TEL AVIV, ISRAEL / ACCESSWIRE / January 11, 2018 / . (OTC PINK: ) (COIN: ), a global developer of blockchain-based applications (the "Company") announced today that it has received the first $100,000 payment from . (TSX-V: ) (OTCQX: ) (FRA: MW4A) under the terms of distributed ledger technology services agreement signed with Petroteq in November 2017. Under this agreement, the Company will receive a series of cash payments totaling $500,000 in return for its services in designing and developing a BlockChain-powered supply chain management platform for Petroteq that will be made available to the . The platform will be designed as a "one-stop shop" that will provide both small and large oil and gas producers and operators with the ability to customize their own distributed ledger modules that will permit each company, in a secure "closed" environment, to document, track, and account for the supply of equipment, materials, and services in project, field, and lease development.
Our emphasis is on ongoing innovation, and research of new capabilities of the distributed ledger for the industry.