DMG Blockchain Solutions Inc (DMGGF)

[PotterBanker]

DMG Announces Free Access to Walletscore, Leading Crypto Transaction Risk Scoring Tool, Through November 15th

https://globenewswire.com/news-release/2018/10/30/1639156/0/en/DMG-Announces-Free-Access-to-Walletscore-Leading-Crypto-Transaction-Risk-Scoring-Tool-Through-November-15th.html

AI-Powered Anti-Money Laundering Tool to be Demonstrated for the First Time Publicly at ACFE Fraud Conference

VANCOUVER, British Columbia, Oct. 30, 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 that it is now offering its Walletscore anti-money laundering (AML) tool, at no charge through November 15, 2018, at dmgblockchain.com/walletscore/.

Walletscore is the industry’s pre-eminent solution for combating money laundering on the Bitcoin blockchain. DMG will be demonstrating Walletscore publicly for the first time at the ACFE Fraud Conference in Ottawa on October 28-31. DMG’s Director and COO, Sheldon Bennett, a Certified Fraud Examiner, will also be speaking at the ACFE conference.

With a surge in 2018 crypto exchange thefts, most notably $500 million stolen from Coincheck, risks for cryptocurrency money laundering are increasing. As bitcoin mixing and gambling sites have become magnets for money launderers, in order to combat them, newly elected DMG Director and CTO, Danny Yang noted, “We have brought to bear the most advanced artificial intelligence and machine learning techniques along with years of experience combing public blockchains to deliver world-class analytics capability.”

Walletscore verifies the riskiness of transacting with any Bitcoin blockchain wallet address and can help exchanges and payment platforms prevent tainting their funds and have in place robust tools as part of a holistic AML methodology that anticipates future regulation. Walletscore gives a measure on the transactions connecting any bitcoin address to potentially disreputable networks. The calculations look at transactions several generations in different directions and then apply a weighting that captures the proportion of tainted cryptocurrency flowing through the transactions.

As DMG has significantly expanded its developer team since the beginning of the year with recruitment of some of the best and brightest data scientists in Silicon Valley, it has built one of the most sophisticated analytics tool suite for use with cryptocurrency compliance and investigations. DMG’s tool suite includes the industry gold-standard Blockseer graph intelligence tool, along with Walletscore and a soon to be released real-time transaction monitoring capability for Ethereum transactions. DMG intends to make continued upgrades to its analytics capabilities and user interfaces while expanding supported blockchains, including Bitcoin Cash and those based on ERC-20 tokens.

DMG CEO, Dan Reitzik stated, “We are excited about how far our Silicon Valley team has come this year under the DMG umbrella, enabling it to deliver one of the most advanced tool suites in the industry. In addition to Blockchain Analytics, our team has also been the catalyst for launching DMG’s related Enterprise Blockchain Platform strategy with the recent announcement of an agreement with IBM to jointly develop and deploy blockchain-based, global supply chain management solutions.”

The Company also announces that in November 2017 it entered into a contract with John Martin for $5,000 per month for the provision of investor relations services. This contract was for a one-year term and is then continued on a month-to-month basis.

-------------------------------------------------
About DMG Blockchain Solutions Inc.

DMG Blockchain Solutions Inc. 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 (MaaS), crypto mining, blockchain forensics/analytics, and blockchain platform development.

For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com