Blockchain creates new energy trade finance opportunities

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In this week’s “Commodity in Chief,” Bloomberg’s Alix Steel talks with Anthony van Vliet, ING’s global head of trade and commodity finance. They discuss VAKT, the company which is looking to reimagine the commodity post-trade processing underpinned by blockchain.

VAKT is an independent company created and backed by some of the world’s premiere energy majors, commodity traders and banks. Of these, BP, Equinor, Shell, Gunvor and Mercuria have launched privately as VAKT’s first users. VAKT’s other backers include Koch Supply & Trading, ABN Amro, ING and Societe Generale.

 

This first appeared on Bloomberg.

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