Could blockchain technology help stabilize oil prices?

As the price of oil remains in the high-$40, low-$50 range, every cog in the oil industry is scrambling to reduce costs and streamline sales.

The oil industry has long been a leader in the adoption of different technologies. But, despite advancements made in recent years, even pushing breakeven costs to record lows, the industry is widely ignoring one of the most important developments of the century. Blockchain technology.

Blockchain tech – the “Buzzword of 2017” describing the “Internet in the 1990s” – is seeping into every major industry that it touches.