Falconridge Oil Technologies Corp. To Seek Blockchain Technology
The Global Blockchain Technology Market is Predicted to Reach 339.5 Million U.S. Dollars in Size and is Forecast to Grow to 2.3 Billion U.S. Dollars by 2021
Richmond Hill, Jan. 25, 2018 (GLOBE NEWSWIRE) --
Richmond Hill, Falconridge Oil Technologies Corp. (OTC Pink: FROT) (“falconridfe” or the “Company”) is excited to announce that the Company has begun to seek Blockchain Technology. Management believes the technology can improve operations and boost productivity. As the crypto space expands and more companies develop blockchain solutions, the entire oil and energy industry will benefit from a technology which is revolutionizing the way the world does business.
According to industry portal OilPrice, Shell the energy giant has bought up a minority share in Gartner-listed startup Applied Blockchain. Operating for around three years now, Applied Blockchain has clients from the banking, telecoms, carmaking, manufacturing, and aerospace industries. This its first foray into energy. The technology is slowly entering into the energy sector with, according to Reuters, a consortium involving Shell, BP, and Statoil already working on the development of a blockchain-based energy commodity trading platform.
The Company believes the next great frontier for growth and opportunity is to seek Blockchain implementation to improve operations and boost productivity.
About Falconridge Oil Technologies Corp.
FalconRidge is a North American based company with its headquarters located in Toronto, Canada. FalconRidge also has offices in California and Denver USA.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers and effectively compete against similar companies.
SOURCE Falconridge Oil Technologies Corp.