Oil-Trading Blockchain Platform VAKT Launches With Shell, BP as First Users

Post trade management platform VAKT has launched its blockchain-based processing tool to an initial group of crude oil industry clients, a press release reports Nov. 29.

VAKT, which uses JPMorgan’s Quorum blockchain technology to run, has rolled out to BFOET crude participants. The press release reports that energy giants BP (LON:BP), Equinor, Shell (LON:RDSa), Gunvor and Mercuria are participating as the platform’s first users.

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