US Customs and Border Guard, a federal agency of the US Department of Homeland Security, intends to track Canada’s oil and natural gas imports using blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details technology.
Blockchain oil and gas imports tracking
“The Science and Technology Directorate of the Department of Homeland Security (DHS) allocated $182,700 to Mavennet Systems, from Toronto, to introduce blockchain technology for the oil and gas industry and to track oil imports.” The Department of Homeland Security official website said.
As cryptocurrency news reports, Mavennet will create a blockchain platform that will allow the customs authority to check the oil and natural gas markets in Canada in real time.
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- Canada is the fourth largest oil producer in the world, the United States imported 3.5 million barrels of crude oil per day from Canada in 2018, accounting for 96% of all Canadian crude oil exports.
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