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DMG Blockchain (OTC:DMGGF) releases API, announces sales partnership

Tony Zerucha



DMG Blockchain Solutions (TSXV:DMGI) (OTC:DMGGF) (FRANKFURT:6AX) has released its API for Walletscore and has partnered with SPIRIT Blockchain Capital 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 financial institutions, government regulators, exchanges, law enforcement agencies, and service providers in Switzerland and throughout Europe.

“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,” DMG CEO Dan Reitzik said. “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.”

“We are excited to be working with DMG Blockchain Solutions,” SPIRIT Blockchain CEO Erich Perroulaz said. “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.”

DMG also announced its AI-powered risk assessment tool, Walletscore, is now available  to assess the risk of transacting with another wallet, available via either GUI or API, to combat money laundering and fraud. Enter a wallet address at and instantly receive a full graphical report of its risk rating (ranging from “Negligible Risk” to “Highest Risk”) and 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.

“Walletscore applies the most advanced data science to unravel the Bitcoin blockchain,” DMG CTO Danny Yang said. “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.”

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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