to collect all the data.

But the real crux is what you actually do with the data.

So the analytics part is critical.

And at the end of the day, what you do in trading

is forecasting, so predictive analytics.

We've always been in the predictive analytics.

We used human brain power in the past.

But clearly, more and more, you're

using technology to help you to make better decisions,

to do more predictive analytics, and at the end of the day,

make better trading decisions.

On the upstream front, (there have been) complete changes in the way you

drill for oil.

When we drill today in Argentina, for instance,

we send the core sample to Houston for analysis,

and we get a lot more information

that was ever available before.

We know where to drill and how to drill more efficiently.

The other part is what is happening

in the world of artificial intelligence.

We've got a lot more internal data through these systems.

We have a lot more external data through these systems.

We've got a very large increase in computer processing

capabilities, and obviously, the development of

algorithms to identify different patterns.

We are looking at that.

We have a certain team within house

which is then looking at certain specific ideas

that we have in this area.

And I can see this being quite an important part

of the trading mix.

We ran a test last year where we had a physical oil cargo going

from Africa to China.

And we've run the regular system with the paperwork,

the bill of lading, and so on and so forth,

and we did a parallel blockchain.

And the regular documents needed 40 days to get to destination.

Well, actually, the blockchain contract

managed to essentially conclude the same transaction

from beginning to the end in four days.

That will have a major impact on funding requirement

for a trading company and undoubtedly lower

the costs for the industry and make it more efficient.

VAKT is being set up to create a blockchain-based digital

platform that will really modernise the post-trade

completion of the commodities energy trading industry.

We're going to start in a few select markets

with the goal of bringing something to operation

by the end of this year.

From there, it can be scaled globally from 2019 and beyond.