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Artificial Intelligence (AI)

Artificial Intelligence (AI) in the Oil Industry

The US Department of Energy (DOE) has awarded a $1.05 million grant to energy company ComEd, the University of Denver, Virginia Tech and software specialist BEM to create an energy internet that will enhance building energy management and benefits to occupants.  BEM will function as the developer of the blockchain-based ...
Data gumbo has been awarded the 2019 North America Technology Innovation Award by Frost & Sullivan for their development of a distributed ledger to serve as a consensus algorithm, with nodes based with each stakeholder to create a scalable and reliable model.  The blockchain platform was designed specifically for the...
Earlier this week, blockchain-based platform from Chinese Internet company, Tencent, provided infrastructure for a supply chain financing transaction with international banking group, Standard Chartered and joint venture Digital Guangdong.  This is the first time that the platform Linklogis has jointly delivered deep-tier supply chain financing with an international bank.  Today,...
Etherscan recommended as the best BlockExplorer to track the progress of ZiyenCoin Ziyen Inc., a leading oil and energy technology company, announced another milestone as the first digital tokens, ZiyenCoins, have been issued on the Ethereum blockchain. All transactions with ZiyenCoins are available to be tracked on Etherscan, which is viewed...
The consortium made up of some of the most influential companies globally has presented the white paper explaining exactly why and how blockchain has brought heavy weights from banking to oil in the likes of Shell, BP, Chevron, Total, Reliance Industries, Equinor, Gunvor, Mercuria and Koch Industries together for...
ENN, Energy Holdings Limited, one of the largest energy providers in China has turned to VeChainThor Blockchain to optimize quality control and supply-chain management to better serve the growing LNG Chinese market.  Currently ENN is operating in 187 cities that cover a population of 94.57 million in China.   The blockchain-based...
In a recent interview with Bloomberg  News, Data Gumbo CEO, Andrew Bruce discusses the need and adoption for the platform in the oil and gas industry.   He says “we are trying to make it into a blockchain utility right, so take it from being this big specialized installation saying that...
Houston based, Data Gumbo a leader in providing the oil and gas industry with Blockchain-as-a-Service (BaaS) for the streamlined process of Smart Contracts management specialized in industrial customers, has announced the hiring of Sergio A.Tuburquia as their new Chief Commercial Officer. The introduction comes after a $6 million Series...
Jerry Cuomo, Vice President of blockchain technology at IBM expressed exemplifies the integration of blockchain-based technology in the oil and gas industry for customer Vertrax. The problems that many consortiums is that in their maturing stages some of the biggest hurdles that have come about is standardizing where to...
Janet White, UK & Ireland’s oil and gas industry leader at IBM discussed the next wave of technologies that will influence the oil and gas industry beyond digitization. White says, “the upstream oil and gas sector is experiencing a time of unique change, with the need to increase production...