Question 1

Who is aXedras?

Accepted Answer

As an independent software developer & vendor based in Switzerland, aXedras Ltd. is a software developing company for product and data integrity in the bullion market (and for other high-value industries). aXedras has been developing a DLT application, the Bullion Integrity Ledger™, which operates on a permissioned and private blockchain (Corda Enterprise by R3). The application efficiently combines integrity on product level, traceability of supply chains / materials and confidentiality of business transactions. The objective is to digitalize B2B processes of the precious metal industry by creating a digital twin of the physical underlying – the Integrity Certificate. aXedras enables the refineries to digitalize the provenance details of incoming precious metals and to connect them to each refined product.

Question 2

Is aXedras developing the Bullion Integrity Ledger™ on its own?

Accepted Answer

Yes, aXedras maintains its own development capacities. However, the sound partner network with its expert skills and know-how enables aXedras to develop innovative software solutions. aXedras closely collaborates with experts on distributed ledger technology, cloud computing and precious metals.

Question 3

What is the aXedras™ ID?

Accepted Answer

The aXedras™ ID is a unique digital identifier of each Integrity Certificate. The Integrity Certificate is the digital twin of a physical underlying (e.g., precious metal bar) and references the master data of the product as well as peer-to-peer operational data. The aXedras™ ID is used to uniquely identify, verify and to transact specific precious metal products in a digital manner.

Question 4

Does aXedras Ltd. offer or provide a ‘gold-backed’ token or cryptocurrency?

Accepted Answer

No, aXedras itself doesn’t offer a ‘gold-backed’ token or issue a cryptocurrency.
Instead, aXedras uses Distributed Ledger Technology to build a trusted network, on which market-participants of the precious metals industry can interact with each other and exchange trusted data to simplify their operating processes.

Question 5

What does aXedras Ltd. do in its function as Business Network Operator (BNO) of the Bullion Integrity Ledger™?

Accepted Answer

aXedras is acting as the business network operator (BNO) of the Bullion Integrity Ledger™ and provides the required network infrastructure and related services. In the role of the BNO, aXedras provides the required network services via the following components:
Notary component, inter alia:
Ensures data consensus
Prevents double spending
Stores the network transactions in an encrypted form and has no access to its content.
Corda Enterprise Network Manager components, inter alia:
Identity Manager: Processes the member onboarding process.
Signer: Authenticates the Members in the network.
Network Map: Manages network parameters and a list of authenticated network Members (IP addresses)
Governance Node:
See Question "What does aXedras Ltd. do in its function as Business Network Governor (BNG) of the Bullion Integrity Ledger?"

Question 6

What does aXedras Ltd. do in its function as Business Network Governor (BNG) of the Bullion Integrity Ledger™?

Accepted Answer

aXedras maintains and also operates a Node in the Bullion Integrity Ledger™, the so-called Governance Node.
The Governance Node receives a network-guaranteed extract of newly registered and Bullion Integrity Certificates. This extract only consits of non-sensitive data regarding the registered product.
The Governance Node runs a service which allows to detect products that have been registered a second time, so-called duplicates.

Question 7

Does aXedras AG have access to any confidential data?

Accepted Answer

No, aXedras doesn't have access to confidential data. Furthermore, due to the employed Distributed Ledger Technology there isn’t a central database or provider having access to the entirety of data!

Question 8

What type of "Blockchain" underpins the Bullion Integrity Ledger™ and what are its characteristics?

Accepted Answer

The Bullion Integrity Ledger™ is a decentralized business network for the global bullion market representing a group of members, who are conducting business and transacting together as independent companies. In order to get access to this trusted business network, any Member has to get a license to run and operate a DLT-based software solution provided by aXedras. Ultimately, the aXedras™ Software is designed modularly including manifold features in order to satisfy diverse requirements of the individual players of the bullion market.

Question 9

What is the Integrity Certificate?

Accepted Answer

To digitally represent a specific precious metal product, an Integrity Certificate is issued during the registration process. Accordingly, each Integrity Certificate acts as the digital twin of the physical product on the Bullion Integrity Ledger™ to exchange and store data referencing to this given product. This digital certificate can be imagined similar to the paper product certificates that exist today, but in an efficient, expandable, and digital form.

Question 10

Where does the aXedras™ software operate?

Accepted Answer

Each network-member owns their own technology stack (licensed by aXedras), which is hosted and operated either on-premise or in the cloud by the member themselves. The Governance stack is operated by aXedras™.

Question 11

How can I join the Bullion Integrity Ledger™?

Accepted Answer

The Bullion Integrity Ledger™ is a permissioned DLT-based network. Companies from the bullion market can apply to join and connect to the Bullion Integrity Ledger™. An efficient onboarding procedure ensures integrity, honesty and credibility of all network members.
Contact us for further info (email: info@axedras.com; phone: +41 58 806 2222)

Question 12

Which players of the bullion market can join the Bullion Integrity Ledger™?

Accepted Answer

Along the global value chain of precious metals, companies have specialized in different core competencies and aXedras intends to focus on their diverse requirements equally. The aXedras™ Software accomplishes this by providing different modules. Subsequently you can find a list of roles which are represented within the aXedras™ business network:
Mines or Recycling Companies
Refiners/Mints
Logistics Companies
Bullion/Central Banks
Certified Bullion Trader / Dealer
Industry (e.g., watch, jewellery or technology companies using precious metals during their manufacturing process)
Auditors

Question 13

What are the costs for using the aXedras™ Software respectively Bullion Integrity Ledger™?

Accepted Answer

The requirements for every stakeholder of the bullion market are quite diverse. Therefore, each interested party has the right to obtain an individualized offer by aXedras for joining the Bullion Integrity Ledger™.
In general, fixed costs for the software license and membership and variable transaction-based costs apply.

Question 14

What type of Blockchain underpins the Bullion Integrity Ledger™ and what are its characteristics?

Accepted Answer

The Bullion Integrity Ledger™ is utilizing components of a commercial version of a distributed ledger technology (DLT) called Corda Enterprise for enterprise usage, which efficiently integrates privacy, scalability, settlement finality and identity management.
The Corda DLT is already being used in industries from financial services to healthcare, shipping, insurance and more. It records, manages and executes institutions’ business transactions in perfect synchrony with their peers, creating a world of frictionless commerce.
aXedras does not use a blockchain in a literal sense because the Bullion Integrity Ledger™ does not use blocks.

Question 15

Can the aXedras solution be expanded to other industries and their complex supply chains?

Accepted Answer

In principle, yes.
The unique network rules of the Bullion Integrity Ledger™ can be modified to reflect the market requirements of different high-value industries.

Question 16

What does "upstream" mean in the context of the Bullion Integrity Ledger™?"

Accepted Answer

We use the term "upstream" to characterize the leg of the value chain of precious metals and raw materials before they are melted and refined to finished products by a producer (e.g., refiner or mint).

Question 17

What does "downstream" mean in the context of the Bullion Integrity Ledger™?"

Accepted Answer

We use the term "downstream" to characterize the leg of the value chain of precious metal products after they have been melted and refined to finished products by a producer (e.g., refiner or mint).

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