Cosco Shipping Energy Transportation and China Merchants Energy Shipping (CMES) are envisaging a future of blockchain-based oil trading where vessel chartering can be carried out in a much more efficient way.
The two Chinese state-owned tanker giants have teamed up with Sinochem Energy Hi-Tech, PetroChina International, Bank of China, China Construction Bank and Macquarie to publish an 89-page white paper on the application of blockchain in energy and petrochemical transactions.
