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DMG Blockchain Technologies TSX.V:DMGI

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    DMG Blockchain Solutions Inc. has formally closed the previously announced acquisition of Datient Inc., doing business as Blockseer.

    The combined DMG-Blockseer alliance represents a strong competitive advantage in providing leading cryptocurrency forensics and proprietary real-time risk scoring for compliance and anti-money laundering (AML). Additionally, Blockseer's blockchain and data analytics expertise provides the capabilities to uniquely offer class-leading enterprise solutions with a natural convergence of Blockchain and artificial intelligence technologies -- data are the asset, which can be tracked and monetized utilizing blockchain technology.

    Blockseer is a blockchain and artificial intelligence company headquartered in Silicon Valley, Calif. Blockseer has worked with several law enforcement agencies including the U.S. Secret Service, Federal Bureau of Investigation and the Internal Revenue Service, and it also provides Ethereum blockchain data services for, one of the world's largest cryptocurrency wallet providers. Blockseer provides data analytics and incorporates artificial intelligence to provide insight into what is happening with digital currencies and blockchains.

    Blockseer's intellectual property (IP) includes two U.S. provisional patents: (a) providing data provenance, permissioning, compliance and access control for data storage systems using an immutable ledger overlay network; and (b) off-network identity tracking in anonymous cryptocurrency exchange networks.

    Blockseer's current team comes from Stanford, Harvard, University of Chicago, Carnegie Mellon and Columbia with deep experience in artificial intelligence, big data, and blockchain and is led by its chief executive officer and founder, Danny Yang. Its advisers include Andreas Weigend, Bill Tai, Stephen Sorkin, Vas Bhandarkar, Phil Porras, and Brian Klein, and its influential shareholders include Charlie Lee, the founder of Litecoin.

    "To date, DMG has received recognition as a market leader in the crypto mining space, and now with the Blockseer acquisition, DMG can claim leadership in the blockchain development arena and deliver on its commitment to be a diversified blockchain company. Blockseer is not a single blockchain application, but a blockchain development engine for multiple applications with well-known global customers. We believe that the Blockseer team is amongst the most talented in the industry today, and we welcome Dr. Danny Yang and the Silicon Valley team to DMG," said Daniel Reitzik, chief executive officer and director of DMG.

    Chris Filiatrault, DMG's chairman and founder, added: "Japan remains the largest crypto market in the world, and very few non-Japanese companies have been successful. With the Blockseer product line, and the DMG presence in the market today, Japan represents a massive opportunity for our stakeholders. We have already planned a visit for Dr. Danny Yang to visit Japan and look forward to sharing our progress in short order."

    Terms of the transaction

    Under the terms of the transaction, DMG, through its U.S. subsidiary, acquired Blockseer for a purchase price comprising $2,630,769 in cash and 7,673,076 common shares of DMG.

    The transaction shares issued to the former Blockseer securities holders will be subject to vesting with such shares vesting ratably on a calendar quarterly basis over a two-year period following the closing.

    Following the transaction, DMG-US will own 100 per cent of Blockseer, with DMG-US shares being owned approximately 61 per cent by DMG and approximately 39 per cent by the selling securityholders of Blockseer.

    Upon completion of the trading restrictions, each individual holder of the DMG-US shall have the option to exchange such shares at the election of the holder one for one for DMG common shares, which will be fully tradable subject to the regulations of the TSX Venture Exchange. Additionally, in the event that upon completion of the trading restrictions, the per-share price of DMG's common shares is greater than 40 cents (as adjusted for stock splits and consolidations), then DMG, at its sole election, shall have the option to exchange all of the shares of DMG-US held by the former security holders of Blockseer one for one for common shares of DMG, which will be fully tradable shares in accordance with the policies of the TSX Venture Exchange.

    About DMG Blockchain Solutions Inc.

    DMG Blockchain Solutions is a diversified blockchain and cryptocurrency company that manages, operates and develops end-to-end solutions to monetize the blockchain ecosystem. DMG intends to be the global leader in bitcoin mining hosting -- mining as a service (MaaS), bitcoin mining, blockchain forensics/analytics and blockchain platform development.


