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Oil Majors, Traders and Banks Team Up on Blockchain Platform
LAGOS (CAPITAL Markets in Africa) – A group headed by some of the world’s biggest oil producers, trading houses and trade finance banks will develop a blockchain-based digital platform to manage physical commodity transactions. The group’s members, including producers BP Plc, Royal Dutch Shell Plc andStatoil ASA; trading houses Gunvor Group Ltd., Mercuria Energy Group Ltd. and Koch Supply & Trading; and banks ABN Amro Group NV, Societe Generale SA andING Groep NV, will form an independent venture to develop and operate the platform,…
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