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Energy majors adopt block chain platform for their trading.

With block chain systems making inroads into the major knowledge bases and in Big Data handling, the block chain trading platform Vakt has become a sought after trading entity. Vakt was created in 2017, by oil and energy majors such as British Petroleum, Dutch Shell and Norway's Equinor.

Subsequently, a number of other major players in the power and energy business joined hands with them in creating a strong Block Chain platform. While Gunvor group, Mercuria Energy and Koch Supply and Trading joined the company last year, more companies joined them this New Year. Reliance from India, Chevron and Total have joined them apart from banks such as ABN Amro, Societe Generale and ING.

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