      DMG closes crypto-analytics and AI deal
      Last edited by rick; March 7th, 2018, 05:47 AM.


        Anything with blockchain or cryptocurrency is sure having a tough go of it these days. I'm reminded of the last resource boon when companies could find easy finance money and did so in groves. However it ended up undermining the whole sector. There were soooo many warrants and free trading shares that came to the market, many of them underwater from the hold period that the whole sector seemed stuck in a quagmire of endless shares for sale for seemingly years.

        This tech segment has done an awful lot of money placement the last year or less. Now these shares are all coming to the market and there doesn't seem to be an appetite for them at the moment. Fertile ground indeed for shorters. I had some shares and finally sold them. Couldn't gain any traction. Great stories. Will watch from the sidelines for a bit until the sentiment starts to turn.


          I've never seen so much negativity coming from so many different places.

          Everyone, from gold sites to Bloomberg, seemingly has an axe to grind and the baby is getting thrown out with the bathwater.

          DMG is suffering but imo is the best deal out there for exposure. It'll settle in at some point and become a buy.



            Co-founder of HIVE...
            Genesis Mining Hit with Cease and Desist, U.S. Regulator Says Mining Contracts are Securities



              DMG Blockchain Solutions and Primary Engineering Complete Phase 1 Crypto Power Study

              VANCOUVER, British Columbia, March 15, 2018 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-VMGI) (“DMG” or the “Company”), a diversified blockchain and cryptocurrency company and Primary Engineering and Construction (“Primary”), an Electrical Engineering and Construction firm, today announced their joint initiative to study and improve power quality for crypto mining.

              The goal of this collaboration is to analyze electrical characteristics and requirements for large scale crypto mining operations. Company COO Sheldon Bennett commented, “Recently we announced a best-in-class partnership with D-Link for switching and routing for our crypto mining operations and this week we announce a best-in-class partnership with Primary for infrastructure and power management. This Phase 1 report will translate into significant savings for DMG in power infrastructure costs, as our power providers will have a better understanding of our needs. Essentially, it will make it easier for the utilities’ industry to work with us which is yet another market leading initiative.”

              Phase 1 of the study has been completed

              The results of Phase 1 served as key inputs for the system impact study conducted by the local grid operator. Anthony Bowers, Specialist Engineer - Primary, commented, “As crypto mining facilities are new to utility companies, using regular industrial load assumptions can have significant implications; it’s great to see DMG has set out to ensure the right data was made available to ensure a smooth interconnection process.” DMG has agreed to allow Primary to use the results of the studies as the basis for Primary’s upcoming submission to the Institute of Electrical and Electronics Engineers (IEEE) for consideration at an upcoming conference.

              Phase 2 of the study is underway

              Phase 2 of the study will expand the sample size from the original test system to a larger production system. This allows greater focus on optimizing the actual power system design for crypto mining, including measuring the larger scale system (multi-megawatt) energy consumption, peak kilowatt demand, power factor and system harmonics. The effect of harmonics is relatively unknown in the crypto mining community. As such harmonics are of particular interest to DMG as they can interfere with the continuous operation of the crypto mining units.

              Sheldon Bennett, COO of DMG, commented, “This partnership with Primary and their ability to quickly understand our power needs would have been advantageous when I was building my first 58 megawatts in Alberta; however with Primary’s insight DMG’s current facility (designed for up to 85 megawatts) will benefit from this information as well as the upcoming plans for DMG’s next build-outs, which are in the 100s of megawatts.”


                How Blockchain Technology is Changing the World




                  DMG Blockchain Solutions Inc. is contributing core code to a protocol known as Lightning, which can increase blockchain transaction throughput and make the bitcoin network more scalable.

