VAKT Global Ltd

VAKT Global Ltd makes software for physical commodity trading, mainly oil. Its platform keeps one shared record of each trade, so the buyer and seller work from the same confirmed terms. The company was set up by a group of nine energy companies and banks.

Services

• vSure: replaces paper contracts with digital confirmation of trade terms, reducing errors and disputes.
• vLogistics: links trading systems, terminals and inspectors, and supports nominations with automation tools.
• vActuals: collects quantity, quality, time log and document data at source and records it on a blockchain.
• AI data extraction: pulls relevant details out of unstructured files and emails.

Who it works with

The platform is aimed at oil and commodity traders, energy firms, banks, terminals and inspectors involved in the trade lifecycle.

Key facts

• Technology: blockchain used for the shared trade record
• Origin: developed with nine energy companies and banks
• Focus: the full physical trade lifecycle, not one narrow step