What is Matrix AI Network?

“Matrix AI Network is a platform which incorporates blockchain and AI to enable the realization of the Intelligent Blockchain. The use of AI allows innovations such as natural-language smart contracts (Intelligent Contracts), continual network optimization, formal contract security verification, and much much more. — Matrix AI Network”

Matrix’s technology is currently being used by a plethora top tier entities in a verity of fields such as clinical diagnosis, data analytics, image detection, and structural modeling among many other areas of utilization.

“PetroChina is among the first Chinese enterprises to invest in OBOR countries and has made progress in 49 cooperation programs with 19 countries, including Russia and various countries in the Middle East, Asia Pacific, and Central Asia. By the end of 2015, PetroChina’s investment in OBOR countries comprised 60% of its total overseas investments.”¹

What is PetroChina?

“PetroChina is China’s largest oil and gas producer and supplier. It is also one of the world’s major oilfield service providers and a globally reputed contractor in engineering construction, with businesses covering petroleum exploration & production, natural gas & pipelines, refining & marketing, oilfield services, engineering construction, petroleum equipment manufacturing and new energy development, as well as capital management, finance and insurance services. In 2017, PetroChina ranked third in the overall ranking of the world’s 50 major oil companies, whilst also ranking fourth in the Fortune Global 500.

PetroChina currently has oil and gas assets and interests in more than 30 countries in Africa, Central Asia-Russia, America, the Middle East, Asia-Pacific, and other regions.”²

Wikipedia’s top 50 largest companies by revenue list shows PetroChina as the third biggest company (in revenue) at $326 million dollars, dwarfing Exxon Mobil who ranked ninth with $244 million.

Unsurprisingly, PetroChina is one of the largest companies in China.

How will PetroChina utilize Matrix’s technology?

Last month, Matrix AI Networked announced the creation of its MBC project. “The MBC project focuses on four areas of collaboration: Artificial Intelligence, Blockchain, DApps and Enterprise Resource Planning Systems. Its goal is to build an intelligent global freight shipping application platform integrating big data information processing, smart contracts, DApps, financial services and payment systems on the Matrix blockchain. The goal of the project is to upgrade and improve the current global shipping industry information systems via AI and blockchain technologies by automating and streamlining much of the supply chain.”³

“ As the only international shipping intelligent trading platform servicing the dry bulk market, the MBC Project is committed to solving problems that have plagued the industry for over a century. “The MBC platform integrates traditional dry bulk market international shipping with internet services, while combining artificial intelligence and the latest in blockchain technology to optimize incumbent shipping practices, open new financial channels and reduce shipping costs while increasing success metrics for all global shipping participants.”

Furthermore, “Matrix’s MBC project will exist in the Matrix ecosystem as a sidechain. Development will include a Payment Settlement System, Financial Service System and Transaction Matching System. Leveraging the Matrix AI Network’s expertise in both blockchain and AI, shipping industry bottlenecks will be shattered.”⁴

Fun Fact: Did you know the Beijing Haitong Company is also using Matrix’s MBC platform? See here for more details.

Closing Thoughts

While blockchain projects often boast partnerships, strong marketing campaigns, and technology, very few are actually able to translate this to adoption. The true value proposition of Matrix can be seen through their technology, team, and adoption. These qualities are truly something very few projects can boast…