On the surface it looks as though IBM is entering the blockchain space, but it also appears that (IBM.N) ( ) is interested in the cannabis space as well, and DMG is going to be the straw that stirs the drink. In the above press release it states ‘the IBM Cloud will help create robust blockchain solutions so all participants in the pharmaceutical or agriculture supply chain.’
IBM Seems Interested In Cannabis
Because of the current legal situation around cannabis a major corporation like IBM won’t officially say it’s getting involved cannabis, but it seems quite obvious that’s what they are getting at. We aren’t the only ones who have that connection:
Earlier this month we wrote about how DMG generates serious revenue and has also developed an e-commerce marketplace and supply-chain management system called CannaChain for the cannabis industry. By logging each step along the supply chain on the blockchain, a decentralized, timestamped, and digital ledger, this ground-breaking platform is expected to provide an irrefutable record outlining the journey the product has made.
This Deal Makes IBM Progressive In 2018
The global supply chain market was valued at USD$12.96 billion in 2017 and is anticipated to grow at a 12.3% rate between 2018 to 2026.
Under the DMG/IBM agreement, DMG expects to spend approximately $3 million in the first 12 months to develop the global supply chain platform and up to a total of $10 million over three year period. IBM will provide program managers, technical architects, full stack developers, data scientists, data engineers, and developers to work alongside DMG’s blockchain development team.
Over the last decade companies like Apple, Google and Samsung have dominated the hardware side of tech, leaving the previous moguls like IBM, Dell, Microsoft and HP scrambling to find their footing from a consumer popularity perspective. That being said, IBM is still very relevant, they did $79.1 billion in revenue last year, making them the 9th highest revenue generating information technology company in the world.
With the adoption of blockchain technology, this a chance for the dominant info tech player to become more relevant than ever.
“Blockchain is ideally suited to address supply chain challenges because it establishes a trusted environment for all transactions. We are pleased to work with DMG on this important initiative. DMG’s selection of IBM services and blockchain technology on the IBM cloud will help create robust blockchain solutions so all participants in the pharmaceutical or agriculture supply chain can gain permissioned access to known and trusted information regarding the origin and state of their transactions.” –Peter Finn, IBM Canada CTO
“We are honored to work with IBM to jointly develop this global platform. It is a testament to the expertise and experience of our blockchain development teams in Silicon Valley and Vancouver. Our first step is to develop this platform with IBM and then to monetize it.” – Dan Reitzik, DMG CEO
Market cap: $32.3 million
Shares outstanding: 93,249,482
DMG is a diversified cryptocurrency and blockchain platform company that is focused on the two primary opportunities in the sector – mining public blockchains and applying permissioned blockchain technology to address the fraud and friction that plagues the movement of value through supply chains. DMG’s strategy is to become the domain experts in verticals across many industries – agriculture, pharmaceuticals, energy, precious metals, transportation, financial services and manufacturing.
- Walletscore: Walletscore defines 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 function that captures the proportion of tainted cryptocurrency flowing through the transactions.
- Blockseer: Blockseer allows you to follow the flow of bitcoin through the blockchain forwards and backwards in time. You are able to view publicly available labels and clusters or create your own. Other features include seeing in-depth metrics about individual addresses or address clusters.
- Market Factors: Institutional cryptocurrency investors want a dependable stream of blockchain market factors to power their trading algorithms. They want a common resource for multiple signals, so they can train and backtest models that give them an edge in understanding and predicting the markets. Blockseer MarketFactors delivers.
- Mining as a Service – MaaS – Management of Bitcoin mining on behalf of third parties globally. MaaS enables anyone, anywhere the ability to mine crypto
- Supply Chain – DMG is working with an existing Licensed Producer to develop a platform ensuring complete provenance of controlled products through the entire supply chain.
- Forensics & Analytics – Our Certified Fraud Examiners (CFEs) use proprietary software tools, to perform investigations, and KYC and AML requirements, relating to both bitcoin and ethereum transactions.
To learn more about DMG check our 30 Cannabis Companies DMG Blockchain Is Out-Earning & Why It Matters article.