After over a year of R&D, Houston based EnergyFunders will unveil their own version of a class-leading blockchain technology platform by the end of February 2018, with a later planned secondary market. EnergyFunders’ new blockchain technology is the first to market in the energy investment sector. EnergyFunders’ proprietary technology, which took thousands of hours to develop, will enhance the experience of both energy investors and energy operators on the groundbreaking platform at EnergyFunders.com.
Often beleaguered by contradictory or inconclusive findings with regard to mineral rights ownership, investors and leaseholders in the oil and gas energy sector have famously endured protracted delays and rulings, court battles, transactional delays and even the postponement or abandonment of deals due to complicated ownership disputes. With appropriate onboarding and initial verification, blockchain-verified ownership and smart contract transactions can reduce or eliminate disputes and create an unclouded chain of ownership.
Traditionally, trading, selling and purchasing energy assets and ownership interests has been a time-consuming process requiring lengthy title searches, due diligence, and many requests for information. With the introduction of EnergyFunders’ blockchain technology, transactions can be authenticated and ultimately settled using smart contracts that engage in predefined commercial actions according to criteria required by the transaction. Moreover, relevant information is easily stored, retrieved, and correlated with assets. Ultimately, expensive and time-consuming asset transfer transactions become streamlined with large attendant reductions in cost and time.
“In addition to enabling ground-level access to opportunities for investors, our blockchain technology will offer a new, critical transparency along with greatly reduced transaction times compared to traditional transactions,” says Aalok Shah, CTO of EnergyFunders. Additional benefits of EnergyFunders’ blockchain technology for investors and fundraisers will include:
- Efficiency and Optimization - Bringing liquidity to an illiquid energy market; allowing transactions to occur more safely and quickly, and opening up a secondary market.
- Accountability - Providing immutability and transparency for transactions, creating an audit trail for investors and regulation compliance.
- Enhanced security - Securing via unbreakable cryptography all relevant details of each transaction, which are independently, cryptographically verified.
EnergyFunders’ blockchain technology anticipates broadening the energy investment market to include all legally permitted users around the world with built-in regulatory and legal compliance as appropriate for each user’s country of residence. Eventually, EnergyFunders users are projected to experience a true borderless trading environment with a resulting dramatic reduction of transaction costs.
Investors and operators who want to learn more about this innovative platform can find more information and open a free account at EnergyFunders.com.