DMG Blockchain (TSX-V: $DMGI.V) Welcomes Litecoin Creator Charlie Lee to its Advisory Board, as the Company Prepares to Add #Litecoin Mining to Its MaaS Offering
VANCOUVER, British Columbia - April 24, 2018 (Investorideas.com Newswire) DMG Blockchain Solutions Inc. (TSX-V: DMGI) ("DMG" or the "Company"), a diversified blockchain and cryptocurrency company, announced today that Charlie Lee, inventor of Litecoin and former director of engineering at Coinbase, has joined DMG's advisory board as the Company prepares to add litecoin (LTC) mining as part of its Mining-as-a-Service (MaaS) operations, as well as apply the Lightning protocol for cross-chain atomic swaps between blockchains such as Bitcoin and Litecoin.
Mr. Lee is a celebrity figure in the cryptocurrency world, having created Litecoin just two years after the first Bitcoin appeared. LTC has remained one of the top-valued cryptocurrencies. Mr. Lee's Litecoin hashing protocol uses a different algorithm from Bitcoin and was designed to reduce blockchain transaction time by almost 75 percent, which potentially makes litecoin better suited for higher volume transaction applications like retail shopping and online payments. Lee graduated from MIT with a computer science degree and developed Litecoin while working at Google as a software engineer. He left Google in 2013 to become one of the first hires at Coinbase, and in 2017, Lee stepped down from his position at Coinbase to work full time on LTC as managing director of the Litecoin Foundation.
"Next to bitcoin, our global Mining-as-a-Service (MaaS) customers are requesting litecoin mining services. Thus, as we prepare to expand our unique MaaS offering beyond bitcoin, we are fortunate to have Charlie Lee as an advisor," said Dan Reitzik, CEO of DMG Blockchain Solutions, Inc. "As for Charlie, every employee in DMG Blockchain Solutions knows him by reputation, if not personally, and we are all excited to have his industry knowledge and his personal attention on DMG's strategy and development going forward."
"I am delighted to see DMG's interest in supporting LTC," said Charlie Lee, managing director of the Litecoin Foundation. "I'm looking forward to advising both DMG's industrial mining and engineering teams as the company expands into the LTC ecosystem."
About DMG Blockchain Solutions
DMG Blockchain Solutions Inc. is a diversified blockchain and cryptocurrency company that manages, operates and develops end-to-end solutions to monetize the blockchain ecosystem. DMG, along with its Blockseer division located in Silicon Valley, intends to be the global leader in industrial scale crypto mine hosting - Mining as a Service (MaaS), crypto mining, blockchain forensics/analytics, and blockchain platform development.
For more information on DMG Blockchain Solutions visit: dmgblockchain.com
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