VAKT is a blockchain startup that processes post-trade transaction for the oil market, initially Brent crude. It’s owned by a combination of banks, oil majors and oil traders including Shell, BP, Chevron, Total, Reliance Industries, Equinor, Gunvor, Mercuria and Koch Industries. Perhaps with that combination of shareholders, it is not surprising that it processes more than
90% of post-trade transactions for Brent crude.
Not only did they successfully execute, but they also did it quickly. So when the company lays out how it got there, it’s worth paying attention. In the interests of sharing, last week, along with technology partner ThoughtWorks, VAKT published a document “
From PoC to Production: Implementing an enterprise blockchain solution.”
Why blockchain?
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