Alastair Caithness, Ziyen Energy CEO, stated,
“The Working Interests we have acquired are in onshore mature producing oil and gas wells based in Texas. All the wells are operated by Eagleridge Energy and are produced from the Barnett Shale Basin which is a geological formation in north Texas.
The implementation of blockchain on oil and gas markets has the potential to improve the efficiency of the oil and gas industry for companies by reducing operational costs, and eliminating operational delays, as well as increasing transparency by tracking CO2 emissions across the industry.
However, I believe the tokenization of oil and energy assets will revolutionize the industry and Ziyen Energy is just the tip of the spear of this change and once the super majors become involved everything will change.“
Ziyen Energy’s work on asset backed tokenization in the oil and energy industry was initially examined and researched by Blockchain Professors and Researchers from Columbia University, University of Florida and the University of Michigan. In 2019, Ziyen Energy initiated the project to tokenize energy assets on the blockchain.
David Rogers, CTO, added,
“Our White Paper provided a hypothetical background to tokenization of energy assets and it is encouraging to see our financial model continue to develop. Everyone says we need to move from traditional to renewable energy but that’s not just a matter of flipping a switch. At Ziyen Energy we believe the blockchain can be key in this transition.”
In October 2020 Ziyen Energy CEO, Alastair Caithness, was a co-author of the first financial journal research paper on ‘Finance infrastructure through blockchain based tokenization,’ where Ziyen Energy featured as the case study in the paper.
Finance infrastructure through blockchain based tokenization – Financial White Paper Published in Google Scholar
About Energy Tokens:
Energy Tokens was established in 2019 by Ziyen Energy in collaboration with leading blockchain, data analysis, tokenization, regulatory and trading specialists to develop the Energy Tokens Asset Trading Platform. The Energy Tokens Asset Trading Platform provides a means for tokenizing ownership interests in energy producing assets using permission-based blockchain technology.
About Ziyen Energy.:
Ziyen Energy. is a technology-driven energy company incorporated in the State of Wyoming, U.S.A. in April 2016. Originally formed as a software company providing information on the oil, gas, power and energy sectors, Ziyen specializes on business information, contracts, news and information by developing cutting edge procurement and supply chain software to provide clients with intelligence on industry specific government and private contracts. In addition, Ziyen Energy currently owns interests in oil assets based in Texas and the Illinois Basin, which covers Illinois, Indiana and Kentucky. The equity of Ziyen Energy has been tokenized and issued as ZiyenCoin which is offered for sale as a Security Token pursuant to SEC Rule 506(c) of Regulation D.
For more information visit www.ziyen.com.
Forward Looking Statements:
Certain statements in this press release including, but not limited to, statements related to anticipated commencement of commercial production, targeted pricing, performance goals, and statements that otherwise relate to future periods are forward-looking statements. These statements involve risks and uncertainties, which are described in more detail in the Company’s periodic reports filed with the SEC- specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements are made and based on information available to the company on the date of this press release. Ziyen Inc. assumes no obligation to update the information in this press release.