DMGI has big news.DMG Blockchain Announces Global Supply Chain Management Platform for Cannabis 2018-10-16 08:49 ET - News Release Highlights: ##The supply chain technology provides DMG and its partners with a first mover advantage as a global cannabis blockchain solution ##DMGs platform will have the capability to provide immediate product traceability, as well as automating transactions and information flow among licensed producers, licensed distributors, regulators, retailers, shippers, and reporting and auditing systems ##DMGs global technology partner has commercially deployed multiple blockchain-enabled supply chain management systems for Fortune 100 clients VANCOUVER, British Columbia, Oct. 16, 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, is pleased to announce that development is now underway with our technology partner to build a global supply chain management platform with a focus on the legal cannabis industry. Deployment will begin in Canada, and subsequently expand globally. DMG, together with its technology and finance partners, is currently in discussions with cannabis industry players, including major licensed producers, quality assurance labs, retail distributors, and government regulators. This global blockchain initiative is a collaboration among industry stakeholders and is being tailored to meet industry players specific requirements. DMG intends to onboard significant industry participants as it launches its cannabis supply chain solution. DMGs CEO Dan Reitzik, commented: "The emerging cannabis industry demands product management solutions and blockchain is the most logical choice. We want to be the first to offer an enterprise grade solution in partnership with leading technology providers and cannabis producers, processors and distributors. The first use of blockchain was bitcoin, but the perfect use is supply chain management for controlled products such as cannabis. Canada is being positioned to be the global supplier of cannabis, and our blockchain platform can help enable this by way of product traceability for rapid recalls, ensuring a legal source of product, enhancing product safety, as well as facilitating and automating legal and taxation compliance. Market size ##Cannabis represents a $23 billion dollar1 industry in Canada alone, including an estimated $6 billion in revenue from 13 million recreational users ##Various market reports indicate the global cannabis market could exceed $500 billion Key planned capabilities of the new global supply chain management solution include: ##Supply chain automation on blockchain, applying artificial intelligence, IoT, machine learning and tight integration across the entire supply chain ##Development of interfaces between the blockchain platform and legacy systems, allowing for automated transactions and process flows, utilizing smart contracts ##Integration of existing ERP systems with the blockchain platform, supporting automated triggering of events such as defective product recall or the resupply process ##Integration with licensed producers, licensed distributors, retailers, shippers, as well as reporting and auditing systems ##Onboarding of new participants