With blockchain you can

Reduce cash cycle time

Increase transaction visibility

Reduce overhead & number of cost intermediates

Applying blockchain to customs declarations

Keeping your own customs records – shipper, export broker, transportation, import customs or auditor – can be inefficient, expensive and increase vulnerability. This whiteboard video demonstrates, using an example of customs declaration from Poughkeepsie to Singapore, how to apply blockchain technology to ensure the integrity of asset transfer across your supply chain.

Benefits of blockchain adoption

Blockchain can help transform oil and gas industry supply chain networks

Blockchain enables immutable, transparent and auditable business transactions among participants and suppliers, distributors and partners.

Natixis, IBM, Trafigura: First blockchain solution for US crude oil market

The distributed ledger platform, built on the Linux Foundation open source Hyperledger Fabric, allows major steps in a crude oil transaction to be digitized on the blockchain, ensuring improved transparency, enhanced security, and optimized efficiency.

IBM and SAP: Transforming how businesses interact in complex joint ventures

Blockchain-based solutions, built on SAP S/4 HANA and enhanced with cognition, provide a single, permission-based, shareable ledger that provide visibility, clarity and efficiency for daily transactions.

Speak with an IBM Oil and Gas expert