The London Bullion Market Association (LBMA) and the World Gold Council (WGC) will jointly use enterprise blockchain to demonstrate that the gold is genuine and sustainably sourced.
Switzerland’s aXedras and Canada’s Peer Ledger will initially provide blockchain solutions for the integrity program, using the Corda and Hyperledger Fabric enterprise blockchains, respectively.
Permissioned blockchains make confidential data will only be available to those that have a right to see it.
Peer Ledger’s MIMOSI Connect solution has been used by Swiss gold refiner PAMP, and for other metals such as steel in a collaboration with Canada’s government. aXedras’ Bullion Integrity Ledger was used by SEBA Bank when it tokenized gold a year ago.
Ruth Crowell, the LBMA CEO, said that the initiative underlines the confidence that all participants in the market can have in the integrity and accountability of the gold they trade and buy.
LBMA first initiated work on its Gold Bar Integrity Programme in 2018.
Last year, Sentry published a report about the risk of buying gold in Dubai where the money funnels to armed groups that are responsible for atrocities in Africa. On top of that is the issue of child labor, particularly in the Democratic Republic of Congo.


Bank of Japan Signals Potential Rate Hike as Inflation Risks Rise Amid Energy Shock
Tech Stocks Rally in Asia-Pacific as Dollar Remains Resilient
Meta Expands AI Training With Employee Activity Tracking Tools
Bitcoin Hits $100K Milestone Amid Optimism Over Trump Policies
Amazon Stock Rises as Meta Expands AWS Partnership for AI Infrastructure
SK Hynix to Invest $13 Billion in AI Chip Packaging Facility
Nvidia Pushes 800V Data Center Power Systems to Boost Efficiency and Cut Costs
Florida Launches Criminal Probe Into OpenAI Over FSU Shooting Incident
Tesla Earnings Beat Expectations as EV Growth Holds Amid Robotics and AI Shift
Asian Stocks Surge to Record Highs as Wall Street Rally Offsets Oil Price Concerns
Gold is meant to be a ‘safe haven’ in uncertain times. Why is it crashing amid a war?
U.S.-Iran Conflict Stalls as Diplomatic Efforts Collapse and Global Oil Tensions Rise
U.S. Stock Futures Edge Higher as Ceasefire Extension and Intel Earnings Lift Sentiment
Brazil Blocks Prediction Market Platforms, Tightens Derivatives Trading Rules
SK Hynix Launches 192GB SOCAMM2 Memory for Nvidia’s Next-Gen AI Chips
Wall Street Hits Record High as Tech Stocks Surge Amid U.S.-Iran Developments
Florida Investigates OpenAI and ChatGPT Over Alleged Role in FSU Shooting 



