A consortium including oil majors BP, Royal Dutch Shell and Statoil announced plans on Monday to develop an independent blockchain-based digital trading platform intended to modernize and transform post-transaction management of commodities trading. The investor group, which also includes trading giants Gunvor, Koch Supply & Trading and Mercuria plus banks ABN Amro, ING and Societe Generale, aims to launch the platform by the end of 2018, pending regulatory approval.
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