• A pump jack in a canola field (via Shutterstock)

    With Vakt investment, five of the biggest energy companies bet on blockchain

    The oil and gas industry is embracing blockchain technology for everything from tracking products to financing sales

    With the announcement on Jan. 16 that three major oil and gas firms including Chevron, Total, and Reliance Industries have joined Vakt, the energy-industry enterprise blockchain company now has five of the 10 largest oil firms by market capitalization on board.

  • Geothermal powerplant in Iceland.

    Iceland may hit a milestone in 2018 because of bitcoin

    Miners love cheap electricity and Icelanders know a thing or two about volatility

    A remote nation with a small population, shaky politics, a hard left government, and economic turmoil in its recent past is finding that mining is taking up a huge chunk of one of its biggest resources. Sound familiar? No, not Venezuela or Congo or let’s face it, too much of the developing world. Nope, we’re talking Iceland, the country that gave the world… um… Bjork. Yeah, that’s one big export. Let’s see… What else… whale meat? C’mon. Work with us here. Anyway, the natural resource we’re talking about is geothermal-generated electricity and they’re used for mining bitcoin. According to a U.K.-based news site Metro, 2018 may see more Icelandic electricity…