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"Blockchain: Not just for banks" ("Neft Rossii" magazine, issue 1-2, January-February 2018)

"Blockchain: Not just for banks"

Read about blockchain opportunities in oil & gas.

Anton Oussov

Partner, Global Oil and Gas Leader; Head of Audit

KPMG in Russia and the CIS


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The blockchain technology emerged almost 10 years ago, but for a long time only so-called cryptoenthusiasts demonstrated any interest in it. However, recently blockchain underwent an incredible popularity boost, and the first sector to start considering it as a useful tool for large business was the banking sector. Today oil & gas is also starting to explore blockchain opportunities, which can apply to a number of scenarios, e.g. in fuel retailing. Among them are blockchain implementation in loyalty programmes, electronic trading facilities, contracting jobbers, and controlling the supply chain.

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