockchain Platform.
Forward-thinking enterprises are embracing blockchain to bring revolutionary trust and transparency to supply chains, global trade, and international payments.
We’ll help you find new ways to uncover hidden efficiencies, promote better execution and delivery, integrate emerging technologies and discover new opportunities.
Studies, thought leadership, and webinars to help you learn more about blockchain and get the most out of your blockchain investment.
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