Oil, Natural Gas, and Blockchain

Research Overview

Author: Mohamed El-Masri
Release Date: June 19, 2020

Abstract:

In this case study, the founder and CEO of a blockchain start-up explains his company’s vision for the future of the energy industry, changing how exploration and production companies raise capital and how investors and consumers participate in energy markets. The solution consists of a Hyperledger Fabric blockchain explorer, decentralized cloud storage, and an Ethereum-based platform that supports two ERC-20 tokens—one a security token and the other a utility token—plus an idea for powering bitcoin mining rigs that could provide an upstream source of revenue for oil and gas operators. It’s the kind of fresh thinking that this industry needs!

 

Copyright 2020 Blockchain Research Institute ™ – not for distribution

Fullscreen Mode

Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Oil Natural Gas on the Blockchain

Related Content

State of Enterprise Blockchain: A Mid-Year Review

This project reports on the state of the enterprise blockchain space. It begins with commentary on the state of the world writ large—from the pandemic’s effects on the economy and the global need for vaccinations to the K-shaped recovery and the consequences of helicopter money (e.g., inflation). It covers a series of developments relevant to enterprise users: the price volatility of cryptocurrencies, the shortcomings of consensus mechanisms for enterprise needs, the growth of stablecoins, the status of tokenless blockchains and blockchain-as-a-service offerings, and the latest on central bank digital currencies (e.g., China’s digital currency electronic payment initiative). It concludes with a summary of implementation challenges that enterprise applications must overcome to gain traction. It’s time for blockchain innovators to address enterprise leaders’ tough questions about use cases, regulation, criminal usage, and environmental harm.

Read More

Can Blockchain Help with Gun Registries

Countries with universal background checks and gun registries experience significantly fewer gun-related deaths. As a highly encrypted, tamper-resistant, and decentralized database, distributed ledger technology has the potential to serve as a distributed registry of guns. DLT could allow gun buyers to prove a lack of a criminal record (the equivalent of a background check) without giving up personal information. This survey of the blockchain landscape highlights several start-ups such as VeriTransfer and BitRail that are experimenting with DLT to do for firearms provenance what other blockchain innovators have done with food, cannabis, and pharmaceuticals without impeding the rights of legitimate gun owners.

Read More
BRI Europe