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DMG Blockchain Technologies TSX.V:DMGI

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    DMG Blockchain Solutions Inc. has entered into an agreement with IBM Canada Ltd., and has selected IBM technology and services to jointly develop and deploy blockchain-based, global supply chain management solutions. These solutions will enable complete provenance, regulatory compliance, inventory management and on-time payment of products along the entire supply chain for regulated products such as pharmaceuticals.

    IBM Services' experts will collaborate with DMG to help build its new supply chain solutions, which will leverage the IBM blockchain platform and DMG's deep experience in blockchain analytics and forensics. Under the agreement, DMG expects to spend approximately $3-million in the first 12 months to develop the global supply chain platform and up to a total of $10-million over three years through the hiring of IBM's personnel. DMG expects to finance these costs through existing cash on hand, revenues, and if required, further financings or collaborations with other companies. IBM will provide program managers, technical architects, full stack developers, data scientists, data engineers and developers to work alongside DMG's blockchain development team.

    The overall supply chain project has deliverables, specific projects, timelines, and mandates that set forth the goals and steps as the global supply chain is developed. Under the agreement, IBM is not investing money in DMG or in the global supply chain platform; rather, IBM will bring its personnel, global reach and existing technology to this collaboration.

    The solution will initially be deployed for enabling regulatory compliance, verifying provenance and tracking quality control for regulated products, including pharmaceuticals. The IBM cloud will host the solution and interfaces between the blockchain technology and legacy enterprise systems, ERP systems, and integration with manufacturers, distributors, retailers, shippers, as well as reporting and auditing systems. The benefits of this collaboration and the potential sources of revenue are not known at this time. DMG will provide further updates as this global supply chain platform is developed.

    Dan Reitzik, chief executive officer of DMG Blockchain Solutions, commented: "We are honoured to work with IBM to jointly develop this global platform. It is a testament to the expertise and experience of our blockchain development teams in Silicon Valley and Vancouver. Our first step is to develop this platform with IBM and then to monetize it."

    DMG's chief technology officer, Danny Yang, is leading the development effort, and he is being supported by a strong team of advisers that includes Litecoin's creator, Charlie Lee. DMG's development team has already begun working with IBM Services to begin architecting the framework for this new supply chain solution.

    Peter Finn, IBM Canada's chief technology officer for strategy and growth, and master inventor, commented: "Blockchain is ideally suited to address supply chain challenges because it establishes a trusted environment for all transactions. We are pleased to work with DMG on this important initiative. DMG's selection of IBM services and blockchain technology on the IBM cloud will help create robust blockchain solutions so all participants in the pharmaceutical or agriculture supply chain can gain permissioned access to known and trusted information regarding the origin and state of their transactions."

    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, with its Blockseer division located in Silicon Valley, intends to be the global leader in industrial-scale crypto mine hosting (mining as a service), crypto mining, blockchain forensics/analytics, and blockchain platform development.


      Could not keep this IBM deal quiet.

      Day before halt -
      2018-10-01 V DMGI 0.29 0.36 0.275 0.36 +0.085 2,067,458 595 0.355 0.365 1,683,403 123,500 11,500 49,100 57,500 2,955 139,500
      Today after halt lifted just a bunch of profit taking -
      0.35 0.355 2.0 0.355 -0.005 -1.4 1,110.4 435 196 0.40 0.42 0.35 1.98 0.20