First Bitcoin Capital Corp Awarded $500,000 Contract to Develop Blockchain-Powered Supply Chain Management App
November 08 2017 - 9:18AM
Access Wire
TEL AVIV, ISRAEL / ACCESSWIRE / November 8, 2017
/ First Bitcoin Capital Corp. (the "Company") (OTC PINK:
BITCF) (COIN: BITCF), a global developer of industry-specific
blockchain powered applications, today announces that Petroteq
Energy, Inc. (TSX-V: PQE) (OTCQX: PQEFF) (FRA: MW4A) has awarded a
$500,000 contract to the Company to develop and demonstrate to the
oil and gas industry a blockchain-powered supply chain management
platform, www.PetroBLOQ.com.
The contract from Petroteq, a company focused on the development
and implementation of proprietary technologies for the
environmentally safe extraction of heavy oils from oil sands, oil
shale deposits, and shallow oil deposits, enables First Bitcoin
Capital to create a platform that will serve as a one-stop shop to
provide oil and gas companies the ability to customize their own
distributed ledger modules to enhance their business
operations.
"Blockchain technology has the potential to change not only the
oil and gas sector but also other areas of the global business
world, leading to improved and optimized efficiency of the
end-to-end business transaction processes," said First Bitcoin CEO
Greg Rubin.
First Bitcoin Capital has chosen the Hyperledger blockchain, a
product developed by the Linux Foundation-led open-source
cross-industry collaborative Hyperledger Project, as the core
technology for the platform for Petroteq to be used for real-time
supply chain management. The Company will also build for Petroteq a
smart contract system prototype on a blockchain to improve the
efficiency of oil and gas supply chain management interactions.
Taking advantage of distributed ledgers, the two companies will be
exploring ways to optimize and monitor the supply chain logistics
on the blockchain to automate oil and gas industry
transactions.
"We have begun a journey with First Bitcoin Capital to exploit
the potential of this new technology. We are very pleased with the
cooperation with the team and will begin to develop a first
blockchain proof-of-concept. We look forward to seeing these
blockchain applications applied to our business," stated Alex
Blyumkin, CEO of Petroteq.
According to a report by www.OilPrice.com, blockchain technology
shows great potential, as it can be used to execute energy supply
transactions, as well as create the basis for clearing processes,
metering and billing applications in the documentation of
ownership, the state of asset, renewable energy and white
certificates, guarantees of origin and emission allowances.
About First Bitcoin Capital Corp.
The Company is engaged in developing digital currencies,
proprietary Blockchain technologies, and the digital currency
exchange - www.CoinQX.com (in Beta). The Company sees this step as
a tremendous opportunity to create further shareholder value by
leveraging management's experience in developing and managing
complex Blockchain technologies and in developing new types of
digital assets. Being the first publicly-traded cryptocurrency and
BlockChain-centered company, the Company wants to provide its
shareholders with diversified exposure to digital cryptocurrencies
and BlockChain technologies.
For more information, visit www.BitcoinCapitalCorp.com.
About Petroteq Energy Inc.
The Company 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 GR Energy Inc. Under a joint
venture agreement with Recruiter.com and Oilprice.com, we
anticipate that the website offering employment opportunities in
the Energy sector will be launched in the month of November 2017.
Petroteq is also developing technologies to optimize petrochemical
industry workflow processes and will bring a team of professionals
to expedite the process. Recently Company partnered with First
Bitcoin Capital to develop Blockchain powered industry supply chain
management platform called PetroBLOQ.
For more information, visit www.Petroteq.Energy.
Forward-Looking Statements
Certain statements contained in this press release contain
forward-looking statements. Words such as "may," "would," "could,"
"should," "potential," "will," "seek," "intend," "plan,"
"anticipate," "believe," "estimate," "expect," and similar
expressions as they relate to the Company, including the success
and performance of the platform being designed by the Company for
Petroteq, are intended to identify forward-looking information. All
statements other than statements of historical fact may be
forward-looking information. Such statements reflect the Company's
current views and intentions with respect to future events, based
on information available to the Company, and are subject to certain
risks, uncertainties and assumptions. Material factors or
assumptions were applied in providing forward-looking information.
While forward-looking statements are based on data, assumptions,
and analyses that the Company believes are reasonable under the
circumstances, whether actual results, performance or developments
will meet the Company's expectations and predictions depend on a
number of risks and uncertainties that could cause the actual
results, performance and financial condition of the Company to
differ materially from its expectations.
Certain of the "risk factors" that could cause actual results to
differ materially from the Company's forward-looking statements in
this press release include, without limitation: changes in laws or
regulations; the ability to implement business strategies or to
pursue business opportunities, whether for economic or other
reasons; status of the world's use and acceptance of digital
currencies and blockchain platforms; state of capital markets and
ability by the Company to raise capital; litigation; the commercial
and economic viability of the Company's technologies and software,
and other proprietary technologies developed by the Company which
are of experimental nature and have not been fully adopted;
reliance on suppliers, contractors, consultants and key personnel;
potential failure of the Company's business plans or model;
unanticipated costs and expenses, availability of financing and
other capital; uninsurable or uninsured risks; potential conflicts
of interest of officers and directors; and other general economic,
market and business conditions and factors, including the risk
factors discussed or referred to in the Company's filings, which
are on file at www.OTCMarkets.com.
Should any factor affect the Company in an unexpected manner, or
should assumptions underlying the forward-looking information prove
incorrect, the actual results or events may differ materially from
the results or events predicted. Any such forward-looking
information is expressly qualified in its entirety by this
cautionary statement. Moreover, the Company does not assume
responsibility for the accuracy or completeness of such
forward-looking information. The forward-looking information
included in this press release is made as of the date of this press
release and the Company undertakes no obligation to publicly update
or revise any forward-looking information, other than as required
by applicable law.
Contact:
First Bitcoin Capital Corp.
http://www.BitcoinCapitalCorp.com
Info@BitcoinCapitalCorp.com
SOURCE: First Bitcoin Capital Corp.
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