Toronto, CANADA; August 12, 2019: The Blockchain Research Institute today announced its newest ‘Pioneer’ member, a membership category reserved for new companies that are revolutionising their industries with innovative blockchain strategies.
PermianChain, a Toronto-based blockchain company enabling the tokenization of oil and gas reserves, joins nearly 80 other BRI member companies, working together to enhance understanding of the blockchain and accelerate blockchain adoption in the enterprise.
“The energy sector is ripe for disruption in this second era of the internet,” said Don Tapscott, BRI co-founder and executive chairman. “We’re always pleased to introduce companies like Permian, working at the forefront of that disruption, to our growing collaborative ecosystem.”
Investors have often been priced out of the oil and gas sector by extensive bureaucracy and complicated broker relationships. Through its Abu Dhabi-based affiliate (Permian Holding), PermianChain uses blockchain to tokenize hydrocarbon reserves. This is designed to enhance sector financing by placing a value on proven reserves, making it possible for a wider range of investors to participate in the oil and gas sector.
“The Blockchain Research Institute ’s foundation is our research, but we’re also focused on serving as a greenhouse for innovation,” said Tapscott. “Pioneers like PermianChain are a crucial part of the collaborative culture we’re building.”
“The blockchain economy is nearing the end of its trough and the market is setting itself for long-term growth as blockchain applications are being released at a more enterprise level,” said Mohamed El-Masri, founder and CEO of PermianChain. “PermianChain’s involvement with the Blockchain Research Institute (BRI) is a sign of our commitment to continued enterprise level research & development in this space.”
“We plan to compliment the oil & gas industry with an exceptionally innovative business-model enabler that allows for the complete digitization of oilfields on the blockchain, from investments to powering oil & gas data centers with efficient natural gas.”
About the BRI:
The Blockchain Research Institute (BRI) is a global think-tank that helps organizations realize the new promise of the digital economy by researching the strategic implications of blockchain technology and producing practical insights to guide its members in achieving success. The BRI was founded in 2017 by Don and Alex Tapscott, the co-authors of the best-selling book Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World.
The institute’s global team of experts has more than 70 research projects underway covering financial services, manufacturing, retail, energy and resources, technology/media, healthcare and government; as well as how this nascent technology is changing the way companies are managed. To complement the research, the institute offers a suite of services to its members, including a private website for the sharing of deliverables, monthly webinars, all-member summits, and other exclusive activities. The institute’s research findings, conclusions and recommendations will be ultimately be released under a Creative Commons license.
To find out more, please visit: www.blockchainresearchinstitute.org/europe
Director of Communications
About PermianChain Technologies
PermianChain Technologies Inc. is a FinTech start-up based in Toronto, Canada with presence in the United Arab Emirates through its addiliation with Permian Holding SPV Ltd., a limited company based in the Abu Dhabi Global Market (ADGM). PermianChain signifies the recognition of the Permian Era, by harnessing blockchain technology to capitalize on the world’s fossil fuels by turning exploration and production campaigns into investable digital-assets. The PermianChain team is made up of ethical and competent professionals with expertise and backgrounds in Oil & Gas, Finance, Law, Investment Banking, IT & ICT, Blockchain, Data Science and Marketing.
Head of Communications