OPEC Will Explore Blockchain Capabilities to Optimize Supply Chain

The Organization of the Petroleum Exporting Countries, OPEC, has announced that its second energy and information technology workshop will be held via video conference on September 21. At this year's event, blockchain technology will be included in the list of discussed topics related to energy and technology.

According to OPEC Secretary General Mohammad Sanusi Barkindo, the organization is interested in optimizing aspects such as the supply chain. It is already known that blockchain technology has been able to improve supply chain efficiency in a growing range of industries, from tracking coffee beans to transparency in the downstream sector and improving the efficiency of global transport.

The oil industry is likely to be next in line to have its supply chain logistics transformed by blockchain. Other topics to be discussed at the event: the future of blue hydrogen, digitalization in the energy industry and cybersecurity.

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