PermianChain Technologies Inc. is a FinTech startup based in Toronto, Canada with presence in the United Arab Emirates through its joint venture with Permian Holding SPV Ltd., a limited company based in the Abu Dhabi Global Market (ADGM).
PermianChain signifies the recognition of the Permian Era, by harnessing blockchain technology to capitalize on the world’s fossil fuels by turning exploration and production campaigns into investable digital-assets. The PermianChain team is made up of ethical and competent professionals with expertise and backgrounds in Oil & Gas, Finance, Law, Investment Banking, IT & ICT, Blockchain, Data Science and Marketing.
To operate a blockchain enabled Platform-as-a-Service (PaaS) and Trust-as-a-Service (TaaS) for issuing digital-assets against proven oil exploration & production campaigns, allowing our stakeholders to benefit from increased transparency, efficiency and profitability.
To eliminate the high barriers to entry and introduce more sustainable financing & investment solutions for the exploration & production of proven natural reserves globally.
The PermianChain technology revolutionizes the oil & gas industry’s business model via blockchain.
The first Shari’a Compliant digital-asset designed to provide equity in proven oil campaigns in which the PermianChain platform approves. With XPR, we have created an innovative, new method of investing in oil and gas campaigns, increasing efficiency preserving wealth, and providing liquidity and transparency never-before-seen in the oil and gas investment space.
Offers ongoing trading and liquidity for the Permian Token (XPR). Optimized with an exit facility for token buy-backs, which provides more convenient exit options for higher liquidity potential.
An off-line crypto-account to preserve and safeguard your digital assets (compatible with all ERC20 tokens, Ethereum and Bitcoin).
Permian Investor – is your dedicated dashboard allowing you to manage direct investments in proven oil campaigns. The dashboard includes real-time charts, tracking of underlying reserves, metrics, key performance indicators (KPIs), and more.
Permian Supplier (XPS) – allows upstream companies to efficiently raise capital under a Security Token Offering (STO) framework. This optimizes business models for the development and production of proven reserves.
Permian Trader (XPT) – allows midstream companies to buy reserves and track the progress of production, including rapid order processing, Smart Off-Take Contracts (SOTC), crypto-payments, and more.
Permian Messenger – is a fully integrated messaging system enabling communication between parties for more transparent and convenient commodity trading and deal-making.
Sourced pipeline of potential oil & gas campaigns to be listed on the Permian platform.
The Permian Token (XPR) idea is initiated with the intent to eliminate high entry fees and that historically been a barrier to entry for direct oil & gas investments.
First draft of the Technical White Paper is completed with the development, design and deployment of the Permian Token (XPR) Dashboard and XPR Wallet.
Deployment of Permian Token (XPR) smart contract as an ERC20 token on the Ethereum network.
Partnered with Gulf Energy Corporation Ltd. and Appointed Blockchain Developer Lead to start the PermianChain prototype and rollout of the MVP development stages.
Completed Permian.io website with new branding, new message and a newfound mission to digitize the world's proven natural reserves. Updated the Technical White-Paper, drafted the Technical Architecture and technical development roadmap for the PermianChain platform
Completion of PermianChain platform prototype, commencing of MVP development stages and appointing King & Spalding, a global legal specialists, for review and preparation of all disclosure documents and regulatory requirements.
Commence due diligence on already identified proven oil campaigns. Finalized developer training with IBM Hyperledger Fabric team for PermianChain's MVP development..
Completed all disclosure documents, investment strategy, corporate registration and legal review for the private placement offering. Signed Memorandum of Understanding (MoU) with VersaVault Inc., a subsidiary of a Schedule 1 licensed bank in Canada for digital custody integration on the PermianChain Platform. Received Shari'a Certification from Shariyah Review Bureau to recognize the PermianChain and Permian Token (XPR) as compliant with Shari'a law and ethical investment practice.
Produced and launched the PermianVAULT, a dedicated hard vault for storing Permian Tokens (XPR) to secure transaction processes. Appointing placement agent and distributor and filing of the offering with the regulators.
Deploy capital towards approved oil campaigns with over 2,000,000 Barrels of Oil Equivalent (BOE) in proven reserves. Open submission for oil exploration and production companies to list their proven oil campaigns.
Deploying large-scale containerized solution which consists of a natural gas turbine genset that is powewring a “proof-of-work” Bitcoin mining data center. Allowing optimization assets by providing increased monetization for Upstream exploration & production campaigns.
