Transform oil and gas supply chains with blockchain
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.
Blockchain fuels innovation in the oil and gas supply chain
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.
Solutions
Blockchain for industries
Industry leaders are using IBM Blockchain to remove friction, build trust and unlock new value. Select your segment to see how.
- Supply chain
- Healthcare
- Government
- Retail and consumer goods
- Media and entertainment
- Telecommunications
- Insurance
- Manufacturing
- Banking and financial services
- Travel and transportation (PDF, 340 KB)
- Automotive (PDF, 222 KB)