Shell in cooperation with Sinochem Energy Technology Co Ltd could launch a joint blockchain platform in the foreseeable future, reports Reuters citing a source familiar with the matter.
According to the source, Shell and Macquarie have signed a memorandum of understanding (MoU) back in July to build a decentralized platform for crude oil.
Both corporations are also agreed to explore the possibility of investing in the upcoming blockchain service.
At press time, Shell and Macquarie declined to comment on the development.
Earlier iHodl reported that the group of world-known oil corporations, among which Chevron, ConocoPhillips, Equinor, ExxonMobil, Hess, Pioneer Natural Resources and Repsol entered into a partnership to create the very first industry oil-focused blockchain consortium in the United States.
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