The consortium blockchain platform VAKT joined the oil company Chevron and Total, as well as major Indian oil refinery Reliance Industries.
As emphasized in the press release VAKT Global, Chevron, Total and Reliance join the list of early users of the platform as strategic investors.
The blockchain-an enterprise-level solution for oil and gas market, as positions the platform VAKT Global, aims to help companies to abandon paper document circulation and to automate the trade in raw products. VAKT was launched in November last year for the market of North sea oil — BFOET. In the nearest plans of the project to include operations in other markets physical delivery of petroleum products, including pipelines in the United States and tanker traffic in the North-Western Europe.
Initial investors platform to become the largest oil and gas companies BP and Royal Dutch Shell, and Norwegian Equinor, traders Mercuria Energy Group, Koch Supply & Trading, and also Gunvor Group, banks ABN Amro, ING and Societe Generale.
“Chevron joins the consortium VAKT to stay in the center of the development of technology and to help promote the industry in the space of the blockchain,” said President and chief Executive officer Chevron Supply and Trading Colin Parfitt (Colin Parfitt).
It is noteworthy that earlier, some participants blockchain VAKT consortium, including Shell, Mercuria, Koch Supply & Trading, Gunvor and ABN Amro became the founders of another DLT project in the field of trade Finance and commodity trading Komgo.
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