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DMG Awarded Blockchain Tracking Patent
Vancouver-based DMG Blockchain Solutions has made significant strides in the fight against fraud and money laundering within blockchain ecosystems by securing a US patent for Cryptographic Taint Tracking technology. This innovative solution identifies, monitors, and quarantines wallets associated with suspicious transactions, further solidifying the company’s commitment to pioneering blockchain compliance.
The patented technology builds upon DMG’s prior work in blockchain security, introducing advanced methods to detect and manage wallets involved in dubious activities. The Cryptographic Taint Tracking system not only flags high-risk wallets but also enables 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.”
DMG’s latest patent seamlessly integrates with its clean-block mining initiative, which emphasizes sustainability and regulatory compliance in cryptocurrency mining.
Source: fullycrypto.com
