EXCERPT/ Toronto, CA -- January 29, 2018 -- InvestorsHub NewsWire -- BacTech Environmental Corporation (“BacTech” or the “Company”), (CSE: BAC, OTCBB: BCCEF) today announced that it has signed a Letter of Intent (“LOI”) with Blockmine Development Inc. (“BDM”) a company focused on introducing blockchain technology into the mining industry. Both parties will investigate the use of blockchain technology to provide verification of the production of environmentally beneficial metals.
Third party verification is needed to audit the process for producing what is referred to as “green metals”. Much like the introduction of branding for clean diamonds (ie not “blood diamonds”) buyers need to have verification that what they are purchasing and reselling falls into acceptable standards that have been set by the industry. With this in mind BacTech and BDM would hope to develop a process that verifies that each step of the retreatment of tailings illustrates what is happening in real time. The resulting recovered metals can then be marketed as environmentally beneficial metals. In other words, metals that benefit the environment as well as those that benefit the shareholders of BacTech.
“It has always been our intention to market recovered metal as a “green” product. The blockchain process will help us deliver on this intent through validation of the various steps needed to produce copper and silver. Ideally, a partnership with a jeweller for the silver production would be beneficial to both parties and we intend to pursue a partner with this in mind”, said Ross Orr, President and CEO of BacTech.
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