Shell ramps up its stock prices by investing in Applied Blockchain

Major financial outlets report about the investment of Shell into a startup that plans to develop blockchain technologies and smart contracts-based solutions. This has increased the stock price of Shell since the time of initial reports in January 19.

As the CTO of Shell Global Solutions International tells, blockchain can help the vast oil company to develop faster supply chains, efficiently control the whole business and optimize it. Applied Blockchain’s CEO, in turn, expresses his enthusiasm about this cooperation as well.

Shell now has a minority stake in this company which already collaborates with banks and even aerospace-related firms, tells <the website related to the news on oil companies and related business news.

The rise of Shell stocks reminds how the market is interested in fintech and blockchain. Another peculiar event that comes to mind is, of course, the renaming of Long Island Tea into Long Blockchain. However, in this case the firm Shell invested in looks promising, as it’s already gained trust of other vast and careful corporations.