The bureaucratic regimes in the oil industry has made the cost of entry for newbies over the ceiling, even for individuals and groups with revolutionary ideas. This has made the oil industry for a select few, centralizing oil wealth in the hands of a small pool of wealthy individuals. Also there are issues of opaqueness in transactions and dealings in the oil industry making it one sector susceptible to large scale corruption. However, with the advent of blockchain technology that’s about to change.
With individuals and most organized groups pushing for decentralization in the workplace and most sectors of our economy, the oil industry is not left out from the hammer of decentralization.
We’ve seen what blockchain technology can be used to achieve in the finance sector. The bullish movement we have seen in 2017 of bitcoin and other cryptocurrencies class goes to tell the peoples’ desire for a decentralized systems and economy.
The question before those whom have longed desire to enter into the oil industry is, can blockchain technology be used to disrupt and decentralize the oil industry such as we’ve seen in finance sector?
REVOIL thinks blockchain technology can be used to achieve in the oil sector what it has been used to achieve in the finance sector. In the their whitepaper it explains their reasons for thinking so; it explain thus with their AIRVENTO TGT, it would be able
to gather shale oil 10x more efficiently in a profitable and eco-friendly manner; and BLOCKCHAIN
to make the industry transparent, enabling everyone to have access to production and performance data, and also be able to partake in profit sharing.
This idea makes sense to me and timely, considering,
- Climate change,
- Large scale corruption in the oil industry for decades now, and
- Lack of transparency in the sector.
REVOIL also boast of a pool of oil technocrats and dedicated team to achieve this revolutionary project in the oil industry.
Visit http://revoil.io/ to learn more
Here also is link to their ANN Thread https://bitcointalk.org/index.php?topic=2410217.0
Here is my BTT: https://bitcointalk.org/index.php?action=profile;u=1101187
NOTE: Remember this is not an investment advice, do your own due diligence before investing in anything. Thanks