Because it would probably take more energy than the oil itself contains
this post was submitted on 19 Mar 2026
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Ethereum NFTs use a microscopic amount of energy, it's a proof of stake blockchain.
"By utilizing state of the art decentralized cryptographic data science, we can bypass bottlenecks in the natural resource supply chain. Nonfungible tokenized oil coins can break developing economies free from bad actors in the free market." - Some douchebag right now probably.
One of the original goals of crypto is to create an alternative to the USD. AKA the cornerstone of the "petrodollar". And the primary funding mechanism of US imperialism.
Great, to read this I may as well go back to Reddit.
I drink your slurp juice, I drink it up!
Oil is fungible, so Oilcoin would make more sense than a non-fungible token. It might be tricky to figure out a way to transport physical fuel over the blockchain, but annoying details like that are what vibecoding is for.
Isn't that pretty much a goal one of those tech guys has?
Looking it up now.... Will update
I'm lost and don't follow this stuff, but how would this fix anything?