Thursday, October 04, 2018 2:48:36 PM
https://globenewswire.com/news-release/2018/10/04/1601657/0/en/DMG-Blockchain-to-Develop-Blockchain-Solutions-for-Global-Supply-Chain-Management.html
VANCOUVER, British Columbia, Oct. 04, 2018 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTC US) (FRANKFURT:6AX) (“DMG” or the “Company”), a diversified blockchain and cryptocurrency company, announced today that it has entered into an agreement (the “Agreement”) with IBM Canada Ltd. (“IBM”) and 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 C$3,000,000 in the first 12 months to develop the global supply chain platform and up to a total of C$10,000,000 over three years through the hiring of IBM’s personnel. DMG expects to fund 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.
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