Benefits

 

aXedras™ combines bullion market expertise and cutting-edge technology to create significant benefits for the stakeholders of the precious metals industry

 

  • The precious metals industry has a long history and tradition. Due to its close connection to the financial industry, the demand for global compliance rules and regulations has significantly increased

  • Product integrity, product provenance and traceability are of significant importance for sustainable investments in precious metal products

  • Distributed ledger technology empowers the required product integrity and traceability while maintaining or even increasing confidentiality

Integrity

  • Immutable and cryptographically secured recording of physical transactions and product data updates

  • Permission-based updating of data attributes

  • Ensured uniqueness of products by immediate detection of potential duplicates or counterfeits

Automation

  • Seamless multi-party transactions bridging existing
    data silos

  • Streamlining of existing operating processes and efficient data processing through unified standards

  • Elimination of recurring paper work and existing process duplication

Interoperability

  • Seamless data transfer through standardized interface between member IT systems

  • Connecting and providing access to third party solution providers

  • Agnostic technology to cover current and future requirements (e.g., identification technology)

Confidentiality

  • Each member stays in control of their own data and decides with whom to share what

  • Utilization of distributed ledger technology to avoid a central aggregation of sensitive data

  • Data are only shared and stored peer-to-peer

Traceability

  • Check the provenance of individual products

  • Access the respective chain of custody

  • Trace any changes of product master data

The Bullion Integrity Ledger and the Bullion Integrity Certificate take the global bullion market to the next stage.

  • Bullion Integrity Ledger is a trusted data network for peer-to-peer interaction within the bullion market.

  • Bullion Integrity Ledger connects all relevant stakeholders of the bullion market, whereby integrity, traceability and confidentiality of exchanged data and values are ensured.

  • Precious metals are registered (i.e., digitized) on the Bullion Integrity Ledger by issuing a unique Bullion Integrity Certificates as the digital logbook of the physical underlying.

  • Any Bullion Integrity Certificate is shared only among the involved parties, whereby the certificate is updated according to the actual life cycle of the underlying bullion. A tamper-proof chain of custody arises and data loss is prevented.

  • A governance body participates in the trusted data network in order to - following official LBMA considerations - setup and maintain a central product database by receiving generic product data of bullions. However, information specifying bilateral transactions are only shared between the involved parties themselves.