Shell’s blockchain strategy is founded on three distinct pillars. We are leveraging blockchain technology to reimagine current processes, deliver cost savings, increase efficiencies and drive standardization across our processes and, indeed, across the entire energy industry. We will find new value propositions, particularly in emerging or rapidly evolving markets, by reimagining the operation of end-to-end value chains based on blockchain technology. Additionally, blockchain technology is making it possible to create completely new markets.
As an early adopter of this technology we aspire to use blockchain technology:
- to establish trust and security amongst peers;
- to assert the state or ownership change of digital assets by recording all transactions on the blockchain.
Shell continues to support and initiate the creation of decentralised ecosystems. As the emphasis shifts from private/consortium networks to public networks for enterprise use, we will continue our efforts to push the boundaries of blockchain in the energy industry.