Coinspeak Technical and Fundamental Market Analysis
$BHP to use Ethereum and a custom Blockchain to track mining information.
BHP Billiton revealed at the second annual Global Blockchain Summit that it will use blockchain to record movements of wellbore rock and fluid samples and better secure the real-time data that is generated during delivery. According to BHP geophysicist R Tyler Smith, the new system will enable benefits for its internal efficiency while allowing it to work more effectively with partners.
“With blockchain, we would share data between the vendor and ourselves, and have a constant understanding of where it is,” Smith told CoinDesk, adding:
“Everything right now is being tracked through spreadsheets.”
BHP’s use case does not involve moving Ethereum for transferring monetary value. BHP’s use case is based on routing real time information using a combination public Blockchain and private Blockchain.
Because right now they are using fucking spreadsheets.
Blockchain is a revolutionary technology. An immutable, real time, public (or private) ledger opens new possibilities. Add in features like smart contracts, optional anonymity for transactions and zero Central Bank control and the fintech world has major changes ahead.
I, for one, welcome our new blockchain overlords.
