PetroBLOQ, a collaboration formed by Petroteq Energy and First Bitcoin Capital Corp., has joined the Enterprise Ethereum Alliance (EEA).

PetroBLOQ aims to develop a supply chain management platform based on blockchain technology for the global transaction needs of the oil and gas industry. The platform is being co-developed by Petroteq Energy and First Bitcoin Capital Corp.

“We are very pleased to be part of the 200-member Enterprise Ethereum Alliance,” said Alex Blyumkin, CEO of Petroteq Energy. “Joining this community of forward-looking enterprises and blockchain innovators is an important step for PetroBLOQ as we develop transformative solutions for the oil and gas industry.”

Formed earlier this year, EEA is an open-source blockchain initiative which aims to build, promote, and broadly support Ethereum-based technology best practices, open standards, and open-source reference architectures. It offers 14 industry-focused, member-driven Working Groups, including Quorum, Communications Protocol, Integration and Tools, Standards and Marketing and Communications.

“PetroBLOQ is a welcome addition to our growing community of diverse global industry experts,” said Julio Faura, chairman of the board of EEA. “We seek to attract a variety of organizations to help create enterprise-grade standards for Ethereum and to drive current and future development of the ecosystem to benefit all participants.”