Unlocking the Potential of Blockchain in the Oil and Gas Industry

Blockchain technology has already made its impact on financial services. It now presents several significant opportunities in the oil and gas industry . Oil and gas companies with heavy transportation expenditure occurring from processes like freight audit and payment can drive substantial savings with blockchain.

Essentially, petroleum companies process thousands of freight transactions each day. However, reconciling freight invoicing against services with appropriate remittances proves to be laborious and costly for them.

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