A large portion of the existing systems in oil & gas industry – exploration, production, and supply chain and logistics operations – are centralized, manual, and disintegrated, making them vulnerable to manipulation and single point of failure. Blockchain technology offers practical solutions in providing traceability, immutability, operational transparency, audit, security, and trusted provenance features.
Digitalisation is expected to have profound (‘transformative’) effects on the economy, society, and politics as well as on the planet itself.
This includes the production, use and disposal of hardware (Information and Communication Technologies equipment, data centres, data transmission networks) as well as of software, digital technologies, and applications – ranging from robotics, the Internet of Things (IoT), via distributed ledger technologies such as blockchain, to Artificial Intelligence (AI).
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