Case Study
Connecting and digitizing the precious metals industry
aXedras is a Swiss-based DLT infrastructure and application provider digitizing the precious metal value chain, from miner to investor. Powered by Corda, the Bullion Integrity Ledger™ by aXedras improves provenance tracking, regulatory compliance and product integrity while reducing transaction time, manual processes and reconciliation.
Challenge
Rising Importance of Sustainability and Human Rights Issues
Industry players are required to demonstrate the integrity and provenance of products.
Manual Documentation and Processes
Proving provenance is difficult, slow and expensive.
Lack of Data Standards within the Industry
Industry participants require unified data standards to process and exchange data and documents in a seamless manner.
Solution
Bullion Integrity Ledger™ by aXedras
Digitizes the end-to-end value chain of precious metals, with digital traceability from raw metal sourcing, to transportation, and circulation.
Digital Certificate
Each physical product has an accompanying digital certificate that contains details of the product such as weight, quality, and provenance.
Leverages Corda
Maintains the confidentiality of transaction data required by involved parties, while still creating the transparency needed at the product level.
Results
Connects and Digitizes the Precious Metal Value Chain
Connects all industry participants, including suppliers, refiners, logistics, companies, traders, and banks via one API.
Boosts Product Integrity and Compliance
Provides greater visibility of provenance and compliance throughout the value chain.
Digital Reconciliation
Enables participants to minimize cost and effort by receiving data digitally based on mutual data standards.
Improves Efficiency
Reduces transaction times, manual processes, and reconciliation, helping participants save time and money.
Corda was the clear choice because it has a very high confidentiality compared to other blockchain platforms. But what’s also important to us is having an enterprise-grade solution, because that creates trust. And it’s good to be partnering with a global provider that is well-established in the financial markets and whose confidentiality is strong enough for banks to rely on.
Urs Röösli—CEO, aXedras
