How are precious metals and blockchain related to each other?

For the precious metals mining industry, which has been fighting illegal mining methods for many years, the use of blockchain could be a turning point. The blockchain technology will help make the gold mining process itself more transparent and accessible to the general public. The main purpose of blockchain here is to help to stop illegal, hidden and unregulated looting, as well as, human rights violations. The use of blockchain will increase transparency and ensure complete traceability of metals.

Blockchain is a digital registry that is distributed, decentralized, verifiable and immutable. It can be used to record transactions of almost any value. In essence, this is a shared database that everyone can see. The system provides many benefits including a high level of transparency. This is due to the fact that everyone can view and check the registry, but no one can change or delete entries from it.

Blockchain technology is starting to change the way you do business.