                  The Lightning protocol is a cross-industry effort backed by technology industry innovators including Jack Dorsey of Twitter and Square, Charlie Lee of Litecoin, and academics at MIT (Massachusetts Institute of Technology). The core functionality that DMG is developing for Lightning is called atomic cross-chain swaps, which will allow bitcoin-related businesses to speed blockchain processes such as real-time payouts, payments in different currencies, faster and cheaper trading transactions, and diversification of coin holdings, as well as enable other efficiencies. DMG software developer and Lightning contributor Alex Bosworth is leading this effort. Mr. Bosworth tweeted: "Continuing my work with swapping on Lightning. A user-friendly visual swapping tool is in progress. Soon you will be able to swap or offer swaps with anyone." DMG's early embrace of Lightning provides further differentiation of its innovative approach to developing its blockchain platforms business. Danny Yang, DMG's chief technology officer, summarized the significance of this development: "DMG, along with others in the bitcoin community, is adding its technical resources and time to build the basis for a more scalable version of the bitcoin network. As both coin mining and blockchain technology have gained traction even among large businesses, we see more payments and commercial transactions happening over cryptocurrency networks. We all stand to gain by making bitcoin-based transactions more affordable and accessible."

                  About DMG Blockchain Solutions Inc.

                  DMG Blockchain is a diversified blockchain and cryptocurrency company that manages, operates and develops end-to-end solutions to monetize the blockchain ecosystem. DMG intends to be the global leader in bitcoin mining hosting -- mining as a service (MaaS), bitcoin mining, blockchain forensics/analytics and blockchain platform development.



                    Charlie Lee, inventor of Litecoin and former director of engineering at Coinbase, has joined DMG Blockchain Solutions Inc.'s advisory board as the company prepares to add Litecoin (LTC) mining as part of its mining-as-a-service (MaaS) operations, as well as apply the Lightning protocol for cross-chain atomic swaps between blockchains such as Bitcoin and Litecoin.

                    Mr. Lee is a celebrity figure in the cryptocurrency world, having created Litecoin just two years after the first Bitcoin appeared. LTC has remained one of the top-valued cryptocurrencies. Mr. Lee's Litecoin hashing protocol uses a different algorithm from Bitcoin and was designed to reduce blockchain transaction time by almost 75 per cent, which potentially makes Litecoin better suited for higher-volume transaction applications like retail shopping and on-line payments. Mr. Lee graduated from MIT with a computer science degree and developed Litecoin while working at Google as a software engineer. He left Google in 2013 to become one of the first hires at Coinbase, and in 2017, Mr. Lee stepped down from his position at Coinbase to work full-time on LTC as managing director of the Litecoin Foundation.

                    "Next to bitcoin, our global mining-as-a-service (MaaS) customers are requesting Litecoin mining services. Thus, as we prepare to expand our unique MaaS offering beyond Bitcoin, we are fortunate to have Charlie Lee as both a shareholder and an adviser," said Dan Reitzik, chief executive officer of DMG Blockchain Solutions. "As for Charlie, every employee in DMG Blockchain Solutions knows him by reputation, if not personally, and we are all excited to have his industry knowledge and his personal attention on DMG's strategy and development going forward."

                    "I am delighted to see DMG's interest in supporting LTC," said Mr. Lee. "I'm looking forward to advising both DMG's industrial mining and engineering teams as the company expands into the LTC ecosystem."

                    About DMG Blockchain Solutions Inc.

                    DMG Blockchain Solutions is a diversified blockchain and cryptocurrency company that manages, operates and develops end-to-end solutions to monetize the blockchain ecosystem. DMG, along with its Blockseer division located in Silicon Valley, intends to be the global leader in industrial scale crypto mine hosting -- mining as a service (MaaS), crypto mining, blockchain forensics/analytics and blockchain platform development.



                      Blackchain Solutions Inc. has signed a letter of intent with DMG Blockchain Solutions Inc. to license DMG's Prometheus technology for deployment as part of Blackchain's P2P lending platform. Under the proposed licence, Blackchain will retain exclusive rights for use of the technology for P2P lending. DMG will be entitled to a royalty on commercial revenues generated by Blackchain using the technology. The parties intend to negotiate and finalize a definitive agreement by May 15, 2018.

                      Prometheus is one of the first browser-based blockchain technologies developed by a Silicon Valley-based leader in blockchain and artificial intelligence - Blockseer. Blockseer, which has expertise from Harvard and Stanford, was recently acquired by DMG early in 2018.

                      The platform allows users to seamlessly connect on the blockchain via a traditional web browser, such as Chrome and Firefox. This drastically reduces the barriers to entry for blockchain participation. Daniel Reitzik, CEO and Director of DMG commented that, "We are extremely pleased to be partnering with Blackchain on their first commercial venture. Prometheus represents the next generation in blockchain technology, whose simplified, browser-based platform is opening up whole new markets in the cryptocurrency space. We hope that this LOI will be just the beginning in a growing relationship between DMG and Blackchain."

                      Integrated with Blackchain's P2P Lending Platform, Prometheus opens the door to cryptocurrency asset lending for individuals, without the need of traditional banks. This opens up both sides of the trillion USD credit debt market to individual users. Blackchain's P2P Crypto-Lending Platform also provides users with the opportunity to leverage their existing cryptocurrency holdings to turning a static, speculative holding into a yield-bearing investment.

                      Zayn Kalyan, Blackchain's Chief Technology Officer commented on this agreement: "DMG and Blockseer have developed a truly next-generation blockchain platform with Prometheus. As the crypto space matures, evolutionary approaches to system design will be the foundation for growth. Prometheus will enable Blackchain to deliver a cutting-edge product in our P2P Lending Platform. We look forward to working with DMG on other projects in the future."

                      About Blackchain Solutions Inc. (CSE: BIS) ( " Blackchain " )

                      Blackchain Solutions Inc. is a financial analytics and risk management company that is leveraging blockchain technology to transform lending for the rapidly emerging cryptocurrency economy. Building on an industry-proven credit-risk database and software platform, Blackchain provides the tools and services to bring cryptocurrency lenders and borrowers together, with confidence.



                        DMG Blockchain Solutions Inc. has officially launched its BitScore cryptocurrency deposit and withdrawal risk-scoring Web API for anti-money laundering (AML) and anti-fraud compliance.

                        The BitScore cloud-based API risk-scoring technology is used by crypto exchanges and enterprise payment platforms to quantify and manage their risk of legal non-compliance. The API, which was engineered by DMG's Blockseer development team, is powered by sophisticated artificial intelligence (AI) and machine learning models that examine the flow of cryptocurrency through the blockchain in order to establish the provenance of funds in any crypto wallet.

                        Customers can submit a cryptocurrency source or destination address to the BitScore API, and the algorithm returns a risk score evaluating the source of funds sent to that address, or if that address has sent funds to other high-risk parties such as known hacks, dark markets or money laundering services.

                        The BitScore algorithm looks at several generations of transactions -- or hops -- in both directions, and then applies a weighting function that captures the proportion of questionable cryptocurrency flowing through the transactions. BitScore currently supports Bitcoin and will add support for Ethereum and ERC20 tokens this summer, and Litecoin and Bitcoin Cash in fall 2018.

                        "Understanding the provenance of source and destination addresses is imperative for any exchange or payment platform sensitive to regulatory compliance," said Danny Yang, chief technology officer of DMG Blockchain Solutions. "Allowing an address that accepts deposits from, or makes payments or deposits to, disreputable networks is potentially abetting their activity, which creates legal liability for banks, exchanges and traders."

                        The company also announces it has appointed Diana Mark as corporate secretary and has moved its registered and records office to its head office at 490, 1090 Homer St., Vancouver, B.C., V6B 2W9.

                        About DMG Blockchain Solutions Inc.

                        DMG Blockchain Solutions is a diversified blockchain and cryptocurrency company that manages, operates and develops end-to-end solutions to monetize the blockchain ecosystem. DMG intends to be the global leader in bitcoin mine hosting -- mining as a service (MaaS), bitcoin mining, blockchain forensics/analytics and blockchain platform development.

                        We seek Safe Harbor.


                          This stock has been sliding lately despite strong interest in crypto currencies. I've been a bit surprised. This is another good press release from these guys so I'm tempted to buy more while it's lower.



                            Bitcoin Nearly as Bad as ‘Trading Harvested Baby Brains’, Says Berkshire VC Munger


                            Hard to call a multi billionaire a fool but this is over the top.



                              I wonder if that's helping drive down the price. It's been on a real slide for the past couple weeks. To jump in with some more shares now or is this one tanking?


                                When it first started to trade I said it was expensive wait it should correct to a better price. I was thinking .50 but jeez it's getting hammered. No idea why.