Traditional industries have begun to adapt new technologies for a digital future. This is the age of digital transformation. 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: