Major Oil Firms Employ Blockchain to Utilize Water Resource

Major Oil Firms Employ Blockchain to Utilize Water Resource

The Offshore Operators Committee (OOC, which consist of oil companies Exxon Mobil, Chevron and Royal Dutch Shell) has decided to rope in blockchain startup Data Gumbo to manage water used in oil extraction in North Dakota’s Bakken oil fields. The blockchain will be used in payment automation and to manage and synchronize wastewater data. It is estimated that it can help to save up to 25% on costs related to the disposal of salt water.

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