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DMG Mining Facility (Aerial View)
DMG Mining Facility (Aerial View)
DMG Blockchain Solutions Inc.
DMG Mining Facility
Recently, DMG has energized its 85-megawatt substation in its mining structure in eastern British Columbia.
DMG Blockchain Solutions Inc.
Proprietary mine management software
Proprietary mine management software
DMG Blockchain Solutions Inc.
Blockseer product Screenshot
In this example of a recent survey, DMG's Blockseer was used to track the cryptocurrency stolen from the $ 500 million NEM hack in Japan. The perpetrators tried to "wash" the transactions using glasses, mixers and other technologies. The portfolios at the bottom are currently holding back the stolen funds.
DMG Blockchain Solutions Inc.
Walletscore product screen
On this screen, Walletscore shows a "High Risk Rating" for "1ChELp7ynrwpktFJvRgrBECWxWWg2Mxu72" has a balance of 0 BTC. It has a high risk rating as the percentage of contaminated funds that passes through its portfolio is more than 77% of all other addresses that also entail a certain amount of risk.
DMG Blockchain Solutions Inc.
Wazabi Consortium Project
Wazabi Consortium Project
DMG Blockchain Solutions Inc.
Wazabi Project Advantages and functionality
Wazabi Project Advantages and functionality
DMG Blockchain Solutions Inc.
VANCOUVER, British Columbia, 10 January 2019 (GLOBE NEWSWIRE) – DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF: OTC US) (FRANKFURT: 6AX) ("DMG"or the"Company")
Shareholders:
Thank you for your continued support for DMG. We know that this market has been challenging for our industry and for our shareholders. In an effort to keep our shareholders well informed, going forward, DMG publishes a quarterly newsletter that highlights operational activities and key business developments, of which this is the first.
DMG was founded as a diversified blockchain technology company, with the goal of creating the best hosting operations, software analysis tools and business blockchain platforms in the industry. I believe we are now on track to achieve these goals, and we hope this update will give you the same confidence in DMG that I own.
Hosting operations
DMG's strategy of mainly hosting cryptographic equipment on behalf of third parties proved to be wise, as most of our competitors have invested a lot of capital into equipment that is rapidly approaching the end of its useful life. The cryptography market is now preparing for a new generation of technology that will soon be available and DMG is ready to become a favorite hosting site.
Recently, DMG has energized its 85-megawatt substation at our eastern British Columbia mining plant.
DMG is able to add around 15 megawatts of hosting capacity every 6 – 8 weeks, to a short-term capacity of 60 megawatts under its current power configuration, expandable to 85 megawatts. What does this mean? This means that DMG now has the capacity to host between 40,000 and 50,000 individual ASIC miners, making the DMG facility one of the largest such facilities in North America.
DMG's existing customers represent around 15 megawatts, about half of which have recently been added for a new Mining-as-a-Service ("MaaS") client. https://globenewswire.com/news-release/2018/12/05/1662453/0/en/DMG-Blockchain-Signs-7-Megawatt-Bitcoin-Mining-Contract.html.
Another 15 megawatts are scheduled for the end of February, with the remaining 30 megawatts to be energized shortly thereafter. The Company is discussing with multiple parties to host its mining servers as part of our MaaS offering and we will update the market if and when we enter into these agreements.
Unlike most large operations, DMG fully owns its new substation, which not only provides our hosting customers with a reliable source of energy, but also allows DMG to purchase energy at attractive rates. Furthermore, DMG's energy consumption does not affect the quality of food and the availability of the local community.
How we generate revenue from Mining
DMG charges customers with a monthly hosting fee to manage the client's servers. In some cases we provide miners for customers of various manufacturers and we resell them to our customers with profit.
My management software
Managing successful industrial hosting facilities means driving efficiency to minimize power consumption and maximize uptime for client servers. To allow this, DMG recently launched the first version of our proprietary Mine Management software. This real-time platform monitors many key metrics, including temperature, humidity, individual and pooled hash rates, as well as real-time switching and routing, allowing our data mining staff to make adjustments and repairs in real time. DMG intends to license this software to other industrial miners.
