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.