European Banking Giants Plot Blockchain Trading of Liquid Natural Gas
ING and Societe Generale, a Dutch and French bank respectively are reportedly in talks with global commodities traders to test trading of liquefied natural gas on a blockchain enabled with smart contracts. After successfully trialing crude oil cargo trade on a blockchain last month, the two European banks are now looking to enhance the trading process of liquefied natural gas (LNG). According to a Reuters report, the two banks have already spoken to several players in the LNG trading market about testing a deal on a blockchain ‘within months’. LNG is natural gas converted to its liquid....
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