BLOCKCHAIN OIL: Is this the end of the PetroDollar?
BLOCKCHAIN OIL
In the future, Trading of ALL Global Commodities will be carried out on the BLOCKCHAIN.
OIL will be no exception..!!
All Global Trading Transactions will in the future be entered onto a Digital Distributed Ledger and as OIL will be included in this Global Trading Revolution it is set to play a role in the end of the PetroDollar as we know it.
In the future all Oil Cargo Shipments will pass through Global Trade on a Decentralised Digital Ledger which will track the oil from the wellhead through to the refineries.
This Digital Transformation is set to play a small piece in the new Global Trade Agreements that are set to be ushered in soon.
Current Global Trade Systems and Agreements that were set up in the 1970's are both archaic and antiquated and have never been updated with the advent of the Internet.
This new form of Digitisation of Global Trade will have huge benefits in unlocking critical liquidity in the Markets.
SMART CONTRACTS
It is all about the birth and implementation of Smart Contracts that will track shipments of cargo as it passes through the System replacing the old fashioned "Paper" method..!!
These Smart Contracts will help with the flow of credit as Producers, Creditors, Banks, Shippers and Buyers will know exactly who owns what, when and where.
It is all about streamlining the passing of the Title through the System.
Will BLOCKCHAIN OIL see the end of the PetroDollar? It will for sure play a major role..!!
Thank you for reading and thanks once again for all your support.
Stephen
yo me pregunto si esto del blockchain va a desplazar a toda la mecánica que mantiene todo el status quo de la sociedad humana, esto podría dar paso a la entrada de energías limpias al mercado masivo, incluso los commodities deberían entonces ser otros. / / I also wonder if this blockchain is going to displace all the mechanics that maintains the whole status quo of human society, this could lead to the entry of clean energies into the mass market, even commodities should then be others.
BLOCKCHAIN is set to totally revolutionise the way humanity interacts. It will in the future sit aside the invention of electricity, the splitting of the atom, the breakthrough of DNA and the creation of the Internet. In fact I would go as far as to say that it will be BIGGER than all of these put together and will for the very first time in human existence stitch together the entire planet in all aspects of Trade, Finance, Democracy and Interaction. Thank you for the support. Stephen
Well we still have Drive in Movies, VHS videos and Light House keepers :)
NOT ;)
The Petrodollar will not succomb easily to the blockchain. If blockchain tech significantly improves accounting methods for the petroleum industry, they could still pay in dollars. Create a blockchain smart contract system based on the USD. The Russians or Chinese could do the same with their oil industry; create Petrorubles and Petroyuan. However, this is only for the big dogs. Remember what happened to Muammar Gaddafi and Sadam Hussein when they went against the Petrodollar.
The PetroDollar is "old hat" and was great for the 1970's before the advent of the Internet. BLOCKCHAIN will replace Global Trade Agreements in the future and eventually there will be a Derivatives Digital Currency that will replace the USD as the Global Reserve Currency. It's already starting to happen. Thank you for your support. Stephen
Are there any oil companies in active pursuit of blockchain integration?
Yes. Tests are currently being carried out and it won't be long before ALL oil is traded GLOBALLY is on the Blockchain. Stephen
Did you see the article that the Air Force is considering BCTechnology to secure nuclear weapons storage?
Just wondering , I would search the article but I am very busy atm, apologies...
If you cannot find it easily plz reply same and I will find the time 2 find it lol :)
hugz ;)
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Oh, yeah: the main "ordinary" killer app of the blockchain will be fraud-resistance, as fraud (including embezzlement) is a kind of applied censorship.
Oil is better for this than (say) gold or silver, because the latter two can be melted down and recast into new (though unregistered!) bars. Ya can't do that with oil.
That said, ordinary inspection procedures will still be necessary in order to avoid something like this:
http://www.businessinsider.com/the-great-salad-oil-scandal-of-1963-2013-11
Mister StephenKendal are you based ? visiting Japan? (I think I saw something that suggested you were overseas somewhere )
Just wondering and no problem, you name twiggs a grey memory cell is all... ???