Digital transformation is here, and traditional industries are now adapting new technologies in order to meet the digital future. As such, it shouldn’t come as a surprise that the trillion dollar oil and gas industry has quietly started to leverage blockchain technology for business success.

Douglas Heintzman, chief catalyst at the Blockchain Research Institute, told Cointelegraph that the oil and gas sector is particularly ripe for blockchain development due to its uniquely positioned supply chain: “There are many participants in downstream and upstream operations within the oil and gas industry.” He added further: