Inside the New Blockchain Energy Trading Platform

The video discusses the introduction of a blockchain-based platform by ING in 2017, aimed at streamlining transactions in the oil trading industry. The platform, which involves banks, oil companies, and trading houses, seeks to reduce paperwork, speed up processes, and lower operational risks. Challenges include market adoption and legal issues, but the potential for cost savings and efficiency gains is significant. The platform's success depends on widespread adoption, including non-shareholder users, and integration with additional services like insurance and logistics.

What is the significance of having a single version of the truth in a distributed ledger?

How can the integration of additional services accelerate the growth of blockchain platforms?

What types of markets and industries are likely to adopt blockchain technology more quickly?