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Venezuela’s economic crisis is impossible to ignore. President Nicolás Maduro’s attempt to withdraw $1.2 billion of the country’s own gold from the Bank of England (BoE) has been rejected. The notion of a sovereign state being denied access to its own wealth is a concept that’s hard for bitcoiners to countenance. One thing is certain: the case … Read more
Multinational energy corporations Chevron, Total and Reliance Industries have joined blockchain-based platform Vakt for energy commodity trading Go to Source Powered by WPeMatico
Venezuelan President Nicolas Maduro has been tirelessly promoting the petro, ever since his administration announced the creation of what is now considered the first state-issued cryptocurrency. Although no one is really sure whether the coin actually works, Venezuelans have already seen their salaries denominated in the national crypto and their pensions converted to petro. Imposing … Read more
A blockchain system for oil and gas production has been successfully tested by a United Arab Emirates national company Go to Source Powered by WPeMatico
Oil industry blockchain platform VAKT counts BP, Shell among first users – says it plans major expansion from January Go to Source Powered by WPeMatico
The Russian branch of Raiffeisen Bank and major oil company Gazprom Neft have conducted a trade finance transaction via a blockchain-issued bank guarantee Go to Source Powered by WPeMatico
Vakt, an oil trading blockchain platform for energy commodity trading joined by BP, Shell and Equinor, will be ready to fully launch in 2019 Go to Source Powered by WPeMatico
Major global banks and industry players have launched a joint Swiss-based venture that will oversee a new blockchain-based platform for financing commodity trading Go to Source Powered by WPeMatico
As economic sanctions start to bite, Iran is now looking to cryptocurrencies to ease the damage. The world’s third-largest oil-producer seeks to follow in the footsteps of Venezuela, which has issued an oil-backed digital currency called the Petro. But can Iran succeed where Venezuela is ostensibly faltering? Also read: As Zimbabweans Struggle for Cash, Even the … Read more
An investigative report into Venezuela’s national oil-backed cryptocurrency, the Petro (PTR), has attempted to square government claims with facts on the ground Go to Source Powered by WPeMatico
