- DMG Blockchain Solutions has received a new US patent for its Cryptographic Taint Tracking technology
- The patented technology identifies, monitors, and quarantines wallets associated with suspicious transactions
- DMG has also granted stock options and restricted stock units to align employee and director incentives with the company’s growth strategy
Vancouver-based DMG Blockchain Solutions has secured a US Patent for Cryptographic Taint Tracking for use in tracing illicitly obtained crypto funds. The patent expands on the company’s innovative efforts to combat fraud and money laundering within blockchain ecosystems. Additionally, the company has introduced new stock options and restricted stock units (RSUs) to reward employees and align their performance with DMG’s growth trajectory.
Pioneering Blockchain Compliance
DMG’s latest patent builds on its prior work in blockchain security, introducing advanced methods to detect and manage wallets involved in suspicious activities. The Cryptographic Taint Tracking system not only flags high-risk wallets but also allows exchanges to quarantine them for review, reinforcing compliance and law enforcement efforts.
“By advancing a novel methodology to detect and prevent suspicious activity in real-time, we’re enhancing the trust and safety of the blockchain,” said Sheldon Bennett, DMG’s CEO. “This technology is core to ensuring that bad actors are prevented from tainting our ecosystem and supports our carbon-neutral Bitcoin initiatives through Terra Pool and Systemic Trust.”
The technology integrates seamlessly with DMG’s clean-block mining initiative, which emphasizes sustainability and regulatory compliance in cryptocurrency mining.
Driving Incentives for Growth
DMG’s efforts extend beyond security, focusing on environmental and institutional collaboration through initiatives like Terra Pool, the world’s first carbon-neutral Bitcoin mining pool. Coupled with the upcoming launch of its Systemic Trust custody subsidiary, DMG aims to create a sustainable and compliant ecosystem for digital assets.
In addition to its technological advancements, DMG announced the allocation of 424,680 stock options and 2,050,000 RSUs to employees and directors. These incentives are aimed at fostering long-term engagement and aligning the team’s goals with the company’s mission. The stock options will vest over two years at a price of $0.38 per share, while the RSUs will vest after one year.