Integrate real-time video tracking of oil well drilling on the PermianChain platform allowing Permian Token (XPR) holders to track investment activity and development progress. Launch the Permian Exchange and Permian Supplier to provide liquidity to Permian Token (XPR) holders and allow for further listing of additional XPR on the PermianChain platform to represent investments in larger portfolio of approved oil campaigns.
PermianChain is a blockchain enabled FinTech startup company offering a Platform-as-a-Service (PaaS) for exploration & production companies (upstream) to launch their own Security Tokens against their proven oil campaigns. PermianChain also provides upstream and midstream companies a solution to trade commodities under a Closed-Loop-B2B-Exchange for more efficient and transparent trading.
PermianChain is focused on solving the high barriers to entry in oil & gas investments while bringing increased liquidity to the industry. Many private oil and gas opportunities are structured with premiums and upfront fees. That means the advisors and brokers make most of the profit by just placing investors’ money in the deal. Not only does this mean fewer of each investor’s dollars go into the deal than in other structures, it means the offering company’s motivation is to fill the deal fast for fast profits. PermianChain solves the stagnation in private equity oil investments and allows for a more secure, transparent and liquid approach to investing in proven reserves.
Through the use of smart contracts, we can now replace paper and complex agreements that are cumbersome, difficult to transfer and can be hard to track for the average person and even for sophisticated investors. Our solution for commodity investing (mainly in oil) would be to switch to a digital system along the lines of Ethereum, but which represents equity in the proven reserves, starting with the PERMIAN Token (XPR).
The PermaChain platform is being developed using IBM Hyperledger Fabric. Meanwhile token issuances are made using ERC20 standard on the Ethereum network
The protype is ready and available for platform prospects to view upon getting white-listed (see Get White-Listed button above). The MVP is under development and expected to be completed by Q2 2019.
We are working with King & Spalding, a global legal specialist.
Security Tokens are essentially financial securities and therefore, they are backed by tangible assets, profits, or company revenue. Security Tokens are subject to regulations in the issuers home jurisdiction.
- Micro-investments become possible (subject to regulations).
- Much more inexpensive to offer Security Tokens
- Online management of Investor communication and share registry possible
- Automated dividends distribution is possible
- Numerous customization options based on the need
- Open to worldwide markets (subject to regulations)
- Restricted to Accredited Investors and Venture Capitalists
- Costs could run into millions
- Maintaining ownership records is pretty outdated and expensive
- Sophisticated third-party vendors required to manage dividends distribution
- Pretty restrictive
- Geography restrictions apply
Profits made from the oil reserves that are registered on the PermianChain are retained by the platform issuers to reinvest in further development and production of proven reserves to increase token value. Distribution of profits may occur at certain times, such profits will be distributed in form of ETH to PERMIAN Token (XPR) holders. This ultimately increases demand for the token on exhanges, increasing the price as we keep tokens scarce.
During the Security Token Offering (STO) period, the there will only be 1,000,000,000 tokens issued for sale out of the 10 billion tokens generated. 65% of funds raised will go into the acquisition of proven oil reserves, 20% of funds raised will be invested into further development of the PermianChain platform and invest into further R&D for Artificial Intelligence, Data Science and Blockchain. 10% of funds raised will be allocated towards hiring the best talent, maintaining administrative requirements, regulatory licenses, legal and related costs. 5% of funds raised will be dedicated for marketing and advertising efforts.
First make sure to submit the form after clicking the "Get White-Listed" button above. Once submitted, a member of our team will contact you to guide you through the process.
Yes, we have AML & KYC compliance policies and procedures that must be followed prior to approving your booking of PERMIAN Tokens (XPR).
Purchase of PERMIAN Tokens (XPR) can be made with BTC, ETH or USD after completing the required steps with the issuing company.
You can add funds BTC or ETH to the wallet on the dashboard to purchase XPR or purchase via wire transfer directly to the Company after completing all compliance processes and procedures.
Yes, there is an e-wallet on the dashboard. PermianChain also offers PERMIAN Vault for token holders to store their digital-assets offline.
Download the MEW/Metamask Wallet: XPR token address: 0xd639c50ae803ae2f2b1d536d3b57ab41cbb624f3 • Token Symbol: XPR • Decimals: 2