• selling neighbors excess energy
    BlockCypher's Karen Hsu and her NREL colleagues want to plug your washing machine into your neighbor's house (Photo: NREL).
    Technology

    Light bulb moment: Neighbors selling neighbors excess energy on blockchain

    BlockCypher and the National Renewable Energy Laboratory have completed a trial program to see if blockchain can change the way households buy electricity

    May 21, 2020 /

    It’s an idyllic vision for the future: houses across the land generate their own power through solar panels, and make a tidy profit by selling neighbors their excess energy. Then reality kicks in. Executing all of these transactions at scale would be nothing short of nightmarish. Enter blockchain.

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  • Suadi Aramco has invested in North Sea oil post-trade settlement firm Vakt
    North Sea oil platform off Norway. (Photo: iStock)
    Technology

    Vakt wins backing of oil giant Saudi Aramco

    The world’s largest oil producer invested $5 million and plans to use Vakt’s blockchain-based post-trade settlement platform down the road

    January 28, 2020 /

    Saudi Aramaco subsidiary Aramco Trading Company joins firms like BP and Shell in using Vakt’s settlement platform for North Sea crude oil. Vakt plans to expand its platform to other oil markets.

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

    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

    January 16, 2019 /

    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.

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