Integration of security features
"Gold, in various physical forms, is traded, transported and vaulted globally. The custodians of the market must ensure that the illegal movement and trading of gold, which includes the potential for fraud, is mitigated and therefore all gold bars must be sourced, labelled and identified correctly. A Security Feature is a physical feature that will establish the identity and provenance of a bar. [...] The development and introduction of a Security Feature adds a further level of integrity. It is expected that Security Features that conform to [LBMA] specifications could be ultimately utilised for all bars (gold kilobars, COMEX gold Good Delivery bars, silver Good Delivery bars) produced by LBMA Good Delivery refiners. [...] The Security Feature must be robust enough for current and future needs. The practicalities of using the new Security Feature must not negatively impact the efficiencies of the current market (e.g. scanning barcodes for bars entering / leaving a vault). The Security Feature approach should not create conditions where it is impossible to bring gold into the system."
Source: LBMA (2020) LBMA Gold Bar Integrity Initiative. Security Feature V1, 12.08.2020
However, if it is not obvious or known to the party handling a gold bar, whether or not a Security Feature is available, the Security Feature can't add its intended value. Therefore, following our interoperable and technology-agnostic approach, aXedras is in close collaboration with several providers of existing and emerging Security Features for the bullion market.
Handheld scanning device
Recognition of five unique identifiers by using AI-based OCR technology
Metal type, weight, fineness, serial no. and brand
Cross-Check with Bullion Integrity Ledger™
aXedras™ Code available (Y/N)?
Integrated & automated business processes
Registration, stock-Out, stock-In, termination, etc.
Indication if Security Feature is available
Future add-on: integration of verification process for visual Security Feature