NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V:
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Posted On: 01/02/2018 6:36:14 PM
NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Moves to Cut Oil Trade Costs with Blockchain Service
Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) has teamed with First Bitcoin Capital Corp. (OTC: BITCF) to develop an enterprise service that will draw on the emerging promise of blockchain technology in reducing the transaction expenses related to doing business in the oil and gas exploration industry. Petroteq announced on Dec. 4 that it was joining the Enterprise Ethereum Alliance, the world’s largest open-source blockchain network. An article discussing this reads: “At present, oil is traded through a diverse network of producers, suppliers, contractors, subcontractors, refiners and retailers in such large volumes that tracking the movement of crude is a Sisyphean task. However, the new platform, by employing blockchain technology, will be able to represent physical supplies of crude by digital assets, which remain digitally attached throughout the supply chain journey. … The new platform, called PetroBloq (www.PetroBloq.com), offers the promise of improving efficiency, transparency and security in the oil and gas industry.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) has teamed with First Bitcoin Capital Corp. (OTC: BITCF) to develop an enterprise service that will draw on the emerging promise of blockchain technology in reducing the transaction expenses related to doing business in the oil and gas exploration industry. Petroteq announced on Dec. 4 that it was joining the Enterprise Ethereum Alliance, the world’s largest open-source blockchain network. An article discussing this reads: “At present, oil is traded through a diverse network of producers, suppliers, contractors, subcontractors, refiners and retailers in such large volumes that tracking the movement of crude is a Sisyphean task. However, the new platform, by employing blockchain technology, will be able to represent physical supplies of crude by digital assets, which remain digitally attached throughout the supply chain journey. … The new platform, called PetroBloq (www.PetroBloq.com), offers the promise of improving efficiency, transparency and security in the oil and gas industry.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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