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Ripple Criticized for Alleged Misrepresentation of Relationship to XRP

News Ripple Labs, the administrator of blockchain payments network Ripple, has come under criticism for allegedly misleading representations that it “discovered” — rather than created — the XRP token. In a series of heated tweets on Oct. 9, Coinmetrics.io co-founder and Castle Island Ventures part..

Australian Startup to Offer 20% Payback on Fuel Purchases in Tokens

News Australian startup Incent plans to offer a 20% payback in its INCNT token on fuel purchases at United Petrol stations for a limited time. Incent announced in a press release published on Sept. 26 that participants will have to sign up on its platform and sync their bank accounts in order to ..

Oil Giants Hire Blockchain Startup to Manage Water in Bakken Fields

News A consortium of oil companies including Exxon Mobil, Chevron and Royal Dutch Shell looks to blockchain to manage water used in oil extraction in North Dakota’s Bakken oil fields. Oil and waterAs Reuters reported on Sept. 10, the Offshore Operators Committee (OOC) Oil & Gas Blockchain Consorti..

Report: Shell and Sinochem Discuss Blockchain Platform for Crude Oil

News A subsidiary of Chinese oil and chemical giant Sinochem Group is reportedly in discussions regarding a blockchain platform with Royal Dutch Shell and Australian financial services firm Macquarie Group. As Reuters reported on Sept. 5, sources familiar with the matter said that Sinochem Energy ..

Water Management Firm to Use Data Gumbo’s Services for Efficiency

News Austin-based Antelope Water Management has announced that it is going to start using a blockchain platform developed by Data Gumbo. The announcement appeared in a press release on Aug. 15. Antelope Water Management is a company that develops sustainability-focused water services for oil and ..

Standard Chartered Makes Letter of Credit Transaction Using Blockchain

London-based bank and financial services firm Standard Chartered has completed its first cross-border blockchain letter of credit transaction in the oil industry with Thai state-owned oil giant PTT Group. On-chain letter of creditStandard Chartered announced that it has successfully executed a pilot..

Oil Markets Could Save 30% With Blockchain, Data Gumbo CEO Says

News Global oil operators can save at least 30% by using blockchain in their infrastructure, according to data by blockchain startup Data Gumbo. Andrew Bruce, CEO of American blockchain startup Data Gumbo, discussed blockchain-powered automated contract execution in the oil industry on Bloomberg C..

Bitcoin Mining Helps Oil Companies Reduce Carbon Footprint

Natural gas acquired as a byproduct of oil extraction has become synonymous with wasted energy. In certain areas, drilling companies are unable to find a profitable market for the excess fuel. It’s often vented into the atmosphere. Startups are now offering on-site systems that utilize the surplus t..

Venezuelan Petro Against US Sanctions: History and Use of the Crypto

In depth For the entirety of cryptocurrency’s short history, Venezuela has been seen to be among the most striking example of the need for the utility. The South American country has hosted escalating political tension for years, as skyrocketing hyperinflation, electricity blackouts and shortages ..

Bitcoin Beats Traditional Financial Market Investments On ROI

The monumental performance of bitcoin in 2019 has not gone unnoticed by those who invest in traditional assets. BTC has outperformed pretty much all of the other financial investment options on the table by a massive margin. BITCOIN BEATS OIL, GOLD, STOCKS Despite its little downturn recently, bitc..

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