Page 12 - Bullion World Issue 10 February 2022_Neat

Bullion World | Issue 10 | February 2022

Refiners Toolkit due diligence
templates) into the database.

This is then accessible to all
appropriate auditing parties. For
each shipment sent to Valcambi,
the supplier specifies which
sources of precious metals are
included. This creates the link
between Valcambi, its supplier (the
“origin”) and the “genesis” (i.e.
where Valcambi’s supplier sourced
the precious metal processed and
subsequently sent to Valcambi).
The newly acquired SDS system
enables not only the recording
of business partners’ data and
the origin of delivered material,
but also helps to streamline
the complex auditor workflow
and enables greater rigor and
precious metals market actors. to the buyer of the bar, and this robustness around the auditing
Thanks to a blockchain solution, solution is going to disclose the framework, allowing auditors
all the custody and ownership of a type of material used (mined or increased functionality in verifying
bar, starting from the release from recycled) and its origin. and cross checking whether the
the refinery, are uploaded in an information received is true and
encrypted way into a blockchain. On new products, we have compliant.
The buyer can check if the bar developed in-house and installed
they are going to buy is legitimately a line to produce silver kilobars. We have started adopting it for
owned by the seller, and this is Benefiting from Valcambi’s long recycled materials, but intend to
the only visible part. But behind, experience, we are able to produce expand its use to all our supplies.
invisible and encrypted, in the stunning silver kilobars, going
blockchain are all the movements beyond what is normally expected Valcambi is also redefining
of the physical bar, from leaving of a pure investment product. the way an LBMA accredited
the refinery. This solution is useful refiner engages with Artisanal
to prevent circulation of forged Continuing with the theme Gold Mining Sector. Valcambi’s
bars and ensures the buyer of the of innovation, we notice that model is comprehensive as it
legitimate ownership and origin of Valcambi launched a new addresses the environmental
the bar. programme using blockchain and social concerns as well as
technology for sourcing recycled the transparency and traceability
On top of the Circulation module, gold in mid-2020. Can you requirement of the miners.
Valcambi asked aXedras to develop elaborate on the Secured Data Please share the goals of the
a solution to include information Storage initiative? How has been programme and how much has
on the gold origin. This module the response so far? been achieved so far. Specifically,
is going to become an aXedras The SDS system we are adopting how did the programme benefit
solution too, called Provenance. is simple: it is based on block chain the miners during the challenging
Thanks to the detailed record of technology which requires entities covid times? Lastly, is it scalable
all the processing steps we have looking to become a precious and sustainable in the long run?
established in Valcambi for many metals supplier to Valcambi We started getting involved in
years, we are able to trace back the to upload all due diligence supporting ASMs access to global
incoming materials that become information, data and documents markets so they can grow and
part of the finished products. This required by the most stringent due prosper since 2015. And we have
information will be made available diligence standard (based on LBMA been sourcing from ASM mines

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