DMG Unveils Wazabi - The Cannabis Industry’s Cognitive Technology Platform Using Blockchain and Artificial Intelligence for Global Supply Chain Optimization

World News: . []

Highlights:

VANCOUVER, British Columbia, Sept. 11, 2019 (GLOBE NEWSWIRE) -- (TSX-V: DMGI) (DMGGF:OTC US) (FRANKFURT:6AX) (“” or the “”), a diversified blockchain and technology company, is pleased to unveil the Wazabi Project.

As a diversified blockchain technology company, it was important for DMG to pursue enterprise platform development in addition to DMG’s industrial scale crypto-mining and forensics efforts.

Wazabi is a cognitive platform built on blockchain to revolutionize the global cannabis industry’s entire ecosystem allowing it to thrive in our digital economy.  It helps resolve the following challenges:

Wazabi is a cognitive platform that utilizes Hyperledger Fabric blockchain, a decentralized, immutable, enterprise grade platform that provides transparency and trust for global supply chain optimization through business process automation and improved customer insight.  Bitcoin was the first use of blockchain technology but one of the best uses is in supply chain management of high value, or controlled and regulated products, and specifically cannabis. 

DMG’s CEO Dan Reitzik commented “With our Cognitive Platform, parties provide information with their digital signature so you know the information is from the respective parties.  In a supply chain with two or more parties this becomes extremely effective in providing transparency and trust while also reducing system integration costs. This revolutionary modern industry architecture serves as a baseline to help resolve many of the cannabis industry’s challenges and create new business process opportunities beyond the traditional supply chain processes.”

Various news outlets have reported that even Canadian Licensed Producers have had black market cannabis enter their facilities and then make its way into the legal cannabis market. Wazabi is being developed to prevent these serious issues from occurring.

At present there are multiple seed to sale, ERP, logistics, shipping, warehousing and point of sale systems, none of which can talk to each other without significant custom development work which becomes arduous and costly to maintain.  Wazabi doesn’t replace any of these systems, Wazabi’s pre-built Application  Programming Interfaces (APIs) accelerate integration of these systems across the entire ecosystem, while introducing the notion of trust and transparency for expanded process automation beyond entities' traditional four walls.  

Wazabi provides an irrefutable single source of truth in terms of all data, and unique advanced analytics using AI, machine learning and other deep learning capabilities for optimal customer insight and experience for business optimization.  When a product changes custody, trusted interoperability is always maintained, enabling a real-time view of where every batch of cannabis is currently in the supply chain as well as irrefutable provenance of each batch.  

Provinces, States, large retailers and distributors, and especially Countries, will have the ability to purchase Wazabi certified products from Wazabi marketplaces with the following benefits:

Dan Reitzik added “Short term, Wazabi helps resolve some significant challenges across the entire industry, medium term, with industry adoption, Wazabi will make the entire cannabis industry transparent and intelligent beyond what other industries have accomplished.  What helps make this possible beyond our people, technology and process is the fact that there are very little legacy systems to deal with compared to any other industry.  The ecosystem stakeholders have the opportunities to easily adopt this modern platform without going through a large transformation project. This modern platform is built to allow for easy integration into other modern platforms to help facilitate and accelerate global cross border shipping and resale of edibles through the supply chain of large retailers.”

Once fully developed and beta-testing has been completed, revenues are expected from charging producers a few cents per gram for Wazabi certification, from commissions earned on products sold wholesale through the Wazabi marketplaces, as well as from product forecasting and data analytics.

DMG is reviewing various transaction structures to determine the best way to structure, finance, and deploy Wazabi.

For more information on Wazabi please schedule a call or presentation by contacting DMG.

For more information on DMG Blockchain Solutions visit:

On behalf of the Board of Directors,Daniel Reitzik, CEO & DirectorFor further information, please contact:

Investor Relations: John MartinToll Free: 1-888-702-0258Email: investors@dmgblockchain.comWeb: www.dmgblockchain.comDirect: 778-868-6470

The securities of DMG are considered highly speculative due to the nature of DMG’s business.

Factors that could cause 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.

Photos accompanying this announcement are available at

More news and information about DMG Blockchain Solutions Inc.

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Globe Newswire: 13:30 GMT Wednesday 11th September 2019

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