China Exports Gasoline Using Blockchain In Unprecedented Move

China’s Sinochem Energy Technology Co. Ltd., a subsidiary of state-owned multinational conglomerate Sinochem Corp., has successfully completed the shipment of gasoline from China’s Quanzhou City to Singapore using blockchain technology. According to Sinochecm, this marks “the first time that blockchain applications have been applied to all key participants in the commodity trading process.” However, the company points out its first blockchain shipment was carried out in Dec.

Schlumberger Limited NYSESLB, Chesapeake Energy Corp. Pioneer Natural Resources NYSEPXD, Hess Corp. NYSEHES, Equinor ASA NYSEEQNR Repsol S.A. OTCQXREPYY, Worley Ltd. and Katalyst Data Management. In its mission statement, the consortium suggests it will severely disrupt the oil and gas industry.

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