Blockchain, Technology, Use Cases

Gold: Sourced Digitally, Ethically And Via Blockchain

Gold: Sourced Digitally, Ethically And Via Blockchain

In the age of blockchain, all manner of physical assets are making the leap to bits and bytes. Blockchain can track transactions of all sorts and create a connected record — and that blockchain is rapidly cleaving from the cryptocurrency clamor to which it was once inextricably linked. When it comes to supply chains, proponents say blockchain specifically, distributed ledger technology (DLT) — holds promise. Writ large, some observers say blockchain has the potential to disrupt the way business is done, as goods are sourced and brought to market, especially where logistics are concerned.

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To that end, gold or, in this specific case, the activities of gold mining and marketing — the production and procurement of the yellow metal that has been coveted and used as currency for centuries — is also finding a niche via blockchain. Emergent Technology Holdings has developed blockchain technology that tracks where gold came from and where it is going, and has introduced a digital token known as G-Coin, a digital title of ownership of physical gold tracked on EmTech’s blockchain.

The technology, spanning blockchain and G-Coin tokens, is built to foster liquidity in trading; and it should be noted that, traditionally, gold has been among the most illiquid of investments, with high transaction costs and a spread between bid/ask. G-Coin, can handle thousands of concurrent transactions with finality of settlement, and with trades done 24/7 and in real time.

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