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ETH/USD $ 1796.60
LTC/USD $ 92.39
DASH/USD $ 44.41
DOGE/USD $ 0.07324
FIL/USD $ 4.45
ADA/USD $ 0.3676
USDT/USD $ 1.00
SHIB/USD $ 0.00000866
HOLO/USD $ 0.003566
BTT/USD $ 0.00000060
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YFI/USD $ 6739.04
PAXG/USD $ 1995.93
MKR/USD $ 630.44
BCH/USD $ 117.30
WBTC/USD $ 26739.6
COMP/USD $ 35.00
AAVE/USD $ 62.48
ZEC/USD $ 33.10
ICP/USD $ 5.19
TRB/USD $ 11.87
ETC/USD $ 18.36
NMR/USD $ 13.50
BAL/USD $ 5.42
LINK/USD $ 6.62
REP/USD $ 6.88
UNI/USD $ 5.15
ATOM/USD $ 10.78
UMA/USD $ 2.12
SNX/USD $ 2.18
SUSHI/USD $ 0.8944
BAND/USD $ 1.47
EOS/USD $ 0.8928
OMG/USD $ 0.8033
RLC/USD $ 1.56
MIR/USD $ 0.05600
BNT/USD $ 0.4149
XTZ/USD $ 0.8899
CGLD/USD $ 1.74
1INCH/USD $ 0.4109
CRV/USD $ 0.8177
KNC/USD $ 0.6039
ENJ/USD $ 0.3523
MATIC/USD $ 0.8601
STORJ/USD $ 0.3080
ZRX/USD $ 0.2240
ALGO/USD $ 0.1679
GRT/USD $ 0.1221
OGN/USD $ 0.09479
CTSI/USD $ 0.1985
MANA/USD $ 0.5062
BAT/USD $ 0.2212
DAI/USD $ 1.00
USDC/USD $ 0.9998
REN/USD $ 0.07770
XLM/USD $ 0.08778
NKN/USD $ 0.09859
OXT/USD $ 0.06790
LRC/USD $ 0.2967
SKL/USD $ 0.03220
CVC/USD $ 0.08861
SAND/USD $ 0.5290
NU/USD $ 0.1500
GNT/USD $ 0.00000001
DNT/USD $ 0.02720
ANKR/USD $ 0.02588
LOOM/USD $ 0.05156
AMP/USD $ 0.002960
MANY/USD $ 0.3509
WTK/USD $ 0.02170
POSI/USD $ 0.02355
WINR/USD $ 0.00003100
DEFT/USD $ 0.00002080
ISA/USD $ 0.0001070
RULER/USD $ 0.006669
SPORE/USD $ 0.9137
DEFLCT/USD $ 0.7343
HVE/USD $ 0.0004395
JCB/USD $ 0.00004900
FWC/USD $ 0.00000000008000
FDC/USD $ 0.00000021
YETI/USD $ 0.003856
SMR/USD $ 0.06492
new@eBitcoinics.com 11 Dec, 2018 news.eBitcoinics.com Views: 359
The Abu Dhabi National Oil Company (ADNOC) has reported on its successful participation with IBM in a pilot project for the development of a blockchain oil and gas tracking system. This according to a press release published by the company on its official website last Sunday, December 9.
It is an innovative system that will form a secure blockchain platform. With this, the oil company will be able to track, validate and execute the transactions in each of the stages of crude processing; that is, from its extraction from the well to its arrival to the client.
The project was announced by ADNOC's Digital Unit Manager, Abdul Nasser Al Mughairbi, during the World Energy Capital Assembly that took place in London. In the event, they shared the achievements and ambitions of the company with their measure to implement the blockchain and other technologies, among which Artificial Intelligence is also included.
ADNOC aims to "improve operational efficiency, boost profitability and unlock the new value of oil and gas resources to take advantage of the opportunities created by Oil and Gas 4.0".
The manager has expressed his faith in the project:
"We believe that this could be Blockchain's first application in accounting for oil and gas production anywhere in the world. It demonstrates how ADNOC is taking advantage of innovative partnerships to unleash the power of technology and creative thinking to improve efficiency and deliver greater performance. "
Al Mughairbi also highlighted the benefits of using the chain of blocks in his company:
"It will substantially reduce our operating costs by eliminating time-consuming and labor-intensive processes, strengthen the commercialization and trade of our products and create long-term sustainable value that will ensure that ADNOC complies with its Smart Growth 2030 strategy."
With this pilot project, ADNOC seems to have taken an important leap in terms of the financial field, being able to "irrefutably trace, each oil molecule, its value, from the good to the customer". This implementation represents a new alternative to reinvent the hydrocarbon value chain, and brings the company closer to the one already planned Vision 2030.
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