Valcambi uses Emergent’s blockchain technology to further strengthen supply chain integrity
Valcambi has entered into an agreement with Emergent Technology Holdings LP (Emergent) to use Emergent’s blockchain technology to trace the provenance of gold from mines, to the refinery, and through to vaults.
Emergent’s mobile application scans chips in tamper proof seals to record the provenance of gold and the transfer of custody between participants on the gold supply chain.
“Producing refined gold that is responsibly sourced is vital to the sustainable success of our business and our industry. As we make every effort to ensure the integrity of our supply chain, we place high value on technologies that automate and strengthen the sourcing process. The use of Emergent’s blockchain technology will further increase our supply chain transparency and traceability which are Valcambi’s priorities,” says Michael Mesaric, CEO of Valcambi.
Emergent’s blockchain technology comes to complement the thorough and more conventional due diligence and sourcing process the refiner has developed and systematically follows.
“We are absolutely delighted to be working with Valcambi on this project. Valcambi’s reputation for integrity and position as a leader in gold refining confirms the value of Emergent’s offering. There is mounting demand for a process that strengthens the integrity of the gold supply chain. Using blockchain technology, we deliver absolute confidence on the provenance of gold,” said Matthew Keen, Emergent’s Managing Director of Responsible Gold Trading.
Valcambi Green Gold kilobars were used to produce Emergent’s first 1000 G-Coin™ tokens in 2017. G-Coin tokens are a digital certificate of title to physical, responsibly sourced gold. The digital tokens can be used for payments and investment.
Notes to editors
Valcambi is a world leader in the refining of precious metals with more than 55 years’ experience. Based in Switzerland, we operate one of the world’s largest and most efficient integrated precious metals plants, with an annual refining capacity of up to 2,000 metric tonnes. We refine gold, silver, platinum and palladium and offer a broad range of products and services of the highest quality. We are committed to conduct our activities in a responsible way, to drive industry best practices and to unlock development and growth opportunities. Valcambi is fully owned by Global Gold Refineries Ltd (GGR) incorporated which is owned by Rajesh Export Limited India.
Valcambi was the very first refiner to introduce GreenGoldTM, a fully traceable gold to the market in 2018. Valcambi Green Gold is a premium quality precious metal product the origins of which are fully documented and independently validated. Valcambi Green Gold is sourced only from mines which adhere to the highest standards of environmental stewardship, Health & Safety and human rights of their labour force.
Based in Santa Clara, California, Emergent Technology Holdings LP owns and operates Emergent Payments®, the Responsible Gold™ platform and G-Coin™. The company operates in more than 60 high-growth markets across Asia-Pacific, Latin America, the Middle East and Africa. The company will launch G-Coin and the Responsible Gold supply chain in Q3 2018. The blockchain technology and smart contract platform traces responsibly sourced gold from mine, to refinery, to vault and then digitizes that gold into secure G-Coin tokens for trade around the world.