Updated: Sep 20, 2021
Using physical gold as an example
#2 of Digital Assets' Integrity
The key is to digitally reflect physical assets in a unique manner: the registration of a digital twin on the Blockchain is managed by relevant, trusted and certified partners along the value chain of gold.
➡️ At the source: Gold is registered at its origin and, hence, digitized by certified mines. The provenance starts and the existence is being proved. The issued digital twin starts travelling along the value chain and creates trust about the product.
➡️ At the refinery: Accredited refineries make sure that the quality of the physical precious metals is outstanding and that the digitized provenance data isn’t lost after the refining processes: Integrity Certificates are issued for refined precious metals by the refiners.
➡️ Existing stocks can also be registered by certified vaults - but, without digitized and validated provenance information from the source. Nevertheless, digitized assets lead to more efficient (B2B) processes thanks to the harmonized data standards.
aXedras has rolled-out its solution and on-boarded significant players in the precious metal ecosystem.