Digitalizing precious metals end-to-end
Challenge
- In the gold market and industry value chain, trust between participants and confidence in the integrity of the product have traditionally been based on personal relationships
- The paper-based and largely manual nature of the industry’s documentation and processes means proving provenance is difficult, slow and expensive
Solution
- Bullion Integrity Ledger digitalizes precious metals and the entire end-to-end process and value chain around it, boosting integrity and efficiency while maintaining confidentiality for all participants
- Bullion Integrity Ledger is also designed to cover other precious metals, such as silver, palladium, platinum
Why Corda?
- Because of its financial services reputation, strong privacy, scalability and JVM industry standard
Results
- Digitizes the value chain from mining to transportation to investment
- Reduces transaction times, manual processes and reconciliation
- Each bar has an accompanying digital twin in the form of a Bullion Integrity Certificate™
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