Cryptocurrencies Will Be Used One Day To Pay For The Barrels Of Oil, CEO of Russian Energy Declares

Igor Sechin said the industry’s acceptance and awareness of digital assets is beginning to rise as Silicon Valley tech giants including Google, Amazon and Apple begin to discover the gas and oil sector, as the awareness in on the rise.

Cryptocurrencies have piqued the interest of Google, Apple and Amazon, as they begin to discover the gas and oil sector. Look like the awareness of digital assets is on the rise among the Silicon Valley tech moguls. Igor Sechin has warned about the obstacles that crypto needs to overcome, while also mentioning the stablecoin Facebook is in the process of developing crypto that one day could be used to purchase oil by the barrel. Sechin was a guest speaker at St. Petersburg International Economic Forum and he the said: “Greater flexibility often means greater volatility, and digitalization creates risks for maintaining commercial secrets and leads to the need to create new regulatory mechanisms, additional reservations. Today, technology companies do not have quality answers to these fundamental questions.”

Last November, oil moguls joined large banks to introduce a blockchain-driven platform for commodity trading, that is more focused on helping industry players transition from paperwork to smart contracts.

In the past oil and cryptocurrencies have been linked with Venezuela’s Nicolas Maduro issuing a coin known as the Petro, which was supposedly tied to the nation’s reserves of commodities including oil, diamonds and gold.