Zug, London, On March 28, at the Sustainability & Responsible Sourcing Summit by LBMA in London, LBMA (London Bullion Market Association) and WGC (World Gold Council) announced the launch of the gold bar integrity program.
The two global independent precious metal authorities LBMA and WGC are collaborating to implement an international system of gold bar integrity. We are very proud to announce that they recognized the value proposition of aXedras and mandated us to demonstrate how our existing and proven technology can deliver the industry-wide system of gold bar integrity – a global ecosystem, that will create an immutable record of a gold bar’s origin and chain of custody.
aXedras’ blockchain-backed solution, the Bullion Integrity Ledger™, enables to digitize and track bars, capture the provenance and full transaction history by digitalizing business processes. Over time, this will help consumers, investors, and market participants to trust that their gold is genuine and has been responsibly and sustainably sourced.
Read the full press release and find the video here: LBMA and WGC launch Gold Bar Integrity Programme | LBMA
Thanks to latest Blockchain technology / DLT it was possible to build a secure digital supply chain solution to immutably document gold – from its provenance to the end-user. Our solution the Bullion Integrity Ledger™ is already being used and appreciated by the major gold refiners and logistics companies.
The international bullion market associations have recognized the potential of the aXedras™ ecosystem, and we are delighted to now officially prove that we are ready to digitize the global precious metal market.
Urs Röösli, CEO at aXedras, adds: “We are proud to have reached this milestone. With the support of these two prestigious organizations, the digital transformation of the precious metal industry will make rapid strides. aXedras has developed the Bullion Integrity Ledger™ solution over years and is looking forward to expanding the aXedras™ ecosystem of trusted business partners to serve the entire value chain of gold and precious metals.”
aXedras provides a secure digital supply chain solution serving the global precious metal ecosystem. As an independent Swiss IT solution provider, aXedras’ objective is to take the precious metal industry to the next level of digitalization. The DLT/blockchain-based Bullion Integrity Ledger™ enables transparency of provenance data (ESG-proof) and chain of custody in real time. It is a member-based network for peer-to-peer interaction between stakeholders, thus grants trusted and immutable data. The integrity of the product is guaranteed from suppliers, refiners, transporters, vaults, banks, watch & jeweler manufacturers to the end consumer.
The Bullion Integrity Ledger™ ensures the unique combination of efficiency, integrity, traceability and confidentiality of data and business transactions. aXedras was founded in 2018 and is headquartered in Zug, Switzerland.
Learn more at www.axedras.com
aXedras AG, Kathrin Wolff Schmandt/Philipp Stockinger, email@example.com, +41588062222