NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V:

NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Engages Blockchain Engineering Firm to Advance Development of PetroBLOQ Applications

Fully integrated oil and gas company Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) this morning announced that it has engaged MetzOhanian, a software engineering firm based in Austin, Texas, to develop blockchain applications for PetroBLOQ. Per the update, MetzOhanian specializes in blockchain engineering, supply chain management software development and digital security consulting. The firm will be working with PetroBLOQ to develop blockchain applications aimed at improving supply chain transparency and efficiency within the oil and gas sector. “While we believe we are in the early days of blockchain application in the energy industry, the potential for PetroBLOQ’s blockchain principles to create a technology consortia’s for remediation, and reclamation projects is equally as compelling,” David Sealock, CEO of Petroteq, stated in the news release. “We anticipate that as interest grows in leveraging Petroteq’s proprietary technology for surface oil sands mining, the remediation and cleaning of contaminated sites and oil waste reclamation will come to the forefront. We expect that the integration of technologies provides the possibility of creating long term investments in the profit potential of something as game changing as blockchain.”

Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer