Reliance Industries Ltd.

Reliance Industries (RIL), Chevron and Total have joined London-based oil blockchain platform Vakt. Vakt is the first of many blockchain pilot schemes for commodities trading to go live. Blockchain is viewed by many as a solution to trade and settlement inefficiencies, as well as a way to improve transparency and reduce the risk of fraud.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.