At the St. Petersburg International Economic Forum (SPIEF), Igor Sechin, head of Russian oil company, Rosneft, discusses the idea of using cryptocurrency to pay for oil in the future.
Briefing over the world influencers like Google, Apple, Amazon and Facebook taking interest in the oil and gas industry he foresees the likeliness of this being fully realized with stating:
“Greater flexibility often means greater volatility, and digitalization creates risks for maintaining commercial secrets and leads to the need to create new regulatory mechanisms, additional redundancy. Today, technology companies do not have quality answers to these fundamental questions, ”
Although there have been attempts at tokenizing assets such as the Petro in Venezuela, the regulations and transparency of the value have yet to be seen in a real way. Sechin also expressed his frustrations with the energy industry and international affairs saying, “energy had become the ‘first hostage’ of politics, and suggested that she ‘return to her former greatness'”
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