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Petroteq Energy Subsidiary, Petrobloq, Announces Membership in Hyperledger
Petroteq Energy Subsidiary, Petrobloq, Announces Membership in Hyperledger.
About this update from First Bitcoin Capital Corp.
[{"type":"text","content":"\n\n LOS ANGELES, CA, Dec. 20, 2017 (GLOBE NEWSWIRE) -- Petroteq Energy Inc. (the “Company”) (TSXV:PQE; OTCQX: PQEFF; Frankfurt:A2DYWC), a company focused on the development and implementation of proprietary technologies, today announces that its subsidiary, PetroBLOQ, has become the latest member to join Hyperledger, an open source collaboration to advance cross-industry blockchain technologies. PetroBLOQ’s novel blockchain-based oil and gas supply chain management platform is being co-developed with First Bitcoin Capital Corp. (OTC: BITCF).\n Hyperledger is a global consortium including leaders in finance, banking, IoT, supply chain, manufacturing and technology. Over 180 diverse organizations support this open source collaboration, hosted by the Linux Foundation. “We are excited to be part of the Hyperledger community of industry leaders and technology experts,” said Alex Blyumkin, CEO of Petroteq Energy. “As pioneers in the development of blockchain applications for the oil and gas energy, PetroBLOQ is excited to contribute to the Hyperledger collaboration.” “We are pleased to welcome PetroBLOQ to the Hyperledger family,” said Brian Behlendorf, Executive Director of Hyperledger. “We are constantly seeking diverse industry and thought leaders to join our efforts to advance enterprise grade, open source distributed ledger frameworks to support an increasing variety of critical applications.” About PetroBLOQ PetroBLOQ is a collaboration formed by Petroteq Energy, Inc. and First Bitcoin Capital Corp. to develop the first supply chain management platform based on advanced blockchain technology for the global transaction needs of the oil and gas industry. About Petroteq Energy, Inc. Petroteq Energy is engaged in the development and implementation of its proprietary environmentally friendly heavy oil processing and extraction technologies. Our proprietary process produces zero greenhouse gas, zero waste and requires no high temperatures. Petroteq is currently focused on developing its oil sands resources and expanding production capacity at its Asphalt Ridge heavy oil extraction facility located near Vernal, Utah. The company also owns a minority stake in an exploration and production play located in southwest Texas held by Accord G...