- Petroteq launched its PetroBLOQ blockchain platform – a pioneering development in the oil and gas industry
- Mexico’s Pemex has already become the first PetroBLOQ member
- The blockchain market is set to experience colossal growth in all industries over the next six years
Blockchain technology has a wide range of applications across different industries, and Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF), a leading developer and provider of proprietary technology for the energy industry, has just demonstrated one more. The company’s innovative PetroBLOQ blockchain platform is a pioneer development in the oil and gas industry, aiming to take the shared economy concept one step further by making a number of industry intermediaries redundant and, consequently, reducing the cost of transactions in supply chain management (http://nnw.fm/6ZWyG).
Through the use of blockchain technology, it’s possible to complete transactions without an intermediary because of the verified procedures that are built into the platform. This is the main difference between blockchain-based projects and peer-to-peer interactions like those typical for sharing economy flagships such as…
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