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DMG Blockchain Solutions Inc
Symbol DMGI
Shares Issued 96,696,391
Close 2019-10-18 C$ 0.11
Recent Sedar Documents

DMG to provide Blockseer tech to Japanese agency

2019-10-18 11:07 ET - News Release

Mr. Daniel Reitzik reports

JAPANESE NATIONAL INVESTIGATION AGENCY SIGNS 5 YEAR DMG BLOCKSEER AGREEMENT & DMG RETAINS INVESTOR RELATIONS FIRM

DMG Blockchain Solutions Inc.'s DMG Blockseer Japan has entered into a five-year software licensing agreement with a Japanese National Investigation Agency.

Highlights:

  • DMG Blockseer Japan has entered into a five-year licensing agreement with a Japanese national investigation agency.
  • The Japanese agency will use Blockseer technology to investigate and prosecute crimes relating to bitcoin and ethereum transactions, thefts, heists and money laundering.
  • Japan is the first major country to regulate cryptocurrency and, as such, Japan is the ideal market for DMG Blockseer's data analytic and forensic software products.

Japan is one of the first countries to regulate cryptocurrency. Since April, 2017, exchanges and other businesses involved in crypto are regulated by the Japanese Payment Services Act and report annually to the Financial Services Agency. Notable thefts and frauds in Japan include Mt Gox and Coincheck, the latter of which DMG Blockseer Japan was able to investigate and subsequently identify the wallets in which a large portion of the remaining stolen bitcoin are currently held.

Adrian Glover, director of DMG Blockseer Japan, commented: "Blockseer is one of two data analytics products we've been developing for several years. Blockseer is a state-of-the-art blockchain explorer that assists in conducting investigations, while Walletscore is an anti-money laundering tool, primarily used to determine the risk level of transacting with a given wallet. We established DMG Blockseer Japan Corp. as a joint venture company with JCIS in order to market and sell Walletscore and Blockseer into the Japanese market. We are thrilled that a Japanese national investigation agency has selected Blockseer for their forensic and investigative work."

JCIS's Naoji Kozuka added: "We are proud that one of the Japanese national agencies has selected a five-year Walletscore and Blockseer licence over the competition. We are continuing our efforts to on board cryptocurrency exchanges, along with audit and compliance institutions."

By gaining the trust and credibility from government agencies, DMG intends to enter into additional agreements with crypto exchanges, other companies and law enforcement agencies in Japan and worldwide.

Investor relations

DMG is also pleased to announce that it has retained Hybrid Financial Ltd. to provide investor relations and marketing services to the company. Hybrid has been engaged to heighten market and brand awareness for DMG and to broaden the company's reach within the investment community.

The marketing and investor relations agreement with Hybrid has an initial term of six months from the date of TSX Venture Exchange approval and may be renewed by the parties in accordance with the agreement.

Hybrid will be paid a monthly fee of $7,500, plus applicable taxes, and will be granted stock options to acquire up to 600,000 common shares of DMG at a price of 11.5 cents per share for a period of five years, vesting in stages over a period of 12 months in equal portions every three months, in accordance with the company's stock option plan and the policies of the TSX-V. In accordance with the terms of the agreement, Hybrid will be paid additional fees equal to dollar amount of stock options that it exercises.

Hybrid is arm's length to the company and all services provided by Hybrid will comply with applicable securities laws and the policies of the TSX-V.

The engagement of Hybrid remains subject to the approval of the TSX-V.

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.

We seek Safe Harbor.

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