Tradewind Markets
Tradewind Markets Tracks Gold Trade With Origins Blockchain
November 15, 2019
Tradewind Markets
Tradewind Markets Tracks Gold Trade With Origins Blockchain
November 15, 2019

As a digital tool to provide supply chain provenance to buyers and sellers on Tradewind Markets, Origins allows stakeholders to buy and sell physical gold and other precious metals based on sourcing preferences such as the geography of the mine, name of the mine, recycled sources, and artisanal approaches.  

Michael Albanese, the Chief Executive of Tradewind, said that Origins allows miners to advertise their precious metals to downstream buyers by tagging the metals. 

However, Albanese explained:

“If you are a miner who produces responsible metal, once the bank buys the metal, it loses its identity.  “That bank sells it to a wholesaler network down to a corporation. That miner is challenged to be able to advertise its metal. For the first time ever, the miner that produces responsibly is going to be able to tag their metal to advertise it to downstream buyers.”

Michael Albanese

Likewise, VaultChain, a digital platform of Tradewind, creates a direct and immutable connection between physical gold and investors. The gold is stored with the Royal Canadian Mint, a crown corporation of the Government of Canada. Investors can buy precious metals through the blockchain-based platform, which records the metals’ transactions and ownership.

The Royal Canadian Mint has approved the provenance of physical and other precious metals registered with Tradewind. The crown corporation is responsible for the physical delivery of metals to buyers who are subject to manufacturing and delivery fees.

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The blockchain technology was adopted by government officials in the Societe Miniere de Bisunzu (SMB) mine in Congo to certify conflict-free diamonds.

Thus, the Berlin-based blockchain company RCS Global provided blockchain-powered solutions for the SMB mine to help fight against blood diamonds in the country.

Source: asiablockchainreview.com


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. She is an archetypal writer, who loves to create her own little world with words and locutions. Apart from this, her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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