HashDrop offers exciting test case for blockchain in oil & gas

PB Blockchain Inc, a subsidiary of Pistol Bay Mining is one of the companies developing an exciting blockchain application named "HashDrop".

They’re looking towards blockchain as a technology that will make the application, in their own words; “secure, comprehensive and unalterable”

Their developing technology is important because oil and gas companies are notoriously slow to respond to compliance requirements while many also lack systems that will allow them to deliver information securely, and allow them to trade digital assets internally and externally both efficiently and safely.

We’re going to watch this one keenly as their focus on the adaptability of the system for use by various ‘internal’ departments and stakeholders will streamline and secure a previously complex process and speed up decision making.

In some cases, oil and gas companies are relatively slow when they have to respond to compliance, deliver information securely and efficiently, and to trade of digital assets safely.

You can click here and see how the framework of HashDrop will work.

Perhaps this new characteristic could become a point of reference for other companies in the space looking to improve their archaic systems to stay in the game..?