Oman an Arab Country, that explores oil and enriches oil. Its economy depends on oil and gas production or exploration. Now seems to be shifting towards new blockchain technology. As HSBC made a new oil trade transaction in Blockchain using R3’s Corda.

Sadiq al Lawati, from Oman Oil and Orpic Group, said: “This Blockchain pilot is an important station in our journey towards digitisation, a journey that started with Artificial Intelligence (RPA++) and continues to embrace new disruptive technologies.”

CEO of HSBC Oman, Andrew Long, said that “Completing the first blockchain trade finance transaction is yet another significant milestone in our journey in Oman as it breaks new ground in pushing forward digital technologies in Oman’s financial sector,”.