Tom Lyons interviewed Vikram Seth about Shell’s involvement in blockchain. Although it’s not typical to associate Shell with blockchain, the company has had a blockchain team since 2016 and is one of the earlier energy companies involved in the space. Shell has been a founding member of the Energy Web Foundation and has convened various blockchain initiatives in the energy sector.

Initially, Shell’s focus was on using blockchain to improve existing processes and enter new markets. Now their focus is on exploring new business models in the age of Web3, NFTs, the Metaverse, and DeFi. The company is particularly interested in how blockchain can be used to address issues in the energy transition to a lower-carbon and sustainable energy system.

Shell is also working on specific projects related to sustainability, such as the Avelia platform to accelerate the adoption of sustainable aviation fuel and the Falcon platform for industrial supply chain management. They have also collaborated with Gitcoin on regenerative finance initiatives.

In terms of the Ethereum ecosystem, Vikram Seth highlights the importance of recent developments such as the switch to a proof-of-stake consensus mechanism and the increasing enterprise shift from private to public blockchains. He believes that the use of public blockchains is essential for delivering traceability, trust, and transparency at scale.

Overall, Shell is committed to leveraging blockchain and Web3 technologies for global sustainable development. They are focused on using DeFi, cryptocurrency, and NFTs in projects aimed at sustainable and regenerative development.