Upstream Oil and Gas Project Financing using Oil-Backed Cryptocurrency
نویسندگان
چکیده مقاله:
In recent few years, some endogenous and exogenous barriers caused different challenges in oil and gas project financing. Since appearance and development of innovative ideas such as DLT and blockchain in financial business models, this methods are replacing with traditional models. A blockchain is a decentralized, distributed and oftentimes public, digital ledger consisting of records called blocks that is used to record transactions across many computers so that any involved block cannot be altered retroactively, without the alteration of all subsequent blocks. By storing data across its peer to peer network, the blockchain eliminates a number of risks that come with data being held centrally. This idea has resolved the problems face economic firms in financing methods. Some international companies had issued oil – backed cryptocurrency for financing oil and gas upstream projects. This paper focused on financing Iranian oil and gas upstream projects by using oil – backed cryptocurrency in the form of conventional contract models. As the result, using this method will improve conventional oil and gas contracts fiscal regimes’ efficiency.
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عنوان ژورنال
دوره 23 شماره 2
صفحات 7- 45
تاریخ انتشار 2020-09
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