According to Cointelegraph, Kaspersky's blockchain security team leader Pavel Pokrovsky said that blockchain is an attractive option for oil companies looking to simplify their structure through distributed ledger technology. Blockchain and distributed ledger technologies will have a huge impact on many aspects of industrial technology, including oil and gas. According to some research, more than 40% of executives in the oil and gas industry are considering blockchain technology. Blockchain smart contracts are particularly useful for oil and gas. This allows the industry to manage contract risks and minimize costs and increase transparency in the supply chain.