One of the most prominent blockchain oil and gas use cases is the digitization process of crude oil transactions. In reality, crude oil is an economically mature commodity market at the moment. However, only a small number of companies tend to produce crude oil for trading. More so, these happened in remote locations that need transportation. Almost 80% of the world’s crude oil transactions happen via the waterway.

With blockchain, this process can finally get the transaction it needs. For example, with blockchain, this transaction will get more security and efficiency. Also, as transparency will improve, you can easily track the process from the platform.