Natixis, IBM and Trafigura introduce first-ever Blockchain solution for U.S. crude oil market
Natixis, IBM and Trafigura have pioneered the first blockchain solution in commodity trade finance for US crude oil transactions. The distributed ledger platform, built on the Linux Foundation open source Hyperledger Fabric, allows major steps in a crude oil transaction to be digitized on the blockchain, ensuring improved transparency, enhanced security, and optimized efficiency.
IBM is the leader in secure open-source blockchain solutions built for the enterprise. As an early member of the Linux Foundation’s Hyperledger Project, IBM is dedicated to supporting the development of openly- governed blockchains. IBM has worked with more than 400 clients across financial services, supply chains, IoT, risk management, digital rights management and healthcare to implement blockchain applications delivered via the IBM Cloud.
For more information about IBM Blockchain, visit www.ibm.com/blockchain.
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. Trafigura sources, stores, transports and delivers a range of raw materials (including oil and refined products and metals and minerals) to clients around the world. The trading business is supported by industrial and financial assets, including 49.6 percent owned global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura's Mining Group; 50 percent owned DT Group which specializes in logistics and trading; and Galena Asset Management. The Company is owned by around 600 of its 4,100 employees who work in 61 offices in 36 countries around the world. Trafigura has achieved substantial growth over recent years, growing revenue from USD12 billion in 2003 to USD98.1 billion in 2016. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade. Visit: www.trafigura.com
IBM:
Holli Haswell
Director External Communications Industry Platforms
IBM
Office (720) 396-5485
Cell 512-680-0593
E-mail: hhaswell@us.ibm.com
Trafigura: Victoria DIX
Head of Media Relations | Corporate Affairs TRAFIGURA PTE LTD
Direct: +41 22 595 3397
New Mobile: +41 79 640 5456
E-mail: victoria.dix@trafigura.com
Press contacts
Sonia Dilouya
Press Relations, Natixis
+33 1 58 32 01 03
sonia.dilouya@natixis.com
press@communication.natixis.com
Vanessa Stephan
Press Relations, Natixis
+33 1 58 19 34 16
vanessa.stephan@natixis.com
press@communication.natixis.com
Daniel Wilson
Head of Press Relations and Social Media, Natixis
+33 1 58 19 10 40
daniel.wilson@natixis.com
press@communication.natixis.com