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  • 15-03-21

    Saudi Aramco to become world’s leading digitalized energy company

    (MENAFN)Arab News quoted a company official as saying that Saudi oil giant Aramco is improving with plans to turn into the world’s leading digitalized energy company by leveraging innovative technologies to develop competence, safety.

    The company is applying blockchain technology to regulate business processes to boost competence and decrease costs. Blockchain incomes include cybersecurity, data resilience, privacy, quality and fraud diminution.

    Arab News quoted a spokesperson as stating that “Aramco is investing significant amounts in blockchain technology and is working closely with its business partners to encourage and prepare them for adopting the technology. Aramco deployed its corporate blockchain platform in partnership with IBM, which enables Aramco to scale up its blockchain solutions.”

    Aramco invested in two blockchain platforms: Data Gumbo and VAKT. These support in the management and mechanization of new deals and invoices, aiding to remove the need for paper-based processes.

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