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Is Blockchain’s Future in Oil and Gas Transformative or Transient?

Is Blockchain’s Future in Oil and Gas Transformative or Transient?

Posted By: Mark Koeppen, David Shrier, and Morgan Bazilian.

Distributed ledger technology, commonly known as blockchain, has its roots in the online currency Bitcoin. But blockchain is growing beyond its currency origins, making inroads into the financial services and tech industries toward improvements in operations and finance.

Is blockchain ready for prime time in the oil and gas industry? Is it hype—or a genuine agent of change? The jury is out. Some executives recognize its potential for reshaping their business. Others express concern about disruption, unsure if the future benefits will outweigh the risk and investment demands of being a first mover.

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