The Blockchain in Oil and Gas conference is a collaboration between the Energy Conference Network and Blockchain for Energy.
About Blockchain For Energy
Blockchain For Energy is a nonprofit collaborative organization comprised of industry experts from leading energy companies. We learn, lead and leverage blockchain technologies within the industry by bringing the right parties together and working collectively to agree new digital ways of working.
Our goal is to develop and implement innovative value-added solutions, modernizing the way we do business. By doing so, we optimize costs, increase efficiency and promote industry growth. Blockchain For Energy is a safe place to create transformational change, for the energy industry, by the energy industry.
See more: What is blockchain technology?
Who makes up the Blockchain for Energy Consortium?
- We are a member organization made up of industry experts
- We are a diverse group of people who foster industry inclusion and cooperation.
- We are a group of people driven to create change and reimagine how things are done in the energy industry.
- Our members want to be part of the change: they see value in growing the industry by working together
- We have women in leadership roles. Female leadership is imperative for the long-term energy business and transition. We promote and encourage a new participation of women in the digital space, creating a cultural shift in oil and gas
Why was the consortium (B4E) created and why should you care/join the audience?
The energy industry needs a new independent entity to govern it to bring about change and growth; that’s why industry experts created B4E
- We see the need for neutral, independent and non-denominational platforms
- We saw the need for an entity that would provide a safe place where members could have a say
- As commercial network operators, we need to influence how this works rather than let industry providers take the reins.
- We transform the energy industry through seamless business interactions powered by blockchain
What are the goals/objectives of Blockchain for Energy?
At B4E, we learn from, lead, and leverage blockchain technologies within the industry to improve operational efficiency through automation, standardized ways of working, and more seamless collaboration.
- We help others learn about blockchain through participating in projects and educating others about the benefits of employing blockchain technologies.
- We help others learn through Sandboxes and Learning Centers.
- We encourage communication with the appropriate stakeholders
- We lead the industry agreeing on Blockchain Governance
- We facilitate the development of common industry practices, providing a forum and process for discussion, guidance and feedback with operators, suppliers, regulators and researchers (academia) on blockchain within the energy industry.
- We are an Industry Business Network Operator
- We create Value-Adding Digital Industry Solutions
- Value and Use from Project
- Neutral, Independent, Not-for-Profit
We’re preparing the energy business for the future, and you need to think about it too.
- Fast returns and low margins are the current focus of the industry.
- B4E is a facilitator of industrial solutions.
- B4E is thinking, planning and acting in the long term. We do this without distracting companies from their immediate goals.
- We provide solutions to current problems and at the same time prepare for what comes next.
- Through research and testing, we are securing a digital future.
- We use blockchain technology to future-proof the industry.
- Oil and gas is the focus of the energy industry, B4E is part of the broader energy transition and members are using solutions.
Does your technology/solution reduce costs for B4E members? Does your technology/solution reduce the cost for the industry in general? How is that?
- Direct costs and indirect costs are realized.
- We reduce costs by transforming processes inside and outside your scope of control by including all business parties. We find the commonalities and the benefits for each party by offering a source of truth and getting an agreement in advance so that it can go digital.
- Blockchain application increases cost savings as more and more companies join the blockchain network.
Why use blockchain technologies in the industry? What potential benefits do you see?
- There are real-world and real-time applications for blockchain.
- Perfect path for our journey to move towards low carbon sustainability.
- Blockchain can be used as an industrial solution framework.
- We can take advantage of blockchain technology to maximize opportunities to reduce costs, improve deadlines and eliminate disputes in any process.
How can blockchain technologies advance the energy industry in the ESG space?
- B4E has identified several ESG areas where blockchain technologies can add value.
- B4E will get an agreement on which area the member companies will focus on.
- B4E is committed to the ESG journey by offering a safe place to bring together the right people and technologies; move the industry forward in a good way.
How does membership add value to the entire industry? What are member benefits?
- Participants have created neutral entity templates that work well for technology and oversight.
- Members have a say in what change is created while harvesting new words, without any heavy lifting.
- We are using blockchain technology to create platforms and tools to help the energy industry with corporate, social and environmental (ESG) governance.
- The B4E consortium is identifying and developing solution-based projects to test the technologies and they could work in the future.