Blockseer and Walletscore
In early 2018, DMG acquired Dataent Inc., a Silicon Valley-based technology company founded and led by Danny Yang, a Stanford doctor in Computer Science and Artificial Intelligence. Tim Eller, our data science manager, graduated from Harvard and received his doctorate in data science and mathematics at UCLA. Tim is also the inventor of Lyft's advanced algorithm, which has been a major innovation for the rideshare industry. The team consists of six engineers and is located in Sunnyvale, California, under the leadership of DMG's Chief Technology Officer Danny Yang.
Blockseer.com is an analysis tool that allows the tracking of cryptocurrencies and transactions on both the Bitcoin and Ethereum blockchains. This technology is currently used by the FBI, the IRS, various crypto-exchanges and other forces of order and industry participants. Until recently this was a tool we offered for free, as we were building the in-depth data analysis engine that now powers both Blockseer and its complementary tool, Walletscore. The interaction with the user and the labeling, together with our proprietary artificial intelligence algorithms, is the way in which Blockseer has become an essential investigative tool for blockchain. With over 8,000 users / contributors in the last 5 years, its main data has been created for users by users!
Walletscore provides a risk score for Bitcoin portfolios based on historical transactions and transactional relationships: in practice, it is like a credit score for cryptographic portfolios. This product has been completed and target customers include cryptographic exchanges, payment platforms and others that wish to comply with AML regulations. For a short time you can try it DMGBlockchain.com/walletscore
How we generate revenue from Blockseer and Walletscore
DMG & # 39; s Blockseer is mainly sold to the ordering forces, while our Walletscore product is mainly sold to exchange and payment platforms. Blockseer is a subscription-based product while Walletscore is transaction based.
Partnership: JCIS Japan
DMG recently partnered with JCIS Japan to start selling Blockseer and Walletscore to customers all over Japan. These customers include cryptographic exchanges, police forces and order forces, as well as other government agencies.
Why Japan?
DMG has always had a focus on the Japanese market, and our first two MaaS customers were Japanese companies. Japan is the first country to regulate bitcoins, Japan is often the world leader in bitcoin trade volume and the Japanese population has embraced bitcoin. Tools like Blockseer and Walletscore are REQUESTED by the Japanese government and we see a tremendous growth for this class of AML and investigative technology while other governments around the world are starting to actively regulate their markets. Japan is only the beginning.
Partnership: Blockchain-based supply chain management platform
In a recent press release, DMG announced that it has partnered with IBM to collaborate on creating supply chain management blockchain platforms. IBM is the GLOBAL leader in this technology that has built Food trust with Walmart (Food security and traceability), is TradeLens with Maersk (Global management of shipping and logistics), two leaders in their respective sectors. In a nutshell, the partnership with IBM strengthens DMG's efforts and provides global business experience in blockchain technology and systems integration.
Wazabi Project
Wazabi, the result of over two years of market research and industry discussions, is a blockchain-based platform for managing the cannabis supply chain and regulatory compliance on a global scale. Bitcoin was the "FIRST" use of blockchain technology, but the "PERFECT" use case is the supply chain management of controlled products. Blockchain technology will transform many industries, but due to the need to integrate with existing legacy systems, these changes will take years. Because the cannabis industry is very new and therefore not tied to legacy systems, the implementation of supply chain management systems that use blockchain technology can happen much faster. The cannabis industry needs immediate traceability, which is exactly what the blockchain offers.
DMG is currently bringing together a consortium of industry stakeholders, including authorized manufacturers, dealers, test and government centers, who will work together to ensure that Wazabi meets the needs of each specific participant in the entire supply chain. The intention is to create Wazabi so that the platform integrates seamlessly with the existing ERP and other software systems already implemented and in use.
By the spring of 2019 the beta version will be released with additional features added to the platform over time. We are extremely excited to be a founding partner in the Wazabi consortium and the potential future of revenues that should result from the development of this technological solution.
Benefits and characteristics
Wazabi is expected to bring the following benefits to the cannabis industry:
- Enabling traceability of the irrefutable product for immediate calls
- Ensure that all products in the supply chain come from legal manufacturers
- Improve product safety for consumers
- Allowing different parts to access blockchain data based on their specific level of authorization
- Automation of regulatory, legal and tax compliance in each jurisdiction
- Allow consumers to see exactly which authorized producer has grown or processed their produce, when it has been grown, etc.
- Improvement of international credibility through product verification
- Market intelligence and data analysis at the sector level
Change of Auditor
At the end of 2018 the Company also changed its auditor. Starting November 1, 2018, Charlton & Company LLP ("Charlton" or "Ex auditor") has been discontinued and MNP LLP ("MNP"or the"Successor Auditor") Charlton's resignation and the appointment of MNP have been approved by the Company's Board of Directors None of Charlton's notifications on any of the Company's financial statements relating to the" relevant period "(as such term is defined in section 4.11 (1) of NI 51-102) expressed a modified opinion: there was no "event to report" (as this term is defined in section 4.11 (1) of NI 51-102), which occurred in connection with the auditing of the previous company for the year ended March 31, 2017 and of the Company for the year ended September 30, 2017 or for any subsequent period.
Once again I thank you for your continued support. I hope this will give you more clarity about the company's efforts and the confidence that DMG is achieving the goals initially set.
Greetings,
Dan Reitzik, CEO
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About DMG Blockchain Solutions Inc.
DMG Blockchain Solutions Inc. is a diversified blockchain and cryptocurrency company that manages, manages and develops end-to-end solutions to monetize the blockchain ecosystem. DMG, with its Blockseer division located in Silicon Valley, intends to be the global leader in the industrial scale crypt mining industry: Mining as a Service (MaaS), crypto mining, blockchain forensics / analytics and blockchain development.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
For more information, please contact:
DMG Blockchain Solutions Inc.
Investor Relations: John Martin
Toll free number: 1-888-702-0258
Email: [email protected]
Web: www.dmgblockchain.com
Direct: 778-868-6470
Cautionary note regarding forward-looking information
This press release contains forward-looking information based on current expectations. The statements on the plans and intentions of the Company, other potential transactions, product development, events, acquisition of new clients, courses of action and the potential of the technology and operations of the Company, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including statements about beliefs, plans, expectations, or intentions about the future. Such information can generally be identified through the use of forwarding looking expressions such as "can", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or its negative or similar variations. The reader is advised that the assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those anticipated, due to numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, including, but not limited to, exhaustive , business, economic and capital market conditions; the ability to manage operating expenses, which could adversely affect the financial conditions of the Company; the ability to remain competitive when other financed competitors better develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and demand and prices of products; the demand and the price of bitcoins; security threats, including DMG bitcoin loss / theft; DMG's relationships with its customers, distributors and business partners; the inability to add more power to DMG structures; The ability of DMG to successfully define, design and release new products in a timely manner and able to meet customer needs; the ability to attract, retain and motivate qualified personnel; competition in the sector; the impact of technological changes on products and on industry; inability to develop new and innovative products; the ability to maintain and successfully assert our intellectual property rights and defend third party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and negatively affect the business; the ability to manage working capital; and dependence on key personnel. DMG may not actually realize its plans, projections or expectations. These statements and information are based on numerous assumptions related to present and future commercial strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulations or read this will prevent the Company from managing its business, expected costs, the ability to meet the objectives and the price of bitcoins. Given these risks, uncertainties and assumptions, you should not over-rely on these forward-looking statements.
DMG securities are considered highly speculative due to the nature of DMG's business.
Factors that could cause actual results to differ materially from those contained in forward-looking statements include: failure to obtain regulatory approval, continued availability of capital and financing, equipment failures, lack of equipment, energy and infrastructure supplies, failure to obtain any necessary permits to manage the business, the impact of technological changes on industry, competition, security threats, including bitcoins stolen by DMG or its customers, the feeling of consumers towards blockchain products, services and technology in general, the price of cryptocurrencies, the failure to develop new and innovative products, litigation, increase in operating costs, increase in equipment and labor costs, failure to comply with counterparties for obligations contracts, government regulations, loss of employees and key consultants and general market, economic or commercial conditions. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The reader is advised not to rely excessively on forward-looking information.
The forward-looking statements contained in this press release are made at the date of this press release. Except as provided by law, the Company disclaims any intention and undertakes no obligation to update or revise the forward-looking statements, either as a result of new information, future events or otherwise. Furthermore, the Company assumes no obligation to comment on the expectations or statements made by third parties in relation to the issues discussed above.
Neither the TSX Venture Exchange nor its settlement service provider (as defined in the TSX Venture Exchange policies) accept responsibility for the adequacy or accuracy of this press release.
The images that accompany this announcement are available at the address:
http://www.globenewswire.com/NewsRoom/AttachmentNg/63b6e20e-11e2-40ed-a9a9-e00f78d312d0
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