bitpetro on Nostr: #MBL or meter by lightning is a system for settling oil and gas transactions via the ...
#MBL or meter by lightning is a system for settling oil and gas transactions via the Bitcoin Lightning Network.
The oil and gas industry is a complex and dynamic sector that involves the production, transportation, and sale of energy commodities. The industry operates across a global network of suppliers, producers, distributors, and customers, and relies heavily on an efficient and accurate financial settlement to maintain stability and growth. With the advent of Bitcoin and Layer 2 payment networks like the lightning network, there is an opportunity to revolutionize the way financial settlements are processed in the oil and gas industry.
Enabling energy companies to settle transactions more frequently, based on real-time sensor data, reduces counterparty risk and the need for collateral. Combined with the reduction in overhead costs from automating legacy and piecemeal settlement processes, MBL can help lower data error risks associated with manual accounting and settlement of hydrocarbons.
#bitcoin #energy #oilandgas #lightningnetwork
Published at
2023-03-02 20:37:25Event JSON
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"content": "#MBL or meter by lightning is a system for settling oil and gas transactions via the Bitcoin Lightning Network.\n\nThe oil and gas industry is a complex and dynamic sector that involves the production, transportation, and sale of energy commodities. The industry operates across a global network of suppliers, producers, distributors, and customers, and relies heavily on an efficient and accurate financial settlement to maintain stability and growth. With the advent of Bitcoin and Layer 2 payment networks like the lightning network, there is an opportunity to revolutionize the way financial settlements are processed in the oil and gas industry.\n\nEnabling energy companies to settle transactions more frequently, based on real-time sensor data, reduces counterparty risk and the need for collateral. Combined with the reduction in overhead costs from automating legacy and piecemeal settlement processes, MBL can help lower data error risks associated with manual accounting and settlement of hydrocarbons. \n\n\n\n#bitcoin #energy #oilandgas #lightningnetwork \n\nhttps://nostr.build/i/nostr.build_bed46db4f27fb22ef84574452b09ea65b6eed17370b3e5e22f0514e26d498572.png",
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