Oil giant Shell getting into blockchain

Shell is looking to setup a team specialized in blockchain solutions. These blockchain analysts, who are specialized in mathematics, artificial intelligence and computer science, would be part of their IT graduate program. It’s not clear when the program would officially start, but the company is no longer accepting applications.

Even though Shell would be exploring an utility for blockchain technology into the gas and oil industry, it’s not yet clear on what front this would be. Think about the registering drilled oil onto the blockchain, making its distribution and actual production more insightful and perhaps more efficient.

Shell isn’t the first oil company in the world to get into blockchain technology. Shell, BP and Equinor backed a blockchain platform that would modernize their ‘post-trade processes’. Instead of using orthodox paperwork, these companies want to make their trades more efficient.

Last month Chevron and Exxon-Mobil also agreed to join a consortium, aimed at investigating the potential of blockchain. That’s already five major oil companies that have expressed their interest into blockchain technology in the past three months.

Oil companies aren’t the oil ones interested in exploring the ways blockchain tech can help their business. Basically every major company in the Forbes 500 list is investigating the benefit of this upcoming technology. Starbucks, Microsoft, Sony, Western Union, and Mastercard.

Originally published at NEDEROB.