- DMG releases an API for Walletscore, enabling automated BTC wallet risk lookups. ETH is expected early Q2 2019
- DMG has partnered with SPIRIT Blockchain, a Swiss-Canadian blockchain technology company, to market and sell DMG’s analytics software (Walletscore and Blockseer) for anti-money laundering and forensics
- DMG chose SPIRIT as a reseller based on its expertise and extensive reach into the European financial services industry
- DMG is now offering Walletscore as the industry’s most accessible way to assess the risk of transacting with another bitcoin wallet with a choice of manual input (no charge) or automated API calls
VANCOUVER, British Columbia, March 15, 2019 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTC US) (FRANKFURT:6AX) (“DMG” or the “Company”), a diversified blockchain technology company, announced that it has released its API for Walletscore and has partnered with SPIRIT Blockchain Capital Inc. (“SPIRIT Blockchain”) to sell DMG’s crypto analytics software for forensics and anti-money laundering (AML). SPIRIT Blockchain delivers blockchain technology and applications to enterprise and government clients, including blockchain transaction oversight and forensics. SPIRIT Blockchain intends to sell DMG’s Walletscore and Blockseer software products to leading financial institutions, government regulators, exchanges, law enforcement agencies, and service providers in Switzerland and throughout Europe.
DMG CEO Dan Reitzik stated, “The release of the Walletscore API enables exchanges, financial institutions, online casinos, and others to very quickly determine the AML risk of transacting with their existing and new customers. The timing of the release is ideal as Switzerland has been a global leader for nurturing cryptocurrency and blockchain technology, so it made sense to partner with a company that deeply understands the local market. SPIRIT Blockchain brings cryptocurrency expertise and more, as it also has deep relationships with the traditional financial services industry.”
SPIRIT Blockchain CEO, Erich Perroulaz stated, “We are excited to be working with DMG Blockchain Solutions. DMG develops and supports high-quality solutions in the digital asset and cryptocurrency industry with its Walletscore and Blockseer products. Through our partnership with DMG, we are able to provide European institutions, financial firms and merchants access to a variety of timely solutions. DMG products deliver AML, KYC, forensic tracking and data analytics capabilities, all of which bring further value to SPIRIT Blockchain’s portfolio and clients. These products have the potential to solve many KYC and AML issues as well as help law enforcement keep up with criminal activity.”
In addition, DMG announced that its AI-powered risk assessment tool, Walletscore, is now offered as the industry’s most accessible way to assess the risk of transacting with another wallet, available via either GUI or API, to combat money laundering and fraud. Simply enter a wallet address at www.dmgblockchain.com/walletscore and instantly receive a full graphical report of its risk rating (ranging from “Negligible Risk” to “Highest Risk”) as well as a view of all of the nearby wallets with which it has transacted and their respective categories (e.g. “dark market”, “mixer”, “heist”). The graphical report is free, and API access is available as a subscription. This is available for BTC currently, and support for ETH is expected to be available in early Q2 2019.
DMG CTO, Danny Yang stated, “Walletscore applies the most advanced data science to unravel the Bitcoin blockchain. While Walletscore looks deceptively simple, under the hood is a powerful machine learning engine whose creation is the result of thousands of hours of development. Going forward, DMG intends to further push the state-of-the-art in data science along with adding new graph intelligence automation techniques that will enable it to quickly support many additional blockchains, including Ethereum, along with ERC-20 tokens.”
About DMG Blockchain Solutions Inc.
DMG Blockchain Solutions Inc. is a diversified blockchain technology 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 (MaaS), crypto mining, blockchain forensics/analytics, and blockchain platform development.
For more information on DMG Blockchain Solutions, please visit: www.dmgblockchain.com
On behalf of the Board of Directors,
Daniel Reitzik, CEO & Director
For further information, please contact:
DMG Blockchain Solutions Inc.
Investor Relations: John Martin
Toll Free: 1-888-702-0258
About SPIRIT Blockchain Capital Inc.
SPIRIT Blockchain Capital Inc. is a Canadian-Swiss based Financial Services Company providing traditional investors exposure to Digital Assets and the Blockchain Ecosystem. The company operating with the primary goal of creating value through income streams and capital appreciation. The Company’s strategy provides exposure to this emerging asset class through a managed risk and value approach.
For more information on SPIRIT Blockchain, please visit: www.spiritblockchain.com
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information based on current expectations. Statements about the Company’s plans and intentions, other potential transactions, WalletScore and the addition of ETH, acquisition of customers, product development, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that 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 predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoins; security threats, including a loss/theft of DMG’s bitcoins; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce 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 adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business 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 regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.
The securities of DMG are considered highly speculative due to the nature of DMG’s business.
Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, competition, security threats including stolen bitcoins from DMG or its customers, consumer sentiment towards DMG’s products, services and blockchain technology generally, failure to develop new and innovative products, litigation, increase in operating costs, increase in equipment and labor costs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.