Eight new “economies” enabled by digital technologies have been on the rise. These have yet to make much of an impact on oil and gas, but they are coming.
How might blockchain technology solve one of the most frustrating and costly problems of the digital oil and gas industry? The sector builds new assets constantly, but engineering documents and systems that are supposed to accurately depict as built asset do not, leading to substantial costs and waste for the oil and gas asset owner. Blockchain could be a solution.
You’ve no doubt heard about bitcoin, a cyber currency based on a technology called blockchain? Well, there’s so much more to blockchain than currency, and it will eventually have a pretty dramatic impact on aspects of oil and gas. Curious? Read on.