Unifying Oil and Gas Companies Through Blockchain

As more energy companies deploy blockchain systems within their work sites—creating a more profitable and unified workspace—those that don't could be left behind.

Data Gumbo's William Fox, Topl's Chris Georgen and OriginClear's Riggs Eckelberry explain how blockchain systems will benefit the oil and gas industry. (Source: Data Gumbo)

Operators and service providers in the oil and gas industry are constantly looking for technologies and systems to help them get a leg-up on their competitors. In some cases, however, investing in these technologies and systems couldn’t necessarily ensure that the company gets ahead, but rather keeps them from falling behind. As more companies employ blockchain systems in their worksites, it is quickly becoming a uniform requirement for those who don’t want to be left in the dust.

Blockchain technology is a system used to keeping companies organized by streamlining transactions, allowing them to keep their finances organized and protect against potentially dangerous hacks. In the oil and gas industry, it can help operators and service providers connect to keep information secure and improve their ESG scores.

To get a better idea of how blockchain systems can benefit the energy industry, Hart Energy spoke with representatives of some of the leading blockchain technology companies for this exclusive roundtable discussion, including William Fox, chief product officer at Data Gumbo; Chris Georgen, founder and chief architect at Topl; and Riggs Eckelberry, CEO of OriginClear.

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Madison Ratcliff

Madison Ratcliff is an associate editor for Hart Energy's editorial team.