NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V:

NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Planning to Accept Cryptocurrency Payments for Oil Products and Equity

Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF), a company focused on the development and implementation of proprietary technologies for the energy industry, this morning announced that it is developing the ability to accept cryptocurrency for both the sale of its oil products and equity. “In January CNBC ran a piece on how more and more high-end real estate transactions are being handled using cryptocurrency. This is because cryptocurrency and blockchain technologies possess some of the same features ESCROW accounts are used for to assure that funds and assets transfer smoothly and fairly,” Alex Blyumkin, CEO of Petroteq, stated in the news release. “We are developing a method to bring this same transaction security to our oil transactions.” The company also announced plans to set up an e-wallet in order to accept cryptocurrency, initially limited to bitcoin or ether, for the purchase of newly-issued Petroteq securities